RECONSTRUCTION: Although damage to the southern oil fields in the fighting was comparatively light, those in the north were hit by widespread looting of facilities
In southern Iraq, oil well fires have been extinguished, looted equipment is being recovered, and US officials are optimistic that the oil fields could be producing 1.1 million barrels a day within seven weeks.

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By Mark Hulbert
Investors who expect stocks to surge after the war in Iraq, as they did after the Persian Gulf War in 1991, may be overlooking an important difference. In the weeks before the 1991 conflict, the bears outnumbered the bulls, at least among investment newsletter editors. This time, the reverse has been true -- and bull markets rarely begin when bulls outnumber bears.

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Interest rates have been so low for so long that investors may not be prepared for the long rally in bonds to end, many fund managers, financial advisers and bond traders say.

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VIRTUAL DISASTERS: A couple of new offerings are compared and contrasted, and it just may be that hot graphics aren't all that necessary for an exciting rush
By Charles Herold
Those looking for a slick state-of-the art game with gorgeous graphics and Hollywood-style cinematics would be advised to stay far away from Irem's action-adventure game Disaster Report. With indifferent graphics and acting, an increasingly ridiculous plot and the worst sound of any game in recent memory, Disaster Report is easy to overlook.

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MICROPROCESSORS: Advanced Micro Devices' 64-bit model is going to be unveiled on Tuesday, just after it said on Wall Street that it took market share from Intel
Intel will face its strongest challenge in more than a decade when its archrival, Advanced Micro Devices, formally unveils the Opteron 64b microprocessor next week.

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Computer-related stocks rose this week, led by Tokyo Electron Ltd and Samsung Electronics Co, after earnings at Intel Corp and other US companies beat some analysts' estimates.

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By Daniel Altman
Supporters of President Bush's tax plan don't deny that it offers little if any immediate benefit to the poorest Americans. Nor is there much doubt that the wealthiest would see the greatest gains. Yet meaningful discussion of the potential widening of inequality -- the polarization of rich and poor -- has been sadly lacking.

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Europe's Dow Jones Stoxx 50 and Stoxx 600 indexes recorded their third week of gains as companies including Nokia Oyj and Royal Philips Electronics NV reported earnings that surpassed analyst forecasts.

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The dollar fell for a third week in four against the euro after traders said they were less optimistic about prospects for US economic growth.

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By Carole Gould
The weak economy has made Phillip H. Perelmuter, the manager of the US$1.4 billion Hartford MidCap fund, even more selective than usual.

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