Showing posts with label World. Show all posts
Showing posts with label World. Show all posts

Space Junk Menace: How to Deal with Orbital Debris






The saga of what steps that must be taken to deal with the evolving threat of Earth-circling orbital debris is a work in progress.  This menacing problem — and the possible cleanup solutions — is international in scope.


Space junk is an assortment of objects in Earth orbit that is a mix of everything from spent rocket stages, derelict satellites, chunks of busted up spacecraft to paint chips, springs and bolts. A satellite crash in February 2009, for example, marked the first accidental hypervelocity crash between two intact artificial satellites in Earth orbit. That cosmic crash created significant debris — a worrisome amount of leftover bits and pieces.






Against this backdrop of untidiness in space and the global worry among spacefaring countries it causes, experts continue to tackle the issue of exactly what to do about orbital debris. A number of rules have been pondered to address the space debris problem, from regulations that attempt to cut down on the shedding of new debris to better tracking of the human-made refuge, as well as scavenging concepts including fishing nets, lasers and garbage scows.


But how to best characterize the orbital debris dilemma, and its future, also stirs up debate and heated dialogue.


Point of no return


The clutter in Earth orbit is a situation that will continue to worsen, according to Marshall Kaplan, founder and principal of Launchspace in Bethesda, Md.


“The problem is that we’ve already fallen off that cliff,” Kaplan told SPACE.com. “That’s the reality of it and people don’t want to admit that reality.” [Photos of Space Junk & Cleanup Ideas]


Spending millions of dollars to retrieve space junk isn’t effective, Kaplan said.


Now, ways to better track and identify space debris are being devised. Low-Earth orbit is where the main problem is — from roughly 435 miles (700 kilometers) to about 745 miles (1,200 km), he said.


“It’s a serious, serious challenge,” Kaplan said. “This is not a U.S. problem … it’s everybody’s problem. And most of the people that produced the debris, the serious offenders, like Russia, China, and the United States, are not going to spend that kind of money. It’s just not a good investment.”


While the creation of orbiting junk continues rise with each rocket launch, there is no market for tackling the issue directly, Kaplan said.


“We’ve reached the point of no return. The debris will continue to get worse in terms of collision threats … even if not another satellite were launched, the problem will continue to get worse,” he added.


Speeding debris crashes


Kaplan said the frequency of collisions between active satellites and debris pieces is going to increase.


The real question, Kaplan said, is not what everyone is going to do about debris. Rather, the true question is what needs to be done about active satellites in harm’s way of speeding riffraff.


“My prediction is that we are going to evacuate the areas of high debris density. It’s just too dangerous to operate there. We’re going to need to reinvent how we use space,” Kaplan said. [Worst Space Debris Events of All Time]


In the case of large national security satellite assets, one option may be to distribute smaller satellites in lower altitudes, Kaplan added. These multiple layers of spacecraft would collectively create virtual products, such as imagery and other intelligence data. The users of this information would receive the same kind of data, but from a different satellite constellation, he said.


As one step toward that future, Kaplan is working with multiple universities to help establish new research centers on space debris and a next-generation national security space architecture.


Environmental stability


Darren McKnight, technical director for Integrity Applications Incorporated, headquartered in Chantilly, Va., suggested that the current debate on active debris removal and the evolution of the debris environment is still developing.


McKnight said that, currently, policymakers and engineers examine environmental stability, preventing the cascading of derelict collisions from increasing exponentially over the next century. This scenario, known as the “Kessler Syndrome,” is the primary metric to judge how many derelicts need to be removed and when they should be removed.


The Kessler Syndrome is one in which the density of objects in low Earth orbit is high enough that collisions between objects could cause a cascade. Each collision generates space debris, which increases the likelihood of further collisions. [Solar Sails Could Sweep Up Space Junk (Video)]


“The overall issue is that as we continue to consider active debris removal options, I question whether or not environment stability is the only metric to be tracking,” McKnight told SPACE.com.


Lethal space debris


McKnight, along with company colleague Frank Di Pentino, propose that the probability of satellite failure from impact from non-trackable, yet lethal debris fragments — in the 5 millimeter to 10 centimeter size range — is a more appropriate metric. The reason is because it directly reflects harmful effects of space debris on space operations. Furthermore, these effects are likely to occur much sooner than observable manifestations of the cascading effect.


McKnight and Di Pentino’s research suggests that any mitigation scheme, be it just-in-time collision avoidance, active debris removal or other methods, cannot rely on a model that does not account for projected add rates, new launches on other factors. They contend that collision rate is “not a sufficient metric” for assessing operational risk.


Wanted: A long-term plan


There is much work to do regarding orbital debris, said Donald Kessler, chair of the 2011 National Research Council (NRC) report “Limiting Future Collision Risk to Spacecraft: An Assessment of NASA’s Meteoroid and Orbital Debris Programs.” He is a retired head of NASA’s Orbital Debris Program Office and is a space debris and meteoroid consultant in Asheville, N.C.


Kessler said that the NRC committee that produced the report strongly felt that what was missing from the programs was a long-term strategic plan — one that outlined a path that eventually determines how  manage future space operations in a way that preserves the environment.


“However, this is not simply a NASA issue … it is an international issue, and will require a carefully coordinated effort,” Kessler said.


Can the space junk problem be solved?


NASA and the international community, Kessler said, “have already done enough research to know that the environment will continue to get worse if we continue on the same path … the only environmental issue to be resolved is how quickly the environment in various regions deteriorates.”


The international community, through the Inter-Agency Space Debris Coordination Committee (IADC), has been very active in understanding the current environmental trends, sharing information and establishing internationally recognized mitigation requirements.


However, Kessler said that current mitigation practices are insufficient, even with 100 percent compliance. Missing in action is a plan to determine what do about the predicted worsening space environment, he said — that is, how to stop or reverse the trend of increased debris resulting from increased collisions.


Sustainable environment


Kessler added that the fundamental issues to be resolved are:


  • How do we minimize the possibility of future high-velocity collisions between spacecraft and upper stage rockets?

  • If we cannot eliminate that prospect, how do we clean up after a collision?

“Removal from orbit, collision avoidance, satellite servicing and repair, satellite recycling in orbit, debris storage locations, change to using a ‘stable plane’ at higher altitudes especially in Geosynchronous Earth Orbit (GEO) … are all possibilities,” Kessler added. “Some are mutually exclusive and may not be appropriate at all altitudes, while others could combine to be more effective.”


Still to be sorted out is what type of legal structure might be needed in order to implement any plan, Kessler said.


“I believe it is time that the international community takes a serious look at the future of space operations,” Kessler said. “There’s need to begin a process to answer these questions and determine which path will most effectively provide a sustainable environment for spacecraft in Earth orbit.”


Leonard David has been reporting on the space industry for more than five decades. He is former director of research for the National Commission on Space and a past editor-in-chief of the National Space Society’s Ad Astra and Space World magazines. He has written for SPACE.com since 1999.


Copyright 2013 SPACE.com, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Space and Astronomy News Headlines – Yahoo! News





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Wall Street Week Ahead: Bears hibernate as stocks near record highs

NEW YORK (Reuters) - Stocks have been on a tear in January, moving major indexes within striking distance of all-time highs. The bearish case is a difficult one to make right now.


Earnings have exceeded expectations, the housing and labor markets have strengthened, lawmakers in Washington no longer seem to be the roadblock that they were for most of 2012, and money has returned to stock funds again.


The Standard & Poor's 500 Index <.spx> has gained 5.4 percent this year and closed above 1,500 - climbing to the spot where Wall Street strategists expected it to be by mid-year. The Dow Jones industrial average <.dji> is 2.2 percent away from all-time highs reached in October 2007. The Dow ended Friday's session at 13,895.98, its highest close since October 31, 2007.


The S&P has risen for four straight weeks and eight consecutive sessions, the longest streak of days since 2004. On Friday, the benchmark S&P 500 ended at 1,502.96 - its first close above 1,500 in more than five years.


"Once we break above a resistance level at 1,510, we dramatically increase the probability that we break the highs of 2007," said Walter Zimmermann, technical analyst at United-ICAP, in Jersey City, New Jersey. "That may be the start of a rise that could take equities near 1,800 within the next few years."


The most recent Reuters poll of Wall Street strategists estimated the benchmark index would rise to 1,550 by year-end, a target that is 3.1 percent away from current levels. That would put the S&P 500 a stone's throw from the index's all-time intraday high of 1,576.09 reached on October 11, 2007.


The new year has brought a sharp increase in flows into U.S. equity mutual funds, and that has helped stocks rack up four straight weeks of gains, with strength in big- and small-caps alike.


That's not to say there aren't concerns. Economic growth has been steady, but not as strong as many had hoped. The household unemployment rate remains high at 7.8 percent. And more than 75 percent of the stocks in the S&P 500 are above their 26-week highs, suggesting the buying has come too far, too fast.


MUTUAL FUND INVESTORS COME BACK


All 10 S&P 500 industry sectors are higher in 2013, in part because of new money flowing into equity funds. Investors in U.S.-based funds committed $3.66 billion to stock mutual funds in the latest week, the third straight week of big gains for the funds, data from Thomson Reuters' Lipper service showed on Thursday.


Energy shares <.5sp10> lead the way with a gain of 6.6 percent, followed by industrials <.5sp20>, up 6.3 percent. Telecom <.5sp50>, a defensive play that underperforms in periods of growth, is the weakest sector - up 0.1 percent for the year.


More than 350 stocks hit new highs on Friday alone on the New York Stock Exchange. The Dow Jones Transportation Average <.djt> recently climbed to an all-time high, with stocks in this sector and other economic bellwethers posting strong gains almost daily.


"If you peel back the onion a little bit, you start to look at companies like Precision Castparts , Honeywell , 3M Co and Illinois Tool Works - these are big, broad-based industrial companies in the U.S. and they are all hitting new highs, and doing very well. That is the real story," said Mike Binger, portfolio manager at Gradient Investments, in Shoreview, Minnesota.


The gains have run across asset sizes as well. The S&P small-cap index <.spcy> has jumped 6.7 percent and the S&P mid-cap index <.mid> has shot up 7.5 percent so far this year.


Exchange-traded funds have seen year-to-date inflows of $15.6 billion, with fairly even flows across the small-, mid- and large-cap categories, according to Nicholas Colas, chief market strategist at the ConvergEx Group, in New York.


"Investors aren't really differentiating among asset sizes. They just want broad equity exposure," Colas said.


The market has shown resilience to weak news. On Thursday, the S&P 500 held steady despite a 12 percent slide in shares of Apple after the iPhone and iPad maker's results. The tech giant is heavily weighted in both the S&P 500 and Nasdaq 100 <.ndx> and in the past, its drop has suffocated stocks' broader gains.


JOBS DATA MAY TEST THE RALLY


In the last few days, the ratio of stocks hitting new highs versus those hitting new lows on a daily basis has started to diminish - a potential sign that the rally is narrowing to fewer names - and could be running out of gas.


Investors have also cited sentiment surveys that indicate high levels of bullishness among newsletter writers, a contrarian indicator, and momentum indicators are starting to also suggest the rally has perhaps come too far.


The market's resilience could be tested next week with Friday's release of the January non-farm payrolls report. About 155,000 jobs are seen being added in the month and the unemployment rate is expected to hold steady at 7.8 percent.


"Staying over 1,500 sends up a flag of profit taking," said Jerry Harris, president of asset management at Sterne Agee, in Birmingham, Alabama. "Since recent jobless claims have made us optimistic on payrolls, if that doesn't come through, it will be a real risk to the rally."


A number of marquee names will report earnings next week, including bellwether companies such as Caterpillar Inc , Amazon.com Inc , Ford Motor Co and Pfizer Inc .


On a historic basis, valuations remain relatively low - the S&P 500's current price-to-earnings ratio sits at 15.66, which is just a tad above the historic level of 15.


Worries about the U.S. stock market's recent strength do not mean the market is in a bubble. Investors clearly don't feel that way at the moment.


"We're seeing more interest in equities overall, and a lot of flows from bonds into stocks," said Paul Zemsky, who helps oversee $445 billion as the New York-based head of asset allocation at ING Investment Management. "We've been increasing our exposure to risky assets."


For the week, the Dow climbed 1.8 percent, the S&P 500 rose 1.1 percent and the Nasdaq advanced 0.5 percent.


(Reporting by Ryan Vlastelica; Additional reporting by Chuck Mikolajczak; Editing by Jan Paschal)



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Bulgaria holds nuclear power referendum






SOFIA, Bulgaria (AP) — Bulgarians are voting in a referendum on whether a new nuclear power plant should be built in the European Union‘s poorest member country, a choice also seen as a barometer of the country’s relationship with Russia.


Sunday’s vote was called by the opposition Socialist party in an effort to force the government to reverse its decision to scrap a deal with Russia on the construction of a second nuclear plant.






Bulgaria’s first referendum since the fall of communism in 1989 has polarized opinion along party lines. It has been seen as a test ahead of general elections in July, but also as a chance to loosen Moscow’s energy grip.


The latest polls estimate a low turnout, which could make the referendum invalid. At least 60 percent of the electorate must take part.


Energy News Headlines – Yahoo! News





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Wall Street Week Ahead: Bears hibernate as stocks near record highs

NEW YORK (Reuters) - Stocks have been on a tear in January, moving major indexes within striking distance of all-time highs. The bearish case is a difficult one to make right now.


Earnings have exceeded expectations, the housing and labor markets have strengthened, lawmakers in Washington no longer seem to be the roadblock that they were for most of 2012, and money has returned to stock funds again.


The Standard & Poor's 500 Index <.spx> has gained 5.4 percent this year and closed above 1,500 - climbing to the spot where Wall Street strategists expected it to be by mid-year. The Dow Jones industrial average <.dji> is 2.2 percent away from all-time highs reached in October 2007. The Dow ended Friday's session at 13,895.98, its highest close since October 31, 2007.


The S&P has risen for four straight weeks and eight consecutive sessions, the longest streak of days since 2004. On Friday, the benchmark S&P 500 ended at 1,502.96 - its first close above 1,500 in more than five years.


"Once we break above a resistance level at 1,510, we dramatically increase the probability that we break the highs of 2007," said Walter Zimmermann, technical analyst at United-ICAP, in Jersey City, New Jersey. "That may be the start of a rise that could take equities near 1,800 within the next few years."


The most recent Reuters poll of Wall Street strategists estimated the benchmark index would rise to 1,550 by year-end, a target that is 3.1 percent away from current levels. That would put the S&P 500 a stone's throw from the index's all-time intraday high of 1,576.09 reached on October 11, 2007.


The new year has brought a sharp increase in flows into U.S. equity mutual funds, and that has helped stocks rack up four straight weeks of gains, with strength in big- and small-caps alike.


That's not to say there aren't concerns. Economic growth has been steady, but not as strong as many had hoped. The household unemployment rate remains high at 7.8 percent. And more than 75 percent of the stocks in the S&P 500 are above their 26-week highs, suggesting the buying has come too far, too fast.


MUTUAL FUND INVESTORS COME BACK


All 10 S&P 500 industry sectors are higher in 2013, in part because of new money flowing into equity funds. Investors in U.S.-based funds committed $3.66 billion to stock mutual funds in the latest week, the third straight week of big gains for the funds, data from Thomson Reuters' Lipper service showed on Thursday.


Energy shares <.5sp10> lead the way with a gain of 6.6 percent, followed by industrials <.5sp20>, up 6.3 percent. Telecom <.5sp50>, a defensive play that underperforms in periods of growth, is the weakest sector - up 0.1 percent for the year.


More than 350 stocks hit new highs on Friday alone on the New York Stock Exchange. The Dow Jones Transportation Average <.djt> recently climbed to an all-time high, with stocks in this sector and other economic bellwethers posting strong gains almost daily.


"If you peel back the onion a little bit, you start to look at companies like Precision Castparts , Honeywell , 3M Co and Illinois Tool Works - these are big, broad-based industrial companies in the U.S. and they are all hitting new highs, and doing very well. That is the real story," said Mike Binger, portfolio manager at Gradient Investments, in Shoreview, Minnesota.


The gains have run across asset sizes as well. The S&P small-cap index <.spcy> has jumped 6.7 percent and the S&P mid-cap index <.mid> has shot up 7.5 percent so far this year.


Exchange-traded funds have seen year-to-date inflows of $15.6 billion, with fairly even flows across the small-, mid- and large-cap categories, according to Nicholas Colas, chief market strategist at the ConvergEx Group, in New York.


"Investors aren't really differentiating among asset sizes. They just want broad equity exposure," Colas said.


The market has shown resilience to weak news. On Thursday, the S&P 500 held steady despite a 12 percent slide in shares of Apple after the iPhone and iPad maker's results. The tech giant is heavily weighted in both the S&P 500 and Nasdaq 100 <.ndx> and in the past, its drop has suffocated stocks' broader gains.


JOBS DATA MAY TEST THE RALLY


In the last few days, the ratio of stocks hitting new highs versus those hitting new lows on a daily basis has started to diminish - a potential sign that the rally is narrowing to fewer names - and could be running out of gas.


Investors have also cited sentiment surveys that indicate high levels of bullishness among newsletter writers, a contrarian indicator, and momentum indicators are starting to also suggest the rally has perhaps come too far.


The market's resilience could be tested next week with Friday's release of the January non-farm payrolls report. About 155,000 jobs are seen being added in the month and the unemployment rate is expected to hold steady at 7.8 percent.


"Staying over 1,500 sends up a flag of profit taking," said Jerry Harris, president of asset management at Sterne Agee, in Birmingham, Alabama. "Since recent jobless claims have made us optimistic on payrolls, if that doesn't come through, it will be a real risk to the rally."


A number of marquee names will report earnings next week, including bellwether companies such as Caterpillar Inc , Amazon.com Inc , Ford Motor Co and Pfizer Inc .


On a historic basis, valuations remain relatively low - the S&P 500's current price-to-earnings ratio sits at 15.66, which is just a tad above the historic level of 15.


Worries about the U.S. stock market's recent strength do not mean the market is in a bubble. Investors clearly don't feel that way at the moment.


"We're seeing more interest in equities overall, and a lot of flows from bonds into stocks," said Paul Zemsky, who helps oversee $445 billion as the New York-based head of asset allocation at ING Investment Management. "We've been increasing our exposure to risky assets."


For the week, the Dow climbed 1.8 percent, the S&P 500 rose 1.1 percent and the Nasdaq advanced 0.5 percent.


(Reporting by Ryan Vlastelica; Additional reporting by Chuck Mikolajczak; Editing by Jan Paschal)



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Stock futures edge up, S&P 500 poised to extend rally

NEW YORK (Reuters) - Stock index futures gained on Friday after Procter & Gamble reported a higher quarterly profit and as the S&P 500 looked set to extend its best winning streak in more than six years.


The strong start to the year has been attributed to solid corporate earnings, agreement in Washington over raising the debt limit, encouraging recovery signs in the global economy and seasonal inflows to equity markets.


Those factors helped the S&P 500 rally for a seventh day on Thursday to a five-year peak. But the index is struggling to move convincingly above 1,500, a level it surpassed briefly Thursday for the first time since December 2007.


"You have had more confidence from fund managers to provide more allocations to equity markets," said Rick Meckler, president of investment firm LibertyView Capital Management, who added equities were looking more attractive than bonds or cash.


Procter & Gamble , the world's top household products maker reported a higher profit on Friday and raised its sales and earnings outlook for the fiscal year. Shares were up 1.4 pct at $71.42 in premarket trading.


Earnings have helped drive the stock market's recent rally. Thomson Reuters data through early Thursday showed that of the 133 S&P 500 companies that have reported earnings so far, 66.9 percent have exceeded expectations, above the 65 percent average over the past four quarters.


Microsoft Corp's quarterly profit edged lower as Office software sales slowed ahead of a new launch, offsetting a solid but unspectacular start for its Windows 8 operating system and sending the company's shares down 1.1 percent.


S&P 500 futures rose 3.2 point and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures rose 44 points and Nasdaq 100 futures rose 9.75 points.


Echoing a more positive tone in Europe, ECB President Mario Draghi said he expects the euro zone economy to recover later this year, adding that financial market improvements have not yet trickled into the general economy. Draghi was speaking at the World Economic Forum in Davos on Friday.


Halliburton , the world's second-largest oilfield services company, is also due to report results.


Apple stepped up audits of working conditions at major suppliers last year, discovering multiple cases of underage workers, discrimination and wage problems. The shares, which fell 12 percent Thursday after disappointing earnings, edged up 0.2 percent to $451.80.


Honeywell , the diversified U.S. manufacturer, will be in focus as it reports earnings, with modest growth in demand for systems used to manage large buildings expected to be offset by declining sales to the military.


The Commerce Department releases new home sales data for December at 10:00 a.m. (1500 GMT). Economists forecast a total of 385,000 annualized units, compared with 377,000 in November.


Economic Cycle Research Institute releases its weekly index of economic activity for January 18 at 10:30 a.m. (1530 GMT). In the prior week the index read 130.


European shares <.fteu3> rose 0.1 percent after a survey showed German business morale improved for a third consecutive month in January.


(Editing by Bernadette Baum)



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3 On Your Side: Cold Weather Car Advice







By Jim Donovan


PHILADELPHIA (CBS) – As the coldest weather to hit the area in two years has settled in, we can consider ourselves lucky that we haven’t had to deal with much snow like much of the Midwest has. Eventually though, we’ll have to deal with it too, and many drivers aren’t prepared for the task of driving in it. So 3 On Your Side Consumer Reporter Jim Donovan has advice to prepare for the next round of weather.







This blast of arctic air isn’t welcomed by many motorists and service calls are soaring. On Wednesday, AAA Mid-Atlantic responded to over 2,600 dead battery calls alone.


The time to think about preparing your car for driving in winter weather is before the snow starts piling up. According to AAA, there are some simple things drivers can do to get their car ready like considering winter wiper blades wrapped in rubber to reduce buildup of ice and snow on the glass. You should inspect the tread on tires, and keep them properly inflated. When the temperature drops, so will the pressure inside of your tires.


Your emergency road kit should be updated for the winter months with items like blankets, extra gloves, hats, scarves, an ice scraper and brush and a bag of abrasive material like sand or salt.


When snow and ice start to cover the roadways, make sure your gas tank stays at least half-full to avoid gas line freeze-ups. Don’t use cruise control on slick surfaces, avoid tailgating to allow for extra braking distance, and if you do feel your wheels slipping, don’t slam on the brakes — continue to look and steer in the direction you want to go.


In frigid temperatures, frozen door locks are common. Never pour hot water on a lock or windshield because this could make it worse or cause the window to shatter. Instead, carefully heat the end of the key with a match or lighter. If that doesn’t work, sometimes dipping the tip of the key in rubbing alcohol, using a can of de-icer spray, or heating the lock with a hair dryer will work too.




Weather News Headlines – Yahoo! News





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Stock futures drop as Apple revenue miss to halt stocks rally


NEW YORK (Reuters) - Stock index futures fell Thursday as Apple slid nearly 10 percent following a revenue miss, and analysts said equities may be due for a pullback after a six-day rally for the S&P 500.


Apple Inc missed Wall Street's revenue forecast for a third straight quarter after iPhone sales came in below expectations, fanning fears its dominance of consumer electronics is slipping. The shares dropped 8.8 percent to $468.64 in premarket trading, wiping out about $50 billion of its market value.


However, some positive economic news looked set to put a floor under stock prices. Growth in Chinese manufacturing accelerated to a two-year high this month and a buoyant Germany took the euro zone economy a step closer to recovery, business surveys showed on Thursday.


"The march to 1,500 on the S&P is looking quite strong, the question is will Apple be the spoiler?" said Peter Cardillo, chief market economist at Rockwell Global Capital in New York.


"My guess is that while Nasdaq might suffer losses today, both the Dow and the S&P may do otherwise based on economic news out of China and Europe."


The S&P 500 rose for a sixth day on Wednesday after stronger-than-expected profits from IBM and Google . But Apple could now halt that rally, which had lifted stocks to five-year highs.


S&P 500 futures fell 3.7 point and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures rose 15 points and Nasdaq 100 futures fell 34.75 points.


Apple's disappointing results drew a round of price-target cuts from brokerages. At least seven brokerages, including Barclays Capital, Credit Suisse and Deutsche Bank, cut their price target on the stock by $142 on average to $617.80. Morgan Stanley removed the stock from its 'best ideas' list.


Helping the Dow industrials, diversified U.S. manufacturer 3M Co reported a 3.9 percent rise in profit on solid growth in sales of its wide array of products, which range from Post-It notes to films used in television screens. The shares rose 0.7 percent in premarket trading.


Corporate earnings have helped drive the recent stock market rally. Thomson Reuters data through Wednesday showed that of the 99 S&P 500 companies that have reported earnings, 67.7 percent have exceeded expectations, above the 65 percent average over the past four quarters.


Investors in U.S.-based mutual funds pumped $9.32 billion into stock funds in the week ended January 16, the second consecutive week of inflows for such funds, data from the Investment Company Institute showed Wednesday.


Netflix Inc surprised Wall Street Wednesday with a quarterly profit after the video subscription service added nearly 4 million customers in the U.S. and abroad. Shares jumped nearly 40 percent in premarket trading.


Removing another element of political uncertainty from markets, the U.S. House of Representatives on Wednesday passed a Republican plan to allow the federal government to keep borrowing money through mid-May, clearing it for fast enactment after the top Senate Democrat and White House endorsed it.


(Editing by Bernadette Baum)



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Adelie penguins: cool, efficient killing machines






TOKYO (Reuters) – Fish of the Antarctic, be very afraid. There’s an unlikely stealth predator on the loose – Adelie penguins.


Forget their ungainly waddling on land or comical bobbing at the ocean’s surface. As soon as these penguins dive into the icy Antarctic ocean, they become calculating, efficient killing machines, say Japanese researchers.






“You could say the penguins have an amazing stealth mode,” said Yuuki Watanabe, a researcher at Japan’s National Institute of Polar Research. “They’re great at sneaking up on their prey and taking them unaware.”


Watanabe this week released footage recorded in December 2010 showing a bird’s eye view of a hunt for fish and small crustaceans called krill, captured using a small video camera strapped to the backs of more than a dozen penguins.


“The krill wiggle their bodies about, they clearly make an attempt to swim off at full speed and escape,” Watanabe said of his findings, published in the U.S.-based Proceedings of the National Academy of Sciences this week.


“But that doesn’t make the slightest difference to the penguins. They just gobble up the krill that are trying to get away and swallow them whole.”


Using the “penguin cams,” which were set to automatically switch on when a penguin entered the water and shoot for 90 minutes, Watanabe and his team were able to capture the secrets of penguins on the hunt.


Additional information came from two accelerometers strapped to each bird that measured its head and body movements to calculate how fast it devoured its prey.


“We didn’t really know if the penguins caught krill one-by-one. I’d thought that maybe they just got into their stomachs when they were after some other prey,” Watanabe said. “But when we saw the footage it turned out the penguins were doing just that, eating these tiny little creatures one after the other.”


Not only that, the penguins didn’t swim randomly but hung poised on the edge of the ice until a thick swarm neared, then swooped into the water. Footage showed a penguin zooming under the ice and then deeper, its head snapping rapidly up as it fed.


The krill killing-rate was both fast and efficient. The penguins gobbled an average of two krill per second when the krill were clustered in swarms, a much faster rate than under general hunting conditions when the penguins consumed about 244 krill in roughly 90 minutes.


“I was so happy when I got the footage of a penguin going straight into a swarm of krill and gorging itself,” Watanabe said.


Penguin research completed, Watanabe now aims to repeat the same exercise with sharks.


(Writing by Elaine Lies, Editing by Michael Perry)


Science News Headlines – Yahoo! News





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Stock futures flat, but techs rally in premarket


NEW YORK (Reuters) - Stock index futures were flat on Wednesday, with investors reluctant to make big bets following a five-day rally that took major averages to levels not seen since December 2007.


Tech shares will be in focus with earnings due from tech heavyweight Apple and following strong results from both IBM and Google, which rallied in premarket trading and continued the string of major companies outperforming following results.


Investors were also cautious as they awaited another onslaught of earnings reports, including from Dow component McDonald's Corp . Apple Inc reports after the market's close and investors will scour that report for signs the company can continue to grow at an accelerated pace.


"The market has an upward bias because earnings have generally been better than most expected, but whether we take another leg up from here depends on Apple," said Oliver Purshe, president of Gary Goldberg Financial Services in Suffern, New York. "That is such a heavily watched stock that if it doesn't come out with strong numbers we could take a pause."


Google Inc rose 5.1 percent to $738.61 in light premarket trading a day after the search giant's core Internet business outpaced expectations. Revenue was also higher than expected.


International Business Machines Corp late Tuesday forecast better-than-anticipated 2013 results and also posted fourth-quarter earnings and revenue that beat expectations. The results helped to allay concerns about the tech sector that arose when Intel Corp gave a weak outlook last week. IBM, which is a Dow component, rose 3.9 percent to $203.81 before the bell.


Dow component United Technologies Corp reported earnings that fell from the prior year, hurt by large restructuring charges.


Coach Inc slumped 12 percent to $53.20 before the bell after reporting sales that missed expectations.


According to the latest Thomson Reuters data, of the 74 S&P 500 companies that have reported earnings so far, 62.2 percent have topped expectations, roughly even with the 62 percent average since 1994, but below the 65 percent average over the past four quarters.


Overall, S&P 500 fourth-quarter earnings rose 2.6 percent, according to Thomson Reuters data. That estimate is above the 1.9 percent forecast from the start of earnings season, but well below the 9.9 percent fourth-quarter earnings forecast from October 1, the data showed.


S&P 500 futures fell 1.8 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures rose 3 points and Nasdaq 100 futures rose 4 points.


Both the S&P 500 and Dow Jones industrial average hit five-year closing highs on Tuesday, and recent gains have largely been fueled by a strong start to the earning season. The S&P has jumped 6.4 percent over the past four weeks.


Republican leaders in the U.S. House of Representatives aim on Wednesday to pass a bill to extend the U.S. debt limit by nearly four months, to May 19. The White House welcomed the move, saying it would remove uncertainty about the issue.


The debt limit issue has been viewed as a market overhang for the past few weeks, with many investors worried that if no deal is reached to raise the limit, it could have a negative impact on the economy.


"We're raising our year-end target from 1,535 to about 1,575, in part because of the strong fourth-quarter earnings, but also because with the debt ceiling off the table that's a headwind removed from the market," Purshe said.


(Editing by W Simon and Kenneth Barry)



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Exxon Mobil meets Kurd leader after Baghdad talks






BAGHDAD (AP) — Iraq’s Kurdish regional government says its president has held talks with the head of Exxon Mobil amid signs that the energy giant may be exploring new options with the Kurds’ rival, the central government in Baghdad.


The Kurds said late Tuesday that regional President Massoud Barzani met with Exxon Chairman and CEO Rex Tillerson in Switzerland and discussed company activities. It gave no further details.






Exxon infuriated Baghdad in 2011 by signing a deal with the Kurds to hunt for oil in their region and in nearby disputed territories.


Tillerson’s talks followed a rare meeting Monday with Iraqi Prime Minister Nouri al-Maliki.


Exxon had planned to sell a key stake in Iraq’s south and focus instead on the Kurdish contract, though Monday’s talks prompted speculation it is reconsidering those plans.


Energy News Headlines – Yahoo! News





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Stock futures flat at five-year highs, investors await earnings

NEW YORK (Reuters) - Stock index futures were flat on Tuesday as investors held back from making large bets ahead of an onslaught of corporate earnings and after recently notching five-year highs.

Both the Dow and S&P 500 closed at their highest levels the earnings season. U.S. markets were closed on Monday for a public holiday.

Despite stronger-than-expected earnings results from major companies, including big banks, at the start of the quarterly reporting season, many investors are worried that other reports will reflect economic uncertainty in the fourth quarter.

"The market has been pleased with earnings thus far, and it is encouraging to see a cyclical company like DuPont show revenue strength, but I'm waiting on more tech and energy earnings until I come down one way or the other on this season," said Adam Sarhan, chief executive of Sarhan Capital in New York.

posted a steep drop in earnings on reduced demand for paint pigment, though revenue was ahead of expectations.

Verizon Communications Inc fell 1.1 percent to $42.06 in premarket trading after reporting a steep loss due to pension liabilities and charges related to superstorm Sandy that offset strength in its wireless business. Travelers Cos Inc also posted earnings that were hurt by losses related to Sandy.


DuPont, Verizon and Travelers are all Dow components, as is Johnson & Johnson , slated to report later Tuesday along with Google Inc and Texas Instruments . Tech earnings will be in particular focus after Intel Corp last week gave a revenue outlook that was below expectations.


Overall, S&P 500 fourth-quarter earnings are forecast to have risen 2.5 percent, according to Thomson Reuters data. That estimate is above the 1.9 percent forecast from a week ago but well below the 9.9 percent fourth-quarter earnings forecast from October 1, the data showed.


S&P 500 futures rose 0.3 point but remained below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures fell 8 points and Nasdaq 100 futures rose 5 points.


Monday was a market holiday for Martin Luther King Day in the United States, and also marked the start of a second term for President Barack Obama, who called for aggressive action on climate change, economic equality and the federal budget.


"It remains a question whether Obama will be able to deliver on his agenda, but a sector like solar power companies could continue to be strong as he pushes for action," Sarhan said.


Markets have recently been pressured by uncertainty stemming from Washington about the federal debt limit and spending cuts that could hamper U.S. growth.


Republican leaders in the House of Representatives said they aim to pass on Wednesday a nearly four-month extension of the U.S. debt limit, allowing the government to borrow enough to meet its obligations during that period.


U.S. shares of Research in Motion jumped 8.9 percent to $17.25 in premarket trading after its chief executive said the company may consider strategic alliances with other companies after the launch of devices powered by RIM's new BlackBerry 10 operating system.


The Dow and S&P 500 closed at five-year highs on Friday as the market registered a third straight week of gains on a solid start to the quarterly earnings season, including from Morgan Stanley and General Electric Co .


(Editing by Chizu Nomiyama)

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Democrats, environmentalists hail Obama’s focus on climate, but warn about Canada pipeline






WASHINGTON – Environmental groups hailed President Barack Obama’s warning about climate change, but said the president’s words will soon be tested as he decides whether to approve the Keystone XL oil pipeline from Canada to the Gulf Coast.


Obama pledged in his inaugural speech Monday to respond to what he called the threat of climate change, saying that “failure to do so would betray our children and future generations.”






By singling out climate change, Obama indicated a willingness to take on an issue that he acknowledges was often overlooked during his first term. He also was setting up a likely confrontation with congressional Republicans who have opposed legislative efforts to curb global warming.


Democratic Sen. Barbara Boxer, chairwoman of the Senate Environment and Public Works Committee, called Obama’s comments on climate change “exactly right.”


Andrew Hoffman, director of the Erb Institute for Global Sustainable Enterprise at the University of Michigan, said Obama’s focus on climate showed political backbone.


“He finally had the courage to acknowledge the words ‘climate change,’” Hoffman said, adding that Obama and other administration officials have frequently used words such as green jobs or clean energy to describe energy policy, instead of the more politically charged term climate change.


“So I find it very interesting that in this second term he’s just coming right out and saying that climate change is exactly what we’re dealing with,” Hoffman said.


Obama, in his address, said some people “may still deny the overwhelming judgment of science” that global warming exists and has human causes, “but none can avoid the devastating impact of raging fires and crippling drought and more powerful storms.”


The president has pledged to boost renewable energy sources such as wind and solar power, along with more traditional energy sources such as coal, oil and natural gas.


“The path toward sustainable energy sources will be long and sometimes difficult. But America cannot resist this transition. We must lead it,” Obama said.


He said developing new energy technologies will lead to jobs and new industries. “That is how we will preserve our planet,” he said.


Environmental groups said the president’s first test on climate change could come early this year as he decides whether to approve the Keystone XL oil pipeline that will carry tar sands oil from Alberta, Canada, to Texas.


Obama blocked the pipeline last year, citing uncertainty over the project’s route through environmentally sensitive land in Nebraska. The State Department has federal jurisdiction because the $ 7 billion pipeline begins in Canada.


Republicans and many business groups say the project would help achieve energy independence for North America and create thousands of jobs.


But environmental groups say the pipeline would transport “dirty oil” and produce heat-trapping gases that contribute to global warming. They also worry about a possible spill.


“Starting with rejecting the Keystone XL pipeline, the president must make fighting global warming a central priority,” said Margie Alt, executive director of Environment America.


Alden Meyer, director of strategy and policy at the Union of Concerned Scientists, said Obama’s “clarion call to action” on climate change “leaves no doubt this will be a priority in his second term.”


After Superstorm Sandy and other extreme weather events, there has been more political momentum than ever to address climate change, Meyer said.


“With presidential leadership, that shift will continue and deepen over the next four years, and meaningful progress on climate change will become an important part of Barack Obama’s legacy as president,” he said.


Alt and other environmental leaders said they are counting on Obama to set tough limits on carbon pollution from coal-fired power plants and to continue federal investments in renewable energy sources such as wind and solar power.


Obama tried and failed in his first term to get a climate change bill through Congress. Some Democratic lawmakers and environmentalists have pushed for a tax on carbon pollution, but White House officials say they have no plan to propose one.


Scott Segal, an energy lobbyist who represents utilities and natural gas drillers, said Obama “missed the opportunity to remind listeners that climate change is an international phenomenon” that will require international solutions.


By imposing “inflexible” national policies to curb climate change, Obama could restrain the U.S. economy without delivering promised solutions, Segal said.


___


Follow Matthew Daly on Twitter: https://twitter.com/MatthewDaly


Weather News Headlines – Yahoo! News




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European shares test two-year highs, yen volatile before BOJ

LONDON (Reuters) - European shares inched towards two-year highs and German Bund futures dipped on Monday, as a political attempt to break a budget impasse in the United States revived appetite for shares and dented demand for safe-haven assets.


U.S. House Republican leaders said on Friday they would seek to pass a three-month extension of federal borrowing authority in the coming days to buy time for the Democrat-controlled Senate to pass a plan to shrink budget deficits.


European shares <.fteu3> were supported by the news <.eu>, but with no clear response from the Democrats and a thin session expected due to a market holiday in the United States, the impact on other assets such as Bunds is likely to be limited.


An early morning push by London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> was beginning to fade by mid-morning, leaving the pan-European FTSEurofirst 300 up 0.1 percent and MSCI's world index <.miwd00000pus> steady at a 20-month high. <.l><.eu/>


"There's a bit of encouragement coming out of the U.S.," said Toby Campbell-Gray, head of trading at Tavira Securities in Monaco.


He added that equity markets had remained resilient in the face of an uncertain economic outlook as many investors had stepped in to buy "on the dip" on days when shares had fallen.


Ahead of the region's first finance ministers' meeting of the year, the euro was down slightly at just over $1.33 against the dollar, while the yen firmed after touching a new low, ahead of a Bank of Japan decision expected to deliver bold monetary easing.


According to sources familiar with the Bank of Japan's thinking, the government of new Prime Minister Shinzo Abe and the central bank have agreed to set 2 percent inflation as a new target, supplanting a softer 1 percent 'goal'.


The dollar rose to as high as 90.25 yen earlier on Monday, its highest since June 2010. It later slipped 0.7 percent on the day to 89.39 yen, as traders cut short positions given the BOJ has often fallen short of market expectations.


"Investors are being mindful that the moves we have seen over the course of the last month or two are just worth locking in at least until we understand how the BOJ are really going to play in the future," said Jeremy Stretch, head of currency strategy at CIBC World Markets.


CURRENCY WAR


Japanese equities have surged in recent weeks in anticipation of a more aggressive monetary policy stance, but not everyone is happy.


The slump in the yen has prompted Russia's deputy central bank governor to warn of a new round of 'currency wars' and the medium-term risk of running ultra-loose monetary policies is likely to be a theme of the World Economic Forum in Davos, which opens on Wednesday.


With little in the way of economic data or debt issuance and U.S. markets shut for the Martin Luther King public holiday, the rest of the day was expected to be a fairly quite day for investors.


In bond markets, German Bund yields rose close to the top of this year's 30 basis points range, after Republican lawmakers' efforts to give the U.S. government leeway to pay its bills for another three months. Most other euro zone bonds were trading virtually flat.


The U.S. Treasury needs congressional authorisation to raise the current $16.4 trillion limit on U.S. debt sometime between mid-February and early March. A failure to achieve that could lead to a debt default.


"This is part of the political game, it remains to be seen whether the Democrats will accept it," KBC strategist Piet Lammens said, adding that investors' working scenario was that a solution to raise the ceiling would be eventually found anyway.


OIL OVERSUPPLY


German markets showed no reaction after the country's centre-left opposition party edged Chancellor Angela Merkel's conservatives from power in a regional election on Sunday, reviving its flagging hopes for September's national election.


Oil prices took their cues from a report in the United States at the end of last week that showed consumer sentiment at its weakest in a year as a result of the uncertainty surrounding the country's debt crisis.


Concerns about demand overshadowed supply disruption fears reinforced by the Islamist militant attack and hostage-taking at a gas plant in Algeria, a member of the Organization of Petroleum Exporting Countries.


Brent futures were down by 17 cents to $111.72 per barrel by 1030 GMT. U.S. crude shed 40 cents to $95.16 per barrel after touching a four-month high last week.


"The over-riding fundamental feeling in the market is that crude oil is over-supplied in 2013," said Tony Nunan, an oil risk manager at Mitsubishi.


Last week's data showing a pick-up in the Chinese economy helped keep growth-sensitive copper prices steady at roughly $8,058 an ounce. Gold, meanwhile, reversed Friday's losses to stand at $1,688 an ounce.


(Additional reporting by Sudip Kar-Gupta, Marious Zaharia and Anooja Debnath; Editing by Will Waterman and Giles Elgood)



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Snow woe: Winter weather causes delays, cancellations at Heathrow, other European airports






LONDON – Scores of fights have been cancelled as snow and ice blanket much of Britain.


London’s Heathrow airport says it has cancelled about 130 flights, 10 per cent of the daily total, compared to 20 per cent on Sunday.






Flights have been disrupted since Friday at Heathrow, Europe’s busiest airport, which has seen long lines and stranded passengers camping out on its terminal floors.


Heathrow says it has spent millions improving its winter resilience since the airport was virtually shut down by snow for several days in December 2010. But it says low visibility means it must leave bigger gaps between planes, triggering delays and cancellations.


Train services are also disrupted, and hundreds of schools across Britain are closed.


There are also delays and cancellations Monday at airports in Paris, Amsterdam and Frankfurt.


Weather News Headlines – Yahoo! News




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Wall Street Week Ahead: Earnings, money flows to push stocks higher

NEW YORK (Reuters) - With earnings momentum on the rise, the S&P 500 seems to have few hurdles ahead as it continues to power higher, its all-time high a not-so-distant goal.


The U.S. equity benchmark closed the week at a fresh five-year high on strong housing and labor market data and a string of earnings that beat lowered expectations.


Sector indexes in transportation <.djt>, banks <.bkx> and housing <.hgx> this week hit historic or multiyear highs as well.


Michael Yoshikami, chief executive at Destination Wealth Management in Walnut Creek, California, said the key earnings to watch for next week will come from cyclical companies. United Technologies reports on Wednesday while Honeywell is due to report Friday.


"Those kind of numbers will tell you the trajectory the economy is taking," Yoshikami said.


Major technology companies also report next week, but the bar for the sector has been lowered even further.


Chipmakers like Advanced Micro Devices , which is due Tuesday, are expected to underperform as PC sales shrink. AMD shares fell more than 10 percent Friday after disappointing results from its larger competitor, Intel . Still, a chipmaker sector index <.sox> posted its highest weekly close since last April.


Following a recent underperformance, an upside surprise from Apple on Wednesday could trigger a return to the stock from many investors who had abandoned ship.


Other major companies reporting next week include Google , IBM , Johnson & Johnson and DuPont on Tuesday, Microsoft and 3M on Thursday and Procter & Gamble on Friday.


CASH POURING IN, HOUSING DATA COULD HELP


Perhaps the strongest support for equities will come from the flow of cash from fixed income funds to stocks.


The recent piling into stock funds -- $11.3 billion in the past two weeks, the most since 2000 -- indicates a riskier approach to investing from retail investors looking for yield.


"From a yield perspective, a lot of stocks still yield a great deal of money and so it is very easy to see why money is pouring into the stock market," said Stephen Massocca, managing director at Wedbush Morgan in San Francisco.


"You are just not going to see people put a lot of money to work in a 10-year Treasury that yields 1.8 percent."


Housing stocks <.hgx>, already at a 5-1/2 year high, could get a further bump next week as investors eye data expected to support the market's perception that housing is the sluggish U.S. economy's bright spot.


Home resales are expected to have risen 0.6 percent in December, data is expected to show on Tuesday. Pending home sales contracts, which lead actual sales by a month or two, hit a 2-1/2 year high in November.


The new home sales report on Friday is expected to show a 2.1 percent increase.


The federal debt ceiling negotiations, a nagging worry for investors, seemed to be stuck on the back burner after House Republicans signaled they might support a short-term extension.


Equity markets, which tumbled in 2011 after the last round of talks pushed the United States close to a default, seem not to care much this time around.


The CBOE volatility index <.vix>, a gauge of market anxiety, closed Friday at its lowest since April 2007.


"I think the market is getting somewhat desensitized from political drama given, this seems to be happening over and over," said Destination Wealth Management's Yoshikami.


"It's something to keep in mind, but I don't think it's what you want to base your investing decisions on."


(Reporting by Rodrigo Campos, additional reporting by Chuck Mikolajczak and Caroline Valetkevitch; Editing by Kenneth Barry)



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Latest Inaugural Forecast: Bit Warmer Than in 2009






Consider it the first fact check of a Barack Obama campaign pledge for his second term: Will he, or Mother Nature, deliver on promised warmer Inauguration Day weather?


It’s shaping up as a close call.






In September, while campaigning in Colorado, Obama was talking to a potential voter who mentioned he had been one of the hundreds of thousands of people outdoors at Obama‘s bone-chilling first inaugural in 2009, when the noontime temperature was 28 degrees. Obama promised: “This one is going to be warmer.”


Scientifically, the president doesn’t have control of day-to-day weather. While his policies can lessen or worsen future projected global warming on a large scale, they cannot do anything about Washington‘s daily temperature on Jan. 21.


Still, it’s a promise that for a long time looked close to a sure thing. The history of local weather was on Obama’s side.


On average, the normal high is 43 degrees and the normal low is 28, but that’s just around dawn. There have been 19 traditional January inaugurations and only two were colder. Ronald Reagan‘s second in 1985 was a frigid 7 with subzero wind chills and John F. Kennedy‘s in 1961 was a snow-covered 22. Jimmy Carter’s 1977 inauguration also was 28.


Then there was the general warming trend Washington had been stuck in. The last time the nation’s capital stayed below freezing all day was Jan. 22, 2011. The city has gone a record 700-plus days since it had 2 inches or more of snow.


An Arctic cold front looks to be racing toward the mid-Atlantic, so it will be cooler than normal on Monday, but probably not cooler than 2009, said Nikole Listemaa, a senior forecaster at the National Weather Service office in Sterling, Va., that oversees forecasts for the capital area.


Look for highs around 40 degrees with noon temperatures in the mid- to upper 30s, Listemaa said Saturday. That would keep Obama’s pledge.


There’s also a 30 percent chance of light snow showers for Monday. But the Arctic cold front won’t arrive until Monday night into Tuesday, Listemaa added.


Extreme cold on Inauguration Day, folklore says, can be a killer.


In 1841, newly elected president William Henry Harrison stood outside without a coat or hat as he spoke for an hour and 40 minutes. He caught a cold that day and it became pneumonia and he died one month after being sworn in.


Twelve years later, outgoing first lady Abigail Fillmore got sick from sitting outside on a cold wet platform as Franklin Pierce was inaugurated and she died of pneumonia at the end of the month. Doctors now know that pneumonia is caused by germs, but prolonged exposure to extreme cold weather may hurt the airways and make someone more susceptible to getting sick.


There’s one thing Washington‘s history shows. Bad weather generally creates bad traffic jams.


Kennedy found that out in his 1961 inauguration when 8 inches of snow fell overnight and crippled the city for what at that time was Washington‘s worst traffic jam. Thousands of cars were abandoned in the snow.


———


Seth Borenstein can be followed at http://twitter.com/borenbears


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Wall Street Week Ahead: Earnings, money flows to push stocks higher

NEW YORK (Reuters) - With earnings momentum on the rise, the S&P 500 seems to have few hurdles ahead as it continues to power higher, its all-time high a not-so-distant goal.


The U.S. equity benchmark closed the week at a fresh five-year high on strong housing and labor market data and a string of earnings that beat lowered expectations.


Sector indexes in transportation <.djt>, banks <.bkx> and housing <.hgx> this week hit historic or multiyear highs as well.


Michael Yoshikami, chief executive at Destination Wealth Management in Walnut Creek, California, said the key earnings to watch for next week will come from cyclical companies. United Technologies reports on Wednesday while Honeywell is due to report Friday.


"Those kind of numbers will tell you the trajectory the economy is taking," Yoshikami said.


Major technology companies also report next week, but the bar for the sector has been lowered even further.


Chipmakers like Advanced Micro Devices , which is due Tuesday, are expected to underperform as PC sales shrink. AMD shares fell more than 10 percent Friday after disappointing results from its larger competitor, Intel . Still, a chipmaker sector index <.sox> posted its highest weekly close since last April.


Following a recent underperformance, an upside surprise from Apple on Wednesday could trigger a return to the stock from many investors who had abandoned ship.


Other major companies reporting next week include Google , IBM , Johnson & Johnson and DuPont on Tuesday, Microsoft and 3M on Thursday and Procter & Gamble on Friday.


CASH POURING IN, HOUSING DATA COULD HELP


Perhaps the strongest support for equities will come from the flow of cash from fixed income funds to stocks.


The recent piling into stock funds -- $11.3 billion in the past two weeks, the most since 2000 -- indicates a riskier approach to investing from retail investors looking for yield.


"From a yield perspective, a lot of stocks still yield a great deal of money and so it is very easy to see why money is pouring into the stock market," said Stephen Massocca, managing director at Wedbush Morgan in San Francisco.


"You are just not going to see people put a lot of money to work in a 10-year Treasury that yields 1.8 percent."


Housing stocks <.hgx>, already at a 5-1/2 year high, could get a further bump next week as investors eye data expected to support the market's perception that housing is the sluggish U.S. economy's bright spot.


Home resales are expected to have risen 0.6 percent in December, data is expected to show on Tuesday. Pending home sales contracts, which lead actual sales by a month or two, hit a 2-1/2 year high in November.


The new home sales report on Friday is expected to show a 2.1 percent increase.


The federal debt ceiling negotiations, a nagging worry for investors, seemed to be stuck on the back burner after House Republicans signaled they might support a short-term extension.


Equity markets, which tumbled in 2011 after the last round of talks pushed the United States close to a default, seem not to care much this time around.


The CBOE volatility index <.vix>, a gauge of market anxiety, closed Friday at its lowest since April 2007.


"I think the market is getting somewhat desensitized from political drama given, this seems to be happening over and over," said Destination Wealth Management's Yoshikami.


"It's something to keep in mind, but I don't think it's what you want to base your investing decisions on."


(Reporting by Rodrigo Campos, additional reporting by Chuck Mikolajczak and Caroline Valetkevitch; Editing by Kenneth Barry)



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‘Planetary Parks’ Could Protect Space Wilderness






It’s a wilderness out there in outer space. And as robotic surrogates set the stage for human footprints on Mars and other planetary bodies, just how much respect for other worlds should we have?


One suggested response would establish planetary parks for the solar system, an answer that ties together space science and exploration, ethics, law, policy, diplomacy and communications.






The parks would be organized under a single management system, with clear regulations for protection and use. But just what are the benefits of establishing a park system on target planets and moons before starting an intense program of exploration, and exploitation, of bodies in our solar system?


Planetary protection


A system of planetary parks fits with the ideas of such groups as the Committee on Space Research, advocates of the proposal note. COSPAR’s long list of agenda items includes an active discussion of planetary protection.


COSPAR’s objectives are to promote, on an international level, scientific research in space, with emphasis on the exchange of results, information and opinions. The organization also aims to provide a forum, open to all scientists, for the discussion of problems that may affect scientific space research.


Indeed, participants broached the planetary parks idea in June 2010 during COSPAR’s Workshop on Ethical Considerations for Planetary Protection in Space Exploration, held at Princeton University.


Why now?


“I think the concept is a useful one, and as we know more about planets like Mars, there is even more reason to think about developing planetary parks as we have the information to define where they might go,” said Charles Cockell, a professor of astrobiology at the University of Edinburgh in Scotland, and a leading proponent of the notion.


A network of parks on Mars would aim to preserve different regions on the Red Planet because of the variety of environments it contains.


Mars is home to deserts, extinct shield volcanoes, canyons and polar ice caps. By preserving representative portions of these features, a diversity of planetary parks with different features of outstanding beauty and intrinsic, natural worth could be established. The parks would also allow for maximum preservation of scientific heritage, both geologically and — perhaps — biologically. [6 Most Likely Places for Alien Life in the Solar System]


Red Planet rules


Space preservationists could apply such a system elsewhere, including the moon, and on asteroids and satellites of the giant planets. But, specifically for Martian parks, the following rules might apply:


  • No spacecraft or vehicle parts to be left within the park

  • No landing of unmanned spacecraft within the park

  • No waste to be left within the park

  • Access only on foot or via surface vehicle along predefined routes, or by landing in a rocket-powered vehicle in predefined landing areas

  • All suits, vehicles and other machines used in the park to be sterilized on their external surfaces to prevent microbial shedding

As for those dismissive of the idea, Cockell told SPACE.com that he thinks such reactions occur primarily because there isn’t anyone on Mars or anywhere else beyond Earth orbit at the moment — so why would you want to set up parks?  


Partly scientific, partly ethical


A few reasons explain why parks are a good idea, even without any people on Mars, advocates say.


“I think the reasons are two-fold. It is partly scientific and partly ethical,” Cockell said, pointing out:


  • One scientific argument is that it’s useful to keep areas of other planetary bodies free of human activity, to maintain pristine conditions that can be used to answer scientific questions. This may turn out to be essential if researchers discover life elsewhere. It’s also consistent with existing COSPAR planetary-protection policies that seek to prevent harmful contamination of other planetary bodies in order to preserve their scientific potential.

  • One ethical argument is that it says something about our species that we think about our actions elsewhere and attempt to mitigate our impact prior to establishing a permanent presence beyond the Earth. We might want to preserve some places in pristine condition for future generations. We may also want to protect unknown benefits that could potentially be gained from places in space that human activity has not altered.

Expansion of private enterprise


“I think now is the time to do this because we are entering into a new era of both government and private exploration, which promises the possibility of many new organizations developing a spacefaring capability,” Cockell said. “It would seem then that now is a good time to think about these questions afresh.”


Cockell said that the idea is not to restrict space exploration, but rather to ensure that it is done in a thoughtful and far-sighted manner.


“By establishing parks, we might better be able to define those areas that should be left free of regulations and free for commercial development,” Cockell said. “So they can be used as an impetus to help us think about places that should be left to ensure the unfettered expansion of private enterprise into space, as well as places we might want to turn into our first planetary parks.”


Potential-use conflicts


Another leading thinker in this area is Gerda Horneck, at the Institute of Aerospace Medicine at the German Aerospace Center (DLR) in Cologne, Germany. While not expressing an official view of DLR, she sees the initiative as analogous to national park systems right here on Earth.


“A planetary park system could extend the reasons for practical protection policies beyond the utilitarian protection of scientific resources emphasized by planetary protection … into other utilitarian and intrinsic value arguments,” Horneck told SPACE.com.


She added that such planetary park systems could still allow for the development of non-park areas by commercial enterprises, while incorporating regional protection for other objectives: scientific interest and use, preservation of historic value or natural beauty, or preservation for future generations.


“Thus, a strategy of planetary parks for the solar system could help solve future potential-use conflicts, incorporate both utilitarian and intrinsic-value arguments and be organized under a single management system, with clear regulations for protection and use,” Horneck said.


Such an approach would also address considerations about moral and legal definitions of wilderness on other planetary bodies, Horneck added, “and would allow us to express a respect for other worlds.”


Leonard David has been reporting on the space industry for more than five decades. He is former director of research for the National Commission on Space and a past editor-in-chief of the National Space Society’s Ad Astra and Space World magazines. He has written for SPACE.com since 1999.


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Stock futures dip as Intel offsets China data; earnings in focus


NEW YORK (Reuters) - Stock index futures were slightly lower on Friday after a disappointing earnings outlook from Intel offset news of better-than-expected economic growth in China.


Shares of Intel Corp slumped 4.9 percent at $21.57 in premarket trading after the tech company forecast quarterly revenue that missed expectations. A sharp increase in capital spending plans for the year also concerned analysts.


China's economy grew at a modestly faster-than-expected 7.9 percent in the fourth quarter of last year, the latest sign the world's second-biggest economy was pulling out of a post-global financial crisis slowdown which saw it grow last year at its weakest pace since 1999.


Investors have focused on earnings this week and S&P 500 company earnings are expected to have risen 2.3 percent in the fourth quarter, Thomson Reuters data showed. Expectations for the quarter have dropped considerably since October, when a 9.9 percent gain was estimated.


S&P 500 futures fell 0.5 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures were down 3 points, and Nasdaq 100 futures lost 11 points.


General Electric reported a rise in earnings for the fourth-quarter, pushing its shares up 2.5 percent at $21.83.


Stronger-than-expected economic data helped send the S&P 500 to its highest level in five years on Thursday. The index is now just 5.6 percent from a record closing peak of 1,565.15.


AT&T warned after Thursday's closing bell that it will take a fourth-quarter charge of about $10 billion due to bigger-than-expected pension obligations. Shares of the telephone company fell 1.2 percent to $32.80 in premarket trading Friday.


On the economic front, a report on consumer sentiment in early January will be released at 9:55 am ET (1455 GMT).


(Reporting by Leah Schnurr; Editing by Bernadette Baum)



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NASA Beams Mona Lisa to Moon with Laser






Call it the ultimate in high art: Using a well-timed laser, NASA scientists have beamed a picture of Leonardo da Vinci’s masterpiece, the Mona Lisa, to a powerful spacecraft orbiting the moon, marking a first in laser communication.


The laser signal, fired from an installation in Maryland, beamed the Mona Lisa to the moon to be received 240,000 miles (384,400 km) away by NASA’s Lunar Reconnaissance Orbiter, which has been orbiting the moon since 2009. The Mona Lisa transmission, NASA scientists said, is a major advance in laser communication for interplanetary spacecraft.






“This is the first time anyone has achieved one-way laser communication at planetary distances,” David Smith, a researcher working with the LRO’s Lunar Orbiter Laser Altimeter — which received the Mona Lisa message — said in a statement. “In the near future, this type of simple laser communication might serve as a backup for the radio communication that satellites use. In the more distance future, it may allow communication at higher data rates than present radio links can provide.”


The LRO spacecraft was the prime choice to test out the novel communication method because the spacecraft was already equipped with a laser receiver. While most spacecraft exploring the solar system today are tracked using radio signals, NASA is tracking LRO via lasers as well.


But the timing had to be just right.


NASA used its Next Generation Satellite Laser Ranging station at the Goddard Space Flight Center in Greenbelt, Md., to send the Mona Lisa signal to LRO. The team divided the famous da Vinci painting into sections measuring 150 by 200 pixels and then transmitted them via the pulsing of the laser to the orbiter at a data rate of about 300 bits per second.


Once the lunar orbiter received the image, it reconstructed the photo, corrected for distortions created as the laser signal zipped through Earth’s atmosphere, and then sent the image back to Earth using its normal form of communication: radio waves.


“This pathfinding achievement sets the stage for the Lunar Laser Communications Demonstration,” Richard Vondrak, another researcher with the Lunar Reconnaissance Orbiter said, “a high data rate laser-communication-demonstrations that will be a central feature of NASA’s next moon mission, the Lunar Atmosphere and Dust environment Explorer.”


The Lunar Atmosphere and Dust Environment Explorer is slated to launch toward the moon later this year and will focus on mapping the lunar atmosphere and environment.   


Follow Miriam Kramer on Twitter @mirikramer or SPACE.com @Spacedotcom. We’re also on Facebook & Google+


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