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VOL. CCLXIV NO. 99
WEEKEND
* * * * * * * *
HHHH $2.00
SATURDAY/SUNDAY, OCTOBER 25 - 26, 2014
Stocks have roared back from a selloff earlier in the month...
17300
i
World-Wide
16800
he rapid response to the
U.S.’s latest Ebola case
presents a sharp contrast to
the response to the initial
case in Dallas last month. A1
 New York, New Jersey
and Connecticut instituted
involuntary 21-day quarantines on health-care workers
returning from West Africa. A1
16300
T
n North Korea probably has
the capability to produce a
nuclear warhead that could
be mounted on a rocket, a
top U.S. commander said. A7
n Neither of the two Canadians who attacked soldiers
and Parliament were on a
terror watch list in the U.S. A9
n Seeking an alternative to
Hillary Clinton for 2016, some
liberal donors are meeting
with potential challengers. A4
n A shooting at a Seattle-area
high school left two students
dead and four injured. A5
n Cameron warned a big new
bill for EU membership could
encourage those in Britain
who want to leave the bloc. A8
n Putin blamed Ukraine for
blocking implementation of a
peace pact but said he hoped a
gas dispute can be resolved. A8
n Ukrainians will elect
their first parliament Sunday since pro-Europe protests toppled Yanukovych. A8
n Brazil’s President Rousseff
sought to widen her lead over
her conservative challenger
heading into Sunday’s vote. A9
i
Business & Finance
n Stocks soared this week,
reclaiming ground lost earlier
in October, but many investors worried that this year’s
series of sudden dips and recoveries may not be over. A1
n The Dow rose 127.51 points
Friday to 16805.41. The Nasdaq
and S&P 500 also gained. B5
n The gap between the more
expensive median price of new
homes and that of resales has
exceeded $70,000 for most of
the economic recovery. A3
n About 25 eurozone banks
failed the ECB’s financialhealth checks, though more
than half have taken steps to
shore up balance sheets. B2
n The growing availability
of cheap music has sapped
demand for downloads at
Apple’s iTunes store. B1
n Procter & Gamble will exit
its Duracell battery business
amid CEO Lafley’s push for a
more focused company. B1
n Chiquita dropped its
planned merger with Fyffes
and will turn instead to a coalition of Brazilian firms. B1
n Ford’s profit fell 34% as a
factory revamp and higher
warranty and recall costs cut
North America earnings. B3
n UPS reported robust
third-quarter growth, fueled
by a rise in package shipments
in the U.S. and abroad. B4
n Up to 10 million of AT&T’s
most lucrative wireless customers may be free to exit. B3
Inside
15800
Oct. 6
7
8
9
10
13
14
15
16
17
20
21
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24
... but moves in other markets have been more muted.
Nymex crude-oil futures
Yield on 10-year Treasury note
$95 a barrel
2.6%
90
t 9.7%
80
75
Oct. 3
WSJ Dollar Index
2.273%
t 0.174
pct. pts.
2.4
$81.01
85
78.5
77.5
2.0
77.0
1.8
24 Oct. 3
24
Photos:European Pressphoto Agency (left); Reuters (right)
Sources: SIX Financial (Dow); WSJ Market Data Group (crude, dollar); RyanALM (yield)
77.655
t 1%
78.0
2.2
76.5
Oct. 3
24
The Wall Street Journal
BY E.S. BROWNING
The stock market soared this
week, reclaiming ground lost
earlier in the month. But many
investors worried that, with
stock prices high and the world
economy unsettled, this year’s
succession of sudden dips and
sharp recoveries may not be
over.
Major indexes shook off the
fears of global deflation that
have gripped U.S. and European
markets. A surge of economic
optimism and strong corporate
earnings pushed the Dow Jones
Industrial Average up 425.00
points, or 2.6%, this week, its
biggest weekly gain since December. The more volatile Nasdaq
Composite Index rose 5.3% for
the week, its best weekly percentage gain since 2011. Both indexes, and the broad S&P 500,
are less than 3% from returning
to their September highs.
Better economic news from
Europe and solid U.S. earnings
reports came on top of renewed
hopes that European central
bankers will take fresh steps to
support Continental economies,
perhaps stepping in to buy corporate bonds. International investors continued to shift money
to the U.S., where the economy
has been one of the world’s
steadiest and the Federal Reserve remains committed to only
a very gradual tightening of
monetary policy.
Please turn to the next page
 More on the markets................. B5
TRAINING GAP
On Iraq’s Front Lines,
Army Struggles to Slow Militants
Just 15 minutes into a recent
battle with Islamic State in the
town of Dhuluiya, Ibrahim Thiab
watched a group of Iraqi soldiers
break ranks and flee in terror.
The U.S. and its Arab and
Western partners find themselves
having to rely on an Iraqi army
200 km
Mosul
ill-prepared to fight Islamic
SYRIA
IRAN
State—even with the help of alDhuluiya
lied warplanes—as militants
press their campaign to topple
By Matt Bradley in
Baghdad
Iraq’s government.
Baghdad and Julian E.
IRAQ
Iraq has gathered its most
Barnes in Washington
competent troops to defend and
Mr. Thiab, a former general
fortify Baghdad, leaving the fight
JORDAN
under Saddam Hussein, comfor Dhuluiya and other Iraqi citmands a unit of tribal fighters
ies outside the capital to a hodgeSAUDI
KUWAIT
also defending Dhuluiya, located
podge of army troops and irreguARABIA
45 miles northeast of Baghdad.
lar forces: Sunni Muslim
Instead of criticism, though, the
tribesmen, Shiite militias and cicombat veteran offered sympathy.
vilians led by such Hussein-era military officers as
“They had no experience fighting, and they were Mr. Thiab.
yelling and panicking,” said Mr. Thiab, who sought
Iraq’s weak military is a legacy of the eight-year
out the frightened troops and promised them help rule of former Prime Minister Nouri al-Maliki, who
from his civilian forces. The former general was replaced competent Sunni military officers in
more pointed about Iraq’s battlefield performance northern and western Iraq with political loyalists
against Islamic State invaders: “Ridiculous,” he and fellow Shiite Muslims, U.S. military officials
said.
said.
The weakness of Iraq’s U.S.-trained military is a
Skilled Shiite military officers were passed over
Please turn to page A10
growing international worry as Islamic State fighters threaten Baghdad, with attacks as close as 12
miles west of the capital.
 Iraq says militants used chlorine gas...................... A10
BY ELIZABETH WILLIAMSON
>
s Copyright 2014 Dow Jones & Company.
All Rights Reserved
 Questions, praise for doctor.. A6
 Speeding up vaccine trials...... A6
WASHINGTON—Jim
Ryan
stands on the desert-white, neon-lit
rooftop of the Las Vegas Convention and Visitors Authority’s headquarters here, admiring the Washington Monument and looking
down on the balconies beneath
him.
One floor below is the pint-size
terrace of law firm Baker & McKenzie. “Funny for a big-shot law
firm,” says Mr. Ryan, the authority’s director. To the north is the
roof of the regal U.S. Chamber of
Commerce building. “A little bor-
New York, New Jersey and
Connecticut instituted involuntary
21-day quarantines Friday on
health-care workers returning
from West Africa, stoking a debate
over how to prevent the spread of
Ebola without impeding humanitarian aid to the stricken region.
The move, which followed
Thursday’s diagnosis of Ebola in
a New York City doctor who
came home recently from
Guinea, was put into effect immediately: a health-care worker
returning from West Africa on
Friday was stopped at Newark
Liberty International Airport and
By Betsy McKay,
Jennifer Maloney
and Louise Radnofsky
put under quarantine order, New
Jersey Gov. Chris Christie said.
The unidentified woman, who
worked with Doctors Without
Borders and had treated Ebola
patients in Africa, had no symptoms when she arrived, but later
developed a fever, officials said.
She was placed in isolation at
Newark’s University Hospital,
the New Jersey medical center
Please turn to page A6
School Shooting Leaves Two Dead
200 miles
TURKEY
i
i
Building Restrictions Limit Locales With a View; Balcony Envy
Opinion................... A11-13
Sports............................ A14
Stock Listings........... B13
Style & Fashion.... D2-3
Travel........................ D9-10
Weather Watch...... B14
Wknd Investor...... B7-9
When the Centers for Disease
Control and Prevention learned
that a doctor in New York City
likely had Ebola on Thursday, it
didn’t wait.
Its infectious diseases chief
and a top Ebola expert were deployed hours before test results
came back for Craig Spencer,
who had recently returned from
treating Ebola patients in West
Africa. A CDC team already in
the city reviewing hospitals’
readiness for Ebola switched
gears and pitched in to help.
The rapid response to America’s latest Ebola case presents a
sharp contrast to the response to
the country’s first case in Dallas
late last month. Hospital and
public-health officials are applying a host of lessons learned
there to prevent any spread of
Ebola in the nation’s most populous city. They are aided by a
public far more aware of the virus’s threat than just weeks ago.
On Friday, federal and state
officials sought to assure Americans that the nation remains
safe. The White House said it
was reviewing U.S. protocols for
monitoring and quarantining
travelers headed to the U.S. from
the three most Ebola-stricken
Please turn to page A6
Clamor for Stocks Resumes, State Quarantines Stoke
Debate Over Monitoring
But Fears Lurk in Market
i
What Will
Obama Say
On Nov. 5?
Approach to Treating New York Doctor
Influenced by Lessons From Dallas
BY BETSY MCKAY, ANA CAMPOY
AND JENNIFER MALONEY
One of the Tightest Races in Washington Is Over Terraces
NOONAN A13
CONTENTS
Books........................ C5-10
Corporate News B1,3-4
Eating......................... D4-6
Gear & Gadgets D1,11-12
Heard on Street.......B14
Letters to Editor.... A12
Dow Jones Industrial Average,
5-minute intervals
Composite
i
t -1.2 %
from Oct. 6
ing—I don’t think they use it
much,” Mr. Ryan says, noting
the lack of furniture.
To the west, he points out
a span running the length of a
luxury office block. “They
don’t even have a view, you
have to lean over the railing
to see anything,” he says.
“Even the airport.”
And then there is Mr.
Ryan’s party-perfect penthouse, with resort-style woven furniture and a neon border whose color can be
changed to suit one’s mood.
“I’m up here every god-
damned night,” Mr. Ryan says.
“I’ve gained 20 pounds drinking Champagne since summer.”
Strict, century-old restrictions on building heights in the
nation’s capital make it difficult for Washingtonians to cop
a good view of the city’s historic skyline, a situation that
has spawned yet another form
of D.C. ladder-climbing: the
race to the rooftop.
Every autumn, especially
during an election year, D.C.
hosts a heavy calendar of political and social events, creating
Please turn to page A5
TAKING REFUGE: In Marysville, Wash., north of Seattle, students and
parents were reunited after gunfire broke out in a high-school cafeteria.
The suspected shooter, a student, was among the dead. A5
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$
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P2JW298000-8-A00100-10EEEB7178F
i
16805.41
Associated Press
i
Newest Case
Shifts Nation’s
Ebola Plan
Uneven Recovery
What’s
News
i
WSJ.com
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