March 5, 2002

Stocks rallied powerfully amid signs that the economy is recovering more quickly and strongly than investors had expected. Economic growth appears to be accelerating, and investors are snapping up stocks in the belief that corporate profits will soon follow. At least for the moment, the economy's recovery has overwhelmed concerns about corporate accounting as well as worries that stocks remain expensive by many historical benchmarks.

Article on search, sponsored by Zeiss Sports Optics, by group of birders and biologists, including habitat biologist Peter McBride, for elusive ivory-billed woodpecker in Pearl River Wildlife Management Area in Slidwell, La; no sightings have been confirmed since 1950's but Louisiana State University student reported seeing pair in spring of 1999; photos (M)

Seven American soldiers are killed in some of fiercest fighting of five-month war in Afghanistan as US ground forces take lead in large-scale combat operation for first time; die in incidents involving two helicopters, one hit by rocket-propelled grenade, while attempting to drop off reconaissance teams during heavy fighting in nearly inaccessible mountains near Gardez in east; deaths, along with that of Special Forces soldier day earlier, bring total casualties to eight killed and approximately 40 wounded since start of operation on March 2 to wipe out pocket of hard-core Al Qaeda fighters; operation involving approximately 2000 allied troops described; commander Gen Tommy R Franks comments; Pres Bush voices sadness over loss of American servicemen, but says he is determined to fulfill mission troops were sent to perform and to make sure US is free from further attack; photos; map; diagram (M)

New Jersey Supreme Court imposes strict limits on consensual auto searches that have been at heart of furor over racial profiling by state police; ruling is expected to affect police practices throughout state; court holds that before asking driver's permission to search, officer must have 'reasonable and articulable suspicion' of criminal activity; defense lawyers have expressed doubts that such searches can be truly consensual (M)

New York Yankees shortstop Derek Jeter strains his neck; joins Jason Giambi on disabled list; photo (M)

US and Argentina are fighting over honey exports as US accuses Argentina of dumping honey on American market; Argentina has become world's leading exporter of honey, selling nearly 90,000 tons per year to foreign markets, with almost half of it going to US; US has placed tariffs of up to 66 percent on Argentine honey, effectively shutting it out of market; decision, which went into effect in November, has dealt serious blow to industry that earned $86.6 million in much-needed foreign exchange in 2000 and provides livelihood to thousands of farmers; officials argue that Argentine beekeepers are being unfairly punished for being more efficient; Argentina's position is largely shared by honey importers in US; Sunland International president Nicholas Sargeantson says Argentine honey is very high quality, adding that some packers prefer it to domestic honey because it is cleaner; adds Commerce Department ruling against Argentina illustrates 'the immense hypocrisy of US trade law' (M)

Ted Koppel issues carefully worded response to ABC's efforts to replace his news program Nightline with show starring David Letterman; Koppel, in article published in March 5 article in Op-Ed page of New York Times, says he hopes program will not lose its time slot; he hints that if if does, it might find another home, but not necessarily at ABC; criticizes executives for saying program is outdated; Koppel's response comes as Robert A Iger, president of Walt Disney Co, parent of ABC, meets with Koppel in Washington; photo (M)

Leaders of union representing more than 5,000 striking workers at government-owned Korea Electric Power Co hold out in tents behind Roman Catholic cathedral in central Seoul after police arrest 11 union members elsewhere and vow to round up still more; church officials ask union leaders to leave grounds but also ask police not to stage raid on chuch property (S)

Stocks rally powerfully for second consecutive session amid signs that economy is recovering more quickly and strongly that investors expected; Dow Jones industrial average gains 217.96 points, or 2.1 percent, to 10,586.82, its highest level in seven months; Standard & Poor's 500-stock index rises 22.06 points, or 2 percent, to 1,153.84, while Nasdaq composite index soars 56.58 points, or 3.1 percent, to 1,859.32; graphs; charts (M)

Article on discussions among researchers and scientists, during annual meeting of American Assn for Advancement of Science, about what it might be like for humans to undertake light-years-long space travel; photo (M)

New York Knicks will likely announce that coach Don Cheney will be given contract extension, which is surprising considering he has led Knicks to 11-27 record and his team will most likely miss playoffs for first time in 15 seasons; photos (M)

HSBC reports 14 percent decline in pretax profit, to $8.8 billion, compared with $10.3 billion last year, as it wrote down $1.12 billion in Argentine investments after that country's currency was devalued (S)