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

‘Star Trek’ Beams Into Oscar Night






Star Trek” fans got quite a treat last night during the Academy Awards last night (Feb. 24).


Actors who portray major characters from the film and television versions of the iconic science fiction series made cameo appearances during the three-hour-long ceremony celebrating the best movies of 2012.






William Shatner, the actor that played Starship Enterprise captain James T. Kirk in original series helped open the awards show with host, Seth McFarlane.


“I’ve come back in time from the 23rd century to stop you from destroying the Academy Awards,” joked Shatner to McFarlane.


Actors Chris Pine and Zoe Saldana also had a part to play in the festivities. Pine, who plays Kirk in 2009′s “Star Trek” and its sequel “Star Trek Into Darkness “ being released later this year, and Saldana, who plays the Enterprise’s communications officer Uhura, recapped an earlier event they co-hosted on Feb. 10 called the “Sci-Tech Oscars.”


The smaller ceremony is designed to showcase the technical achievements of designers and technicians on movie sets.


The newest movie in the Star Trek franchise, “Star Trek Into Darkness,” is set to be released on May 17.


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


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 This material may not be published, broadcast, rewritten or redistributed.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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Strong data lifts Wall Street, trumps sequester fears

NEW YORK (Reuters) - Stocks edged higher on Friday as strong economic figures more than offset growth concerns out of China and Europe and as investors shrugged off expected across-the-board U.S. goverment spending cuts.


Stocks opened sharply lower as Asian factories slowed and European output fell, but most of the losses disappeared after a report showed U.S. manufacturing activity expanded last month at its fastest clip in 20 months.


U.S. consumer confidence also rose in February as Americans turned more optimistic about the job market.


With government budget cuts set to begin on Friday, President Barack Obama blamed Republicans for failure to reach a compromise to avert the cuts, known as sequester. Investors, who have had plenty of time to prepare, appeared not too worried about the immediate impact.


"Despite the headlines, the drama and the finger pointing, the U.S. economy can still expand and as long as you see expansion, (equity) markets can go higher," said Quincy Krosby, market strategist at Prudential Financial in Newark, New Jersey.


Krosby said the market was also looking ahead to next week's government payrolls report. A stronger jobs market points to stronger consumer spending, an important component for economic growth. Separately, a government report on Friday said consumer spending rose in January as Americans spent more on services.


The Dow Jones industrial average <.dji> rose 38.09 points or 0.27 percent, to 14,092.58, the S&P 500 <.spx> gained 3.4 points or 0.22 percent, to 1,518.08 and the Nasdaq Composite <.ixic> added 7.68 points or 0.24 percent, to 3,167.87.


For the week so far, the Dow is up 0.7 percent while the Nasdaq and S&P are up 0.2 percent.


Equities continue to attract investors in an environment of low interest rates due to an accommodative monetary policy. The Dow is less than 1 percent away from its all-time intraday high of 14,198.10. Declines have been shallow and short-lived, with investors jumping in to buy on dips.


Intuitive Surgical jumped 8.3 percent to $552.18 after Cantor Fitzgerald analyst Jeremy Feffer upgraded the stock, saying the more than 11 percent slide in the stock on Thursday was a gross overreaction to a news report.


Groupon Inc surged 9 percent to $4.94 a day after the online coupon company fired its chief executive officer in the wake of weak quarterly results.


Gap Inc rose 2.7 percent to $33.81 after reporting fourth-quarter earnings that beat expectations and boosting its dividend by 20 percent, while Salesforce.com Inc posted sales that beat forecasts, sending shares up 7.2 percent to $181.41.


Chesapeake Energy Corp fell 1.7 percent to $19.81 after the U.S. Securities and Exchange Commission escalated its investigation into the company and its Chief Executive Aubrey McClendon for a controversial perk that granted him a share in each of the natural gas producer's wells.


(Reporting by Rodrigo Campos; Editing by Kenneth Barry)



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‘Star Trek’ Beams Into Oscar Night






Star Trek” fans got quite a treat last night during the Academy Awards last night (Feb. 24).


Actors who portray major characters from the film and television versions of the iconic science fiction series made cameo appearances during the three-hour-long ceremony celebrating the best movies of 2012.






William Shatner, the actor that played Starship Enterprise captain James T. Kirk in original series helped open the awards show with host, Seth McFarlane.


“I’ve come back in time from the 23rd century to stop you from destroying the Academy Awards,” joked Shatner to McFarlane.


Actors Chris Pine and Zoe Saldana also had a part to play in the festivities. Pine, who plays Kirk in 2009′s “Star Trek” and its sequel “Star Trek Into Darkness “ being released later this year, and Saldana, who plays the Enterprise’s communications officer Uhura, recapped an earlier event they co-hosted on Feb. 10 called the “Sci-Tech Oscars.”


The smaller ceremony is designed to showcase the technical achievements of designers and technicians on movie sets.


The newest movie in the Star Trek franchise, “Star Trek Into Darkness,” is set to be released on May 17.


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


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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US economy grew at 0.1 percent rate in 4th quarter


WASHINGTON (AP) — The U.S. economy grew at a 0.1 percent annual rate from October through December, the weakest performance in nearly two years. But economists believe a steady housing rebound, stronger hiring and solid spending by consumers and businesses are pushing economic growth higher in the current quarter.


The Commerce Department's second estimate of fourth-quarter growth was only slightly better than its initial estimate that the economy shrank at a rate of 0.1 percent. And it was well below the 3.1 percent growth rate reported for the July-September quarter.


The revision to the gross domestic product was due to higher exports and more business investment. GDP is the broadest measure of the economy's output.


Many economists say temporary factors that held back growth in the fourth quarter are probably fading and growth is likely picking up in the January-March quarter.


Paul Ashworth, chief U.S. economist at Capital Economics, predicts growth could be as high as 2 percent in the current quarter despite higher Social Security taxes, which have reduced take-home pay for most Americans. Alan Levenson, chief economist for T. Rowe Price, said growth could be as high as 2.5 percent.


Ashworth noted that a sharp decline in defense spending and slower business restocking subtracted 2.9 percentage points from growth in the fourth quarter. At the same time, consumer spending and business investment — two key drivers of growth — accelerated at the end of last year.


"We still believe that the fourth-quarter GDP figures were a lot better than the headline stagnation suggests," said Ashworth.


The economy could continue to struggle if policymakers in Washington cannot reach agreements over the budget his month, including billions of dollars in spending cuts that are set to begin on Friday. And a spike in gas prices and higher taxes could hold back consumer spending.


Still, a raft of recent reports suggests that many aspects of the economy are improving.


The Labor Department said that the number of Americans seeking unemployment benefits fell 22,000 last week to a seasonally adjusted 344,000. The steep decline comes as hiring has strengthened, providing more income to consumers.


Employers have added an average of 200,000 jobs per month in the past three months. That's up from an average of 150,000 in the previous three months.


More jobs and ultra-low mortgage rates are helping the once-battered housing market recover. New-home sales jumped 16 percent to their highest level in 4 ½ in January.


At the same time, the number of new homes available for sale remains near record lows. That means builders will likely have to start construction on more homes and apartments to keep up with demand. That should create more construction jobs.


Home prices also rose in December compared with the same month a year ago by the most in more than six years. Rising home values also contribute to the housing recovery and the broader economy. They encourage more people to buy before prices rise further. Higher prices also build homeowners' wealth, which can spur more spending and economic growth.


Businesses and consumers are also showing greater confidence despite automatic spending cuts scheduled to take effect on Friday. A measure of consumer confidence rebounded in February after a sharp fall the previous month that likely was a result of the tax increase.


Companies, meanwhile, sharply increased orders in January for a category of long-lasting manufactured goods that reflect their investment plans. That suggests they are confident about their business prospects.


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‘Star Trek’ Beams Into Oscar Night






Star Trek” fans got quite a treat last night during the Academy Awards last night (Feb. 24).


Actors who portray major characters from the film and television versions of the iconic science fiction series made cameo appearances during the three-hour-long ceremony celebrating the best movies of 2012.






William Shatner, the actor that played Starship Enterprise captain James T. Kirk in original series helped open the awards show with host, Seth McFarlane.


“I’ve come back in time from the 23rd century to stop you from destroying the Academy Awards,” joked Shatner to McFarlane.


Actors Chris Pine and Zoe Saldana also had a part to play in the festivities. Pine, who plays Kirk in 2009′s “Star Trek” and its sequel “Star Trek Into Darkness “ being released later this year, and Saldana, who plays the Enterprise’s communications officer Uhura, recapped an earlier event they co-hosted on Feb. 10 called the “Sci-Tech Oscars.”


The smaller ceremony is designed to showcase the technical achievements of designers and technicians on movie sets.


The newest movie in the Star Trek franchise, “Star Trek Into Darkness,” is set to be released on May 17.


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


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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S&P 500 rises more than 1 percent

NEW YORK (Reuters) - Stocks rose 1 percent on Wednesday as Federal Reserve Chairman Ben Bernanke remained steadfast in his support of the Fed's stimulus policy and data pointed to economic improvement.


In his second day before a congressional committee, Bernanke repeated testimony in which he defended the Fed's policy of buying bonds to keep interest rates low in order to promote growth and bring down the unemployment rate.


Adding to the positive tone was economic data which showed a gauge of planned U.S. business spending in January recorded its largest increase in just over a year and contracts to buy new homes neared a three-year high last month.


Bernanke's remarks supporting the Fed's stance before a Senate panel on Tuesday helped the market rebound from its worst decline since November. The S&P 500 <.spx> is now back above 1,500, a closely watched level that has been technical support until recently.


"By and large you can track the turn in the market yesterday and today with Bernanke. He is just adamant," said Keith Bliss, senior vice-president at Cuttone & Co in New York.


"It doesn't matter what the Fed minutes tell you, he is going to keep refilling the punch bowl until we get unemployment down below 6 percent."


The S&P 500 had climbed 6 percent for the year and came within reach of all-time highs before the minutes from the Fed's January meeting were released last Wednesday and raised questions about whether the Fed may slow or halt its economy-stimulating measures soon.


An Italian bond auction that drew solid demand reassured investors after this week's inconclusive elections in Italy, which rekindled fears of a new euro zone debt crisis.


The Dow Jones industrial average <.dji> gained 140.15 points, or 1.01 percent, to 14,040.28. The Standard & Poor's 500 Index <.spx> climbed 16.80 points, or 1.12 percent, to 1,513.74. The Nasdaq Composite Index <.ixic> advanced 38.18 points, or 1.22 percent, to 3,167.82.


In earnings news, discount retailer Target Corp appeared poised for a solid showing in the first quarter and forecast a higher profit for the full year after a weak performance in the key holiday season. The stock dipped 1 percent to $63.44.


But Dollar Tree Inc jumped 12.5 percent to $46.21 after reporting a higher quarterly profit as shoppers spent more and the chain controlled costs.


TJX Cos Inc advanced 1.7 percent to $44.40 after the owner of the low-price T.J. Maxx and Marshalls chains posted higher fourth-quarter results and said it plans to expand its chains abroad and domestically this year and introduce e-commerce.


The S&P retail index <.spxrt> climbed 1.6 percent.


With 93 percent of the S&P 500 companies having reported results so far, 69.5 percent beat profit expectations, compared with a 62 percent average since 1994 and 65 percent over the past four quarters, according to Thomson Reuters data.


Fourth-quarter earnings for S&P 500 companies are estimated to have risen 6.2 percent, according to the data, above a 1.9 percent forecast at the start of the earnings season.


(Reporting by Chuck Mikolajczak; Editing by Kenneth Barry)



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‘Star Trek’ Beams Into Oscar Night






Star Trek” fans got quite a treat last night during the Academy Awards last night (Feb. 24).


Actors who portray major characters from the film and television versions of the iconic science fiction series made cameo appearances during the three-hour-long ceremony celebrating the best movies of 2012.






William Shatner, the actor that played Starship Enterprise captain James T. Kirk in original series helped open the awards show with host, Seth McFarlane.


“I’ve come back in time from the 23rd century to stop you from destroying the Academy Awards,” joked Shatner to McFarlane.


Actors Chris Pine and Zoe Saldana also had a part to play in the festivities. Pine, who plays Kirk in 2009′s “Star Trek” and its sequel “Star Trek Into Darkness “ being released later this year, and Saldana, who plays the Enterprise’s communications officer Uhura, recapped an earlier event they co-hosted on Feb. 10 called the “Sci-Tech Oscars.”


The smaller ceremony is designed to showcase the technical achievements of designers and technicians on movie sets.


The newest movie in the Star Trek franchise, “Star Trek Into Darkness,” is set to be released on May 17.


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


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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Dow, S&P rise as Bernanke defends policy, warns on cuts

NEW YORK (Reuters) - Stocks mostly rose on Tuesday after Federal Reserve Chairman Ben Bernanke defended the Fed's bond-buying stimulus before Congress, but warned forced spending cuts that could be triggered this week represented a headwind for the economy.


Gains in homebuilders and other consumer stocks, following strong economic data, kept the S&P 500 nearly unchanged, while a 5 percent jump in Home Depot lifted the Dow industrials. The PHLX housing sector index <.hgx> rose 2 percent.


Stocks hit session highs shortly after Bernanke, in testimony before the Senate Banking Committee, strongly defended the Fed's bond-buying stimulus program that has been essential for the stock market's recovery.


However, he also urged lawmakers to avoid sharp spending cuts set to go into effect on Friday, which he warned could combine with earlier tax increases to create a "significant headwind" for the economic recovery.


"He really came down foursquare on the bearish camp with respect to the potential economic impact of these cuts. That's a surprise, and that's probably why the market's a little nervous right now," said Michael Jones, chief investment officer of Riverfront Investment Group in Richmond, Virginia.


The Dow Jones industrial average <.dji> rose 74.64 points or 0.54 percent to 13,858.81. The S&P 500 <.spx> gained 1.78 points or 0.12 percent to 1,489.63. The Nasdaq Composite <.ixic> dropped 5.84 points or 0.19 percent to 3,110.41.


The S&P 500 failed to move above 1,500, a closely watched level that was technical support until recently, but could now become a hurdle.


Cable network AMC Networks was the Nasdaq's biggest percentage decliner after the home of popular shows such as "The Walking Dead" and "Mad Men" reported a quarterly profit way below analysts' estimates. Its stock fell 7.4 percent to $53.77.


Equities continued to be weighed by concerns about a stalemate in Italy after a general election failed to give any party a parliamentary majority, posing the threat of prolonged instability and European financial crisis.


The FTSEurofirst-300 index of top European shares <.fteu3> unofficially closed down 1.3 percent at 1,150.58. The benchmark Italian index <.ftmib> tumbled 4.9 percent.


Dow component Home Depot Inc was the top gainer in both the Dow and the S&P 500 after the world's largest home improvement chain reported adjusted earnings and sales that beat expectations. Home Depot's shares jumped 5.5 percent to $67.46.


Macy's Inc shares climbed 2.8 percent to $39.60 after the department-store chain stated it expects full-year earnings to be above analysts' forecasts because of strong holiday sales.


Economic reports that showed strength in housing and consumer confidence also supported stocks.


U.S. home prices rose more than expected in December, according to the S&P/Case-Shiller index. Consumer confidence rebounded in February, jumping more than expected, and new-home sales rose to their highest in 4-1/2 years.


(Reporting by Rodrigo Campos; Additional reporting by Sam Forgione; Editing by Jan Paschal)



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‘Star Trek’ Beams Into Oscar Night






Star Trek” fans got quite a treat last night during the Academy Awards last night (Feb. 24).


Actors who portray major characters from the film and television versions of the iconic science fiction series made cameo appearances during the three-hour-long ceremony celebrating the best movies of 2012.






William Shatner, the actor that played Starship Enterprise captain James T. Kirk in original series helped open the awards show with host, Seth McFarlane.


“I’ve come back in time from the 23rd century to stop you from destroying the Academy Awards,” joked Shatner to McFarlane.


Actors Chris Pine and Zoe Saldana also had a part to play in the festivities. Pine, who plays Kirk in 2009′s “Star Trek” and its sequel “Star Trek Into Darkness “ being released later this year, and Saldana, who plays the Enterprise’s communications officer Uhura, recapped an earlier event they co-hosted on Feb. 10 called the “Sci-Tech Oscars.”


The smaller ceremony is designed to showcase the technical achievements of designers and technicians on movie sets.


The newest movie in the Star Trek franchise, “Star Trek Into Darkness,” is set to be released on May 17.


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


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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Dow, S&P slip after uncertain Italian election

NEW YORK (Reuters) - U.S. stocks mostly fell on Monday on fears that a divided parliament in Italy would get in the way of the country's reforms and hamper the euro zone's stability.


Election projections showed the center-right coalition led by former prime minister Silvio Berlusconi was leading in the race for the Italian Senate, contradicting initial exit polls and raising the specter of deadlock in parliament.


Earlier polls pointing to a center-left victory lifted stocks in Milan and other European markets on investors' belief that they would continue the path to pay down Italian debt, said Art Hogan, managing director of Lazard Capital Markets in New York.


"What we don't want to hear is a renewed fear about a euro- zone fracture," he said.


Last week, the benchmark S&P 500 closed below its 14-day moving average on Wednesday for the first time this year. At midday, the S&P 500 was trading just below that level, now near 1,515.


The index was, nonetheless, still near highs not seen in five years, as bets on a strong U.S. economy have given equities support. The S&P 500's slight fall last week was the first weekly drop after a seven-week string of gains.


Banks and other financial stocks led Monday's decline on concern about the sector's exposure to Italy's massive debt. The KBW Bank Index <.bkx> fell 0.7 percent.


The Dow Jones industrial average <.dji> slipped 18.58 points or 0.13 percent, to 13,981.99. The Standard & Poor's 500 <.spx> shed 2.30 points or 0.15 percent, to 1,513.30. But the Nasdaq Composite <.ixic> rose 3.03 points or 0.10 percent, to 3,164.85.


Barnes & Noble Inc shares climbed 11.9 percent to $15.12 after the bookseller's chairman offered to buy its declining retail business.


The Nasdaq received support from Amgen Inc , up 4.2 percent at $90.47, after a rival issued a voluntary recall of its only drug, an anemia treatment that competes with Amgen's top-selling red blood cell booster, Epogen.


The FTSEurofirst-300 index of top European shares <.fteu3> unofficially closed up 0.1 percent and Italy's main FTSE MIB <.ftmib> ended up 0.7 percent after earlier gaining near 4 percent.


U.S. equities will face a test with the looming debate over the so-called sequestration, U.S. government budget cuts that will take effect starting on Friday if lawmakers fail to reach an agreement over spending and taxes. The White House issued warnings about the harm the cuts are likely to inflict on the economy if enacted.


With 83 percent of the S&P 500 companies having reported results so far, 69 percent beat profit expectations, compared with a 62 percent average since 1994 and 65 percent over the past four quarters, according to Thomson Reuters data.


Fourth-quarter earnings for S&P 500 companies are estimated to have risen 6 percent, according to the data, above a 1.9 percent forecast at the start of the earnings season.


(Editing by Kenneth Barry and Jan Paschal)



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‘Vulcan’ and ‘Cerberus’ Win Pluto Moon Naming Poll






The votes are in, and it looks like ‘Vulcan‘ could be the new name for one of Pluto‘s smallest moons.


After weeks of online ballot casting by people around the world, the poll asking the public to name two of Pluto’s moons — currently called P4 and P5 — ended today (Feb. 25).






As of 12 p.m. (1700 GMT), the polls closed with a total of 450,324 total votes cast since Feb. 11 with ‘Vulcan,’ a Pluto moon name proposed by Star Trek’s William Shatner, is the clear winner. Vulcan nabbed roughly 160,000 votes, with Cerberus in clear second place with nearly 100,000 votes.


Vulcan was a late addition to the Pluto moon name contenders, and pulled into the lead after Shatner, building on his Capt. James T. Kirk persona, plugged the name on Twitter. Vulcan, the home planet of Kirk’s alien-human hybrid first officer Spock, is not just a fictional world in the Star Trek universe. It is also the name of the god of fire in Roman mythology, and officials at SETI added the sci-fi favorite to the ballot for that reason.


“Vulcan is the Roman god of lava and smoke, and the nephew of Pluto. (Any connection to the Star Trek TV series is purely coincidental, although we can be sure that Gene Roddenberry read the classics.),” wrote SETI scientist Mark Showalter in a blog officially adding the name to the list on Feb. 12. “Thanks to William Shatner for the suggestion!”


These votes don’t necessarily mean that P4 and P5 will end up being called Vulcan and Cerberus, however. SETI is going to recommend the winning names to the International Astronomical Union — the organization responsible for naming the moons. The IAU will take the results into consideration, but ultimately they have final say over what the tiny moons are called.


Pluto has five moons  that astronomers currently know of. Scientists first caught sight of Pluto’s largest moon Charon in 1978, but it was not until 2005 that astronomers discovered two other moons (Nix and Hydra) using the Hubble Space Telescope.


The moon P5 was discovered in 2012, also using the Hubble telescope  . The moon P4 was discovered in 2011. Both P4 and P5 are only 15 to 20 miles (20 to 30 km) in diameter.


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


Copyright 2013 SPACE.com, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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Investors face another Washington deadline

NEW YORK (Reuters) - Investors face another Washington-imposed deadline on government spending cuts next week, but it's not generating the same level of fear as two months ago when the "fiscal cliff" loomed large.


Investors in sectors most likely to be affected by the cuts, like defense, seem untroubled that the budget talks could send stocks tumbling.


Talks on the U.S. budget crisis began again this week leading up to the March 1 deadline for the so-called sequestration when $85 billion in automatic federal spending cuts are scheduled to take effect.


"It's at this point a political hot button in Washington but a very low level investor concern," said Fred Dickson, chief market strategist at D.A. Davidson & Co. in Lake Oswego, Oregon. The fight pits President Barack Obama and fellow Democrats against congressional Republicans.


Stocks rallied in early January after a compromise temporarily avoided the fiscal cliff, and the Standard & Poor's 500 index <.spx> has risen 6.3 percent since the start of the year.


But the benchmark index lost steam this week, posting its first week of losses since the start of the year. Minutes on Wednesday from the last Federal Reserve meeting, which suggested the central bank may slow or stop its stimulus policy sooner than expected, provided the catalyst.


National elections in Italy on Sunday and Monday could also add to investor concern. Most investors expect a government headed by Pier Luigi Bersani to win and continue with reforms to tackle Italy's debt problems. However, a resurgence by former leader Silvio Berlusconi has raised doubts.


"Europe has been in the last six months less of a topic for the stock market, but the problems haven't gone away. This may bring back investor attention to that," said Kim Forrest, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh.


OPTIONS BULLS TARGET GAINS


The spending cuts, if they go ahead, could hit the defense industry particularly hard.


Yet in the options market, bulls were targeting gains in Lockheed Martin Corp , the Pentagon's biggest supplier.


Calls on the stock far outpaced puts, suggesting that many investors anticipate the stock to move higher. Overall options volume on the stock was 2.8 times the daily average with 17,000 calls and 3,360 puts traded, according to options analytics firm Trade Alert.


"The upside call buying in Lockheed solidifies the idea that option investors are not pricing in a lot of downside risk in most defense stocks from the likely impact of sequestration," said Jared Woodard, a founder of research and advisory firm condoroptions.com in Forest, Virginia.


The stock ended up 0.6 percent at $88.12 on Friday.


If lawmakers fail to reach an agreement on reducing the U.S. budget deficit in the next few days, a sequester would include significant cuts in defense spending. Companies such as General Dynamics Corp and Smith & Wesson Holding Corp could be affected.


General Dynamics Corp shares rose 1.2 percent to $67.32 and Smith & Wesson added 4.6 percent to $9.18 on Friday.


EYES ON GDP DATA, APPLE


The latest data on fourth-quarter U.S. gross domestic product is expected on Thursday, and some analysts predict an upward revision following trade data that showed America's deficit shrank in December to its narrowest in nearly three years.


U.S. GDP unexpectedly contracted in the fourth quarter, according to an earlier government estimate, but analysts said there was no reason for panic, given that consumer spending and business investment picked up.


Investors will be looking for any hints of changes in the Fed's policy of monetary easing when Fed Chairman Ben Bernake speaks before congressional committees on Tuesday and Wednesday.


Shares of Apple will be watched closely next week when the company's annual stockholders' meeting is held.


On Friday, a U.S. judge handed outspoken hedge fund manager David Einhorn a victory in his battle with the iPhone maker, blocking the company from moving forward with a shareholder vote on a controversial proposal to limit the company's ability to issue preferred stock.


(Additional reporting by Doris Frankel; Editing by Kenneth Barry)



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Serious Stargazing: Spot Bright Star Sirius This Week






Around this time of year, I often get lots of inquiries concerning a certain very bright star-like object shining over toward the southern part of the sky. It’s Sirius, the Dog Star, the brightest star in the night sky. 


Granted, the planet Jupiter currently shines three times brighter and appears much higher in the sky, but while Jupiter shines with a steady, silvery glow, Sirius will remind you of the famous early 19th century limerick, “Twinkle Twinkle Little Star” written by the English poet, Jane Taylor, for indeed, Sirius seems to shine “like a diamond in the sky.”  Who knows?  Maybe Taylor was inspired by gazing upon Sirius.






Not a few astronomy books suggest that you can locate Sirius by using the belt of Orion, as the belt points southeast directly toward Sirius — as if anyone needed a way to find this dazzling luminary! While it is true that Orion’s three-star belt will direct you toward Sirius, all anyone needs to do is simply cast a glance toward the southern sky during these cold winter evenings and they’ll immediately see it. It will be due south between 8:30 and 9 p.m. local time all of this week, and sets in the southwest between 1:30 and 2 a.m.


So bright, so near


Sirius is the brightest star of the constellation Canis Major, the “Greater Dog” in Latin.


According to Burnham’s Celestial Handbook, other names for it include “The Sparkling One” or “The Scorching One.” The star appears a brilliant white with a tinge of blue, but when the air is unsteady, or when the star is low to the horizon, it seems to flicker and splinter with all the colors of the rainbow. 


At a distance of just 8.7 light-years, Sirius is the fifth-nearest known star. Among the naked-eye stars, it is the nearest of all, with the sole exception of Alpha Centauri. Sirius is gradually moving closer to the solar system, so it will slightly increase in brightness over the next 60,000 years. After that time its distance will begin to recede, but it will continue to be the brightest star in the Earth’s sky for the next 210,000 years. [The Nearest Stars to Earth (Infographic)]


The Dog Star has a pup


Over thousands of years, Sirius appears to move in a wavy line across the sky. 


In 1862, Alvan G. Clark first saw Sirius B, also known as “the Pup,” the companion star responsible for the wiggle. Sirius B is only one ten-thousandth as bright as Sirius A, but by 1914, spectroscopic observations had demonstrated that its temperature was about the same. From physical laws it follows that B emits the same amount of light per unit surface area as A, and therefore to be so dim, it must be very small. 


Later calculations have shown that A has just over twice the mass of our sun, but B has nearly one solar mass. Since it is so small, B must be exceedingly dense. 


In fact, it packs 98 percent of one solar mass into a body just 2 percent of the sun’s diameter. To do that, Sirius B must have a density 90,000 times that of the sun. A teaspoon of this star material would weigh about 2 tons!


Look for Canopus


Now is also the time of the year for southerly observers to look for Canopus, in the constellation of Carina, the Keel (part of the now-defunct constellation of Argo Navis, the Ship). 


Canopus still holds its rank as second only to Sirius in apparent brightness. The two stars differ by 0.8 magnitudes, so that Canopus is about half as bright as Sirius. But the former is more than 34 times as distant from us.


And, in fact, intrinsically, the luminary in Carina outshines the one in Canis Major by about 600 times.  This week, if you are anywhere south of north latitude 37.6 degrees, you can get a glimpse of Canopus as it skims just above the southern horizon, almost directly south of Sirius around 8:30 p.m.


Joe Rao serves as an instructor and guest lecturer at New York’s Hayden Planetarium. He writes about astronomy for The New York Times and other publications, and he is also an on-camera meteorologist for News 12 Westchester, New York.


Copyright 2013 SPACE.com, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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HP lifts Wall Street, S&P on pace for first weekly loss of year

NEW YORK (Reuters) - Stocks rose on Friday, rebounding off two days of losses as Dow component Hewlett-Packard surged on strong results, but the S&P 500 was on track to end a seven-week-long streak of gains.


The S&P shed 1.9 percent over the previous two sessions, its worst two-day drop since early November, putting the index on pace for its first weekly decline of the year. The retreat was triggered when the Federal Reserve's meeting minutes for January suggested stimulus measures may be halted sooner than thought.


Still, the index is up nearly 6 percent for the year and held the 1,500 support level despite the recent declines, a sign of a positive bias in the market.


"The market is addicted to Fed stimulus and gets withdrawal shakes every time that's threatened, but now we're resuming our course and remain much more attractively valued than other asset classes," said Rex Macey, chief investment officer at Wilmington Trust in Atlanta, Georgia.


Hewlett-Packard Co jumped 9.6 percent to $18.74 as the top boost on both the Dow and S&P 500 after the PC maker's quarterly revenue and forecasts beat expectations. The company cut costs under Chief Executive Meg Whitman's turnaround plan. The S&P technology sector <.splrct> was up 0.8 percent.


The Dow Jones industrial average <.dji> was up 69.41 points, or 0.50 percent, at 13,950.03. The Standard & Poor's 500 Index <.spx> was up 7.74 points, or 0.52 percent, at 1,510.16. The Nasdaq Composite Index <.ixic> was up 18.26 points, or 0.58 percent, at 3,149.75.


For the week, the Dow is off 0.2 percent in its third straight week of slight losses, the S&P is off 0.6 percent and the Nasdaq is off 1.3 percent.


Also buoying tech stocks were gains in semiconductor companies after Marvell Technology Group Ltd forecast results this quarter that were largely above analysts' expectations. Marvell gained market share in the hard-disk drive and flash-storage businesses. The stock rose 2.5 percent to $9.71.


In addition, Texas Instruments Inc raised its dividend by a third and boosted its stock buyback program, lifting shares 5.1 percent to $34.16 while the PHLX semiconductor index <.sox> gained 1.8 percent.


"Dividends growing are another way the market's level is justified, if not especially attractive at these levels," said Macey, who manages about $20 billion in assets.


On the downside, Abercrombie & Fitch dropped 7.6 percent to $45.34 after the clothing retailer reported a drop in fourth-quarter comparable sales, even as its latest quarterly earnings topped estimates.


Insurer American International Group Inc posted fourth-quarter results that beat analysts' expectations. Shares advanced 3 percent to $38.43.


According to Thomson Reuters data through Friday morning, of 439 companies in the S&P 500 that have reported results, 70 percent have exceeded analysts' expectations, compared with a 62 percent average since 1994 and 65 percent over the past four quarters.


Fourth-quarter earnings for S&P 500 companies are estimated to have risen 6 percent, according to the data, above a 1.9 percent forecast at the start of the earnings season.


(Editing by Kenneth Barry)



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Nigerian offshore attacks surge as pirates advance






ABUJA/LONDON (Reuters) – A spike in piracy off Nigeria‘s oil-rich coast has shown gangs are willing to venture further afield and use more violent tactics, increasing the risk of doing business in Africa’s largest energy producer.


Pirates demanded a 200 million naira ransom for the release of six foreigners kidnapped on Sunday, the latest in at least five attacks in Nigerian waters this month.






Exxon Mobil and Shell officials said this week that security was a major factor in Nigeria, and it was one of the most expensive oil-producing countries to operate in.


“The recent upsurge in maritime kidnaps off the Niger Delta … has not been witnessed since 2010,” said Tom Patterson, maritime risk analyst at Control Risks.


“It is easy to underestimate the debilitating effect such a situation can have, even on larger corporations,” Patterson added.


Oil and shipping companies have to hire crisis management teams, pay huge insurance premiums and face the prospect of ransom payments, as well as brace themselves for damage to their reputations.


At the same time, pirates are becoming more ambitious.


Three crew members were kidnapped on February 7 from the British-flagged cargo ship, Esther C, around 80 miles offshore, the furthest pirates have reached in the Gulf of Guinea.


Gunmen killed a Filipino crew member when they attacked a chemical tanker three days earlier, in the first confirmed case in Nigerian waters of crew being killed on a vessel that deployed a private armed team, maritime risk experts AKE said.


OIL GANGS


The prime suspects for most attacks are Nigerian oil gangs, who already carry out industrial scale crude theft, called ‘bunkering’ in the restive onshore Niger Delta swamplands.


Nigeria’s oil minister said this week that oil theft, which can amount to 150,000 barrels per day (bpd), was the work of an international criminal syndicate. President Goodluck Jonathan has reached out to Britain for help.


Security experts also believe Nigerian security officials and politicians are complicit in oil theft and piracy.


“There are many top people in Nigeria involved in commissioning these attacks and sharing the profits,” said Michael Frodl, head of U.S. consultancy C-Level Maritime Risks.


“It’s obvious to us that they’ve been bringing in people in other nations into the game, and sharing a cut in exchange for tips for tankers and cargoes.”


Compounding the problem, there is less fuel available in Nigeria since Jonathan reduced subsidies last year, which has forced prices to rise. This has provided an added incentive for gangs to locally refine stolen oil or siphon fuel off ships they attack, experts say.


The rise in pirate attacks comes as Nigerian forces have been more stretched in the last two years due to an Islamist insurgency in the Muslim north.


“There is a sense that security resources are being focused to combat the terrorist threat in the north of the country,” said Rory Lamrock, analyst with security firm AKE.


“We’re likely to see further attacks over the coming months as local authorities are unable to effectively police the waters, especially up to 50 or 60 nautical miles off the coast.”


Energy News Headlines – Yahoo! News





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Wall Street extends losses, Nasdaq down 1 percent

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Wall Street dips after rally, energy shares weaker

NEW YORK (Reuters) - Stocks dipped on Wednesday, with energy shares falling as investors found few reasons to buy following a rally that has held major indexes near five-year highs for three weeks.


In addition, investors waited for the minutes from the Federal Open Market Committee's January meeting due at 2 p.m. (1900 GMT) for clues to the interest rate outlook.


Traders said there were unconfirmed rumors in the market that a troubled hedge fund was selling assets.


"I heard the chatter about a hedge fund liquidating things today but how big, I don't know. Certainly it sparks concern," said Michael James, senior trader at Wedbush Morgan in Los Angeles.


A jump in January of permits for future home building offered hope the housing market's recovery remains on track. A separate report showed wholesale prices rose last month for the first time in four months.


The S&P 500 has jumped about 7 percent so far this year, and is on track for its eighth straight week of gains. However, many of those weekly gains have been slight, with equities trading within a narrow range for the past few weeks, suggesting valuations may be stretched at current levels.


"The market seems very tired and listless, and investors are prone to take profits now as they wait for the music to stop," said Matt McCormick, money manager at Bahl & Gaynor in Cincinnati.


Energy companies were among the weakest, hurt by disappointing corporate results and a 2.4 percent drop in crude oil prices.


Newfield Exploration fell 5.8 percent to $25.73 while Devon Energy Corp fell 1.6 percent to $59.60. Both companies posted fourth-quarter losses, with Devon hurt as it wrote down the value of its assets by $896 million due to weak natural gas prices.


Groundbreaking to build new U.S. homes fell 8.5 percent in January but new permits for construction rose to a 4 1/2-year high while producer prices rose in January for the first time in four months.


Investors will look to the minutes from the Fed's January meeting for any indication as to how long the Fed will keep buying $85 billion in bonds each month to bolster U.S. employment. Economic data should enable the Fed to maintain its easy monetary policy.


The Dow Jones industrial average <.dji> dropped 16.03 points, or 0.11 percent, to 14,019.64. The Standard & Poor's 500 Index <.spx> dropped 5.81 points, or 0.38 percent, to 1,525.13. The Nasdaq Composite Index <.ixic> dropped 13.82 points, or 0.43 percent, to 3,199.77.


Shares of OfficeMax Inc fell 3.8 percent to $12.51 while Office Depot slumped 13 percent to $4.37 as the companies announced a $1.2 billion merger agreement. The shares had risen sharply earlier this week after a source said a deal would be announced. Rival Staples Inc fell 3.5 percent.


Toll Brothers Inc lost 4 percent to $35.43 after the largest luxury homebuilder in the United States, reported first-quarter results well below analysts' estimates.


The stock is up 9 percent so far this year, building on jump of nearly 60 percent in 2012.


"Valuations appear a bit high at these levels, and if I was in a name that had seen a huge run, I'd want to take some chips off the table," said McCormick, who helps oversee about $8.2 billion in assets.


SodaStream dropped 6.5 percent to $49.04 after the seller of home carbonated drink maker machines posted fourth-quarter earnings and provided a 2013 outlook.


According to Thomson Reuters data through Tuesday morning, of the 405 companies in the S&P 500 that have reported results, 71 percent have exceeded analysts' expectations, compared with a 62 percent average since 1994 and 65 percent over the past four quarters.


Fourth-quarter earnings for S&P 500 companies are estimated to have risen 5.7 percent, according to the data, above a 1.9 percent forecast at the start of the earnings season.


(Editing by Kenneth Barry)



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Whale Watchers Have a Close Encounter With Gray Whales






Boaters aboard a whale watching safari off the coast of California got their money’s worth when a gray whale got up close and personal.


The whale allowed the delighted adults and children on the boat to pet its skin and inside its mouth, something that could make whales just like their human admirers.






“According to the naturalists who see them every day, these gray whale calves enjoy having people touch them, even in their mouth and on their baleen,” reads the description with the video of the encounter posted on YouTube this week. “Even though these whales don’t have teeth, perhaps it is like a teething child who enjoys having his gums rubbed.”


The close encounter with the wild mammal occurred during a whale watching safari off the coast of upper Magdalena Bay piloted by Capt. Dave’s Dolphin and Whale Watching Safari, a Dana, Calif.-based whale watching company.


The company says the whales, which can grow to as long as 50 feet and weigh as much as 40 tons, approach their boats on their own seeking human contact.


“No one feeds them or does anything to entice them,” the company stated on YouTube.


Capt. Dave’s even keeps a count on its website of gray whale sightings on its daily boat trips, totaling as many as eight in one day.


The gray whale, which was removed from the endangered species list in 1994, is known as “one of the animal kingdom’s great migrators” and travels in groups called pods, according to National Geographic.


The whales have to surface to breathe, making them easy to spot as they migrate along the West Coast from their summer home in Alaskan waters to their cold season refuge in the warmer waters off the coast of Mexico.


Also Read
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M&A deals lift shares, suggest more value in market

NEW YORK (Reuters) - U.S. stocks rose on Tuesday as merger activity suggested the market could offer investors still more value even as the S&P 500 and Dow industrials hover near five-year highs.


Equities have resisted a pullback as investors use dips in stocks as buying opportunities. The S&P is up about 7 percent so far in 2013 and has climbed for the past seven weeks in its longest weekly winning streak since January 2011, though most of the weekly gains have been slim.


Office Depot Inc surged 9.4 percent to $5, pulling back from earlier highs after a person familiar with the matter said the No. 2 U.S. office supply retailer was in advanced talks to merge with smaller rival OfficeMax Inc . A deal could come as early as this week.


OfficeMax jumped 20 percent to $12.94 while larger rival Staples Inc shot up 9.4 percent to $14.17 as the best performer on the S&P 500.


More than $158 billion in deals has been announced thus far in 2013. Last week, agreements included the acquisition of H.J. Heinz Co by Berkshire Hathaway , and the sale by General Electric of its remaining stake in NBCUniversal to Comcast Corp .


"Equity investors have to be encouraged by M&A since, if the number crunchers are offering large premiums, that shows how much value is still in the market," said Mike Gibbs, co-head of the equity advisory group at Raymond James in Memphis, Tennessee.


The Dow Jones industrial average <.dji> was up 37.81 points, or 0.27 percent, at 14,019.57. The Standard & Poor's 500 Index <.spx> was up 6.84 points, or 0.45 percent, at 1,526.63. The Nasdaq Composite Index <.ixic> was up 9.39 points, or 0.29 percent, at 3,201.42.


U.S. markets were closed on Monday for the Presidents Day holiday.


Health insurance stocks tumbled, led by a 7 percent drop in Humana Inc to $72.50 after the company said the government's proposed 2014 payment rates for Medicare Advantage participants were lower than expected and would hurt its profit outlook.


UnitedHealth Group lost 1.7 percent to $56.37the biggest drag on the Dow. The Morgan Stanley healthcare payor index <.hmo> dropped 1.6 percent.


Express Scripts rose 2.4 percent to $56.87 after the pharmacy benefits manager posted fourth-quarter earnings.


Wall Street's strong start to the year for was fueled by stronger-than-expected corporate earnings, as well as a compromise by legislators in Washington that temporarily averted automatic spending cuts and tax hikes that are predicted to damage the economy.


The compromise on across-the-board spending cuts postponed the matter until March 1, at which point the cuts take effect. Ahead of the debate over the cuts, known as sequestration, further gains for stocks may be difficult to come by.


"If there's no major contention with sequestration, it looks like stocks are prepared to handle it, but until then we'll probably stay in a consolidation period marked by sideways trading with a slow rate of ascent," said Gibbs.


Economic data showed the NAHB/Wells Fargo Housing Market index unexpectedly edged down to 46 in February from 47 in the prior month as builders faced higher material costs.


According to the Thomson Reuters data through Monday morning, of the 391 companies in the S&P 500 that have reported results, 70.1 percent have exceeded analysts' expectations, compared with a 62 percent average since 1994 and 65 percent over the past four quarters.


Fourth-quarter earnings for S&P 500 companies have risen 5.6 percent, according to the data, above a 1.9 percent forecast at the start of the earnings season.


(Additional reporting by Chuck Mikolajczak; Editing by Chizu Nomiyama, Kenneth Barry and Nick Zieminski)



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Yen resumes fall after G20, U.S. holiday thins trade

LONDON (Reuters) - The yen resumed falling on Monday after Japan signaled it would push ahead with expansionist monetary policies having escaped criticism from the world's 20 biggest economies at the weekend.


Industrial metals also dipped and European shares were soft on lingering worries about the economic outlook, especially for the euro zone. While the risk of an inconclusive outcome in Italy's forthcoming election added to investor concerns.


However, activity was curtailed by the closure of markets in the United States for the Presidents' Day holiday.


The yen, which has dropped 20 percent against the dollar since mid-November, fell further after financial leaders from the G20 promised not to devalue their currencies to boost exports and avoided singling out Japan for any direct criticism.


The dollar rose 0.5 percent to 93.95 yen, near a 33-month peak of 94.47 yen set a week ago. The euro added 0.3 percent to 125.40 yen, to be midway between Friday's two-week low of 122.90 and a 34-month high of 127.71 yen hit earlier this month.


Strategists said the yen was likely to stay weak, though its decline could lose momentum until it becomes clear who will be taking the helm at the Bank of Japan when the current governor steps down on March 19.


"The yen probably will weaken a little further in anticipation of more aggressive easing under a new leadership team at the Bank of Japan," said Julian Jessop, chief global economist at Capital Economics.


Japan's Prime Minister Shinzo Abe is poised to nominate the new governor in the next few days. Sources have told Reuters that former financial bureaucrat Toshiro Muto, considered likely to be less radical than other candidates, was leading the field.


Meanwhile the euro dipped slightly against the dollar when European Central Bank president Mario Draghi said the currency's recent gains made any rise in inflation less likely and added that he had yet to see any improvement in the euro zone economy.


Speaking before the European Parliament, Draghi said the euro's exchange rate was not a policy target but was important for growth and stability, adding that appreciation of the euro "is a risk".


The comments left the euro down 0.2 percent at $1.3334.


Elsewhere in the currency market, sterling hit a seven-month low against the dollar, after a key policymaker made comments about the need for further weakness and recent poor data which has kept alive worries of another British recession.


Sterling fell 0.25 percent to $1.5476 having earlier touched $1.5438, its lowest since July 13.


DATA LOOMS


A big week for data on the outlook for the world's economy weighed on other riskier asset markets following the recent dire fourth-quarter growth numbers for the euro zone and Japan, along with Friday's soft U.S. manufacturing figures.


In European markets, attention is focused on the euro area Purchasing Managers' Indexes for February and German sentiment indices due later in the week which could affect hopes for a recovery this year.


Analysts expect Thursday's euro area flash PMI indices, which offer pointers to economic activity around six months out, to show growth stabilizing across the recession-hit region, leaving intact hopes for a recovery in the second half of 2013.


Concerns over an inconclusive outcome in the Italian election on Sunday and Monday have added to the weaker sentiment as a fragmented parliament could hamper a future government's efforts to reform the struggling economy.


The worries about the outlook for Italy were encouraging investors back into safe-haven German government bonds on Monday, with 10-year Bund yields easing 3.5 basis points to be around 1.63 percent.


"Political uncertainty will keep Bunds well bid this week," ING rate strategist Alessandro Giansanti said, adding that only better than expected economic data could create selling pressure on German debt in the near term.


Italian 10-year yields were 4 basis points higher on the day at 4.41 percent.


EARNINGS HIT


European equity markets were taking their lead from corporate earnings reports which have been reflecting the sluggish economic conditions across the region.


Danish brewer Carlsberg , which generates just over 60 percent of its sales in western Europe, became the latest to report a weaker-than-expected quarterly profit, sending its shares to their lowest level in almost a month.


The 5.8-percent drop for shares in the world's fourth biggest brewery helped send the FTSEurofirst 300 index <.fteu3> of top European shares down 0.2 percent. Germany's DAX <.gdaxi>, France's CAC-40 <.fchi> and Britain's FTSE-100 <.ftse> ranged between 0.4 percent up and 0.15 percent lower.


Earlier, the G20 statement and subsequent comment from Prime Minster Abe indicating a renewed drive to stimulate the Japanese economy lifted the Nikkei stock index <.n225> by 2.1 percent, near to its highest level since September 2008.


MSCI's world equity index <.miwd00000pus> was flat as markets extended a two-week period of consolidation that has followed the big run-up in January, when demand was buoyed by the efforts of central banks to stimulate the world economy.


Data from EPFR Global, a U.S.-based firm that tracks the flows and allocations of funds globally, shows investors pulled $3.62 billion from U.S. stock funds in the latest week, the most in 10 weeks after taking a neutral stance the prior week.


But demand for emerging market equities remained strong, with investors putting $1.81 billion in new cash into stock funds, the fund-tracking firm said.


CHINA RETURN


In the commodity markets, traders played catch-up after a week-long holiday last week in China, the world's second biggest consumer of many raw materials, which had kept activity subdued, with worries about the economic outlook weighing on sentiment.


Copper, for which China is the world's largest consumer, dipped to a near three-week low at $8,125.25 a metric ton (1.1023 tons) on the London futures market. Benchmark tin and nickel also touched three-week lows.


Gold managed to edge away from six-month lows as jewelers in China returned to the physical market after the Lunar New Year holiday but a lack of demand from U.S. markets saw the precious metal slip back to be down 0.1 percent to $1,607.06 an ounce.


Crude oil markets were mostly steady after the weak U.S. industrial production data on Friday [ID:nL1N0BF44A] was seen dampening demand, while tensions in the Middle East lent some support.


"We continue to see a mixed picture out of the United States. Industry output was lower than expected but that shouldn't affect the general upward direction," Olivier Jakob, analyst at Geneva-based Petromatrix, said.


Brent crude was down 20 cents at $117.46 a barrel after posting its first weekly loss since the first half of January. U.S. crude slipped 24 cents to $95.62.


(Additional reporting by Marius Zaharia and Ron Bousso; Editing by Philippa Fletcher and Alastair Macdonald)



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