"Great Rotation"- A Wall Street fairy tale?

NEW YORK (Reuters) - Wall Street's current jubilant narrative is that a rush into stocks by small investors has sparked a "great rotation" out of bonds and into equities that will power the bull market to new heights.

That sounds good, but there's a snag: The evidence for this is a few weeks of bullish fund flows that are hardly unusual for January.

Late-stage bull markets are typically marked by an influx of small investors coming late to the party - such as when your waiter starts giving you stock tips. For that to happen you need a good story. The "great rotation," with its monumental tone, is the perfect narrative to make you feel like you're missing out.

Even if something approaching a "great rotation" has begun, it is not necessarily bullish for markets. Those who think they are coming early to the party may actually be arriving late.

Investors pumped $20.7 billion into stocks in the first four weeks of the year, the strongest four-week run since April 2000, according to Lipper. But that pales in comparison with the $410 billion yanked from those funds since the start of 2008.

"I'm not sure you want to take a couple of weeks and extrapolate it into whatever trend you want," said Tobias Levkovich, chief U.S. equity strategist at Citigroup. "We have had instances where equity flows have picked up in the last two, three, four years when markets have picked up. They've generally not been signals of a continuation of that trend."

The S&P 500 rose 5 percent in January, its best month since October 2011 and its best January since 1997, driving speculation that retail investors were flooding back into the stock market.

Heading into another busy week of earnings, the equity market is knocking on the door of all-time highs due to positive sentiment in stocks, and that can't be ignored entirely. The Standard & Poor's 500 Index <.spx> ended the week about 4 percent from an all-time high touched in October 2007.

Next week will bring results from insurers Allstate and The Hartford , as well as from Walt Disney , Coca-Cola Enterprises and Visa .

But a comparison of flows in January, a seasonal strong month for the stock market, shows that this January, while strong, is not that unusual. In January 2011 investors moved $23.9 billion into stock funds and $28.6 billion in 2006, but neither foreshadowed massive inflows the rest of that year. Furthermore, in 2006 the market gained more than 13 percent while in 2011 it was flat.

Strong inflows in January can happen for a number of reasons. There were a lot of special dividends issued in December that need reinvesting, and some of the funds raised in December tax-selling also find their way back into the market.

During the height of the tech bubble in 2000, when retail investors were really embracing stocks, a staggering $42.7 billion flowed into equities in January of that year, double the amount that flowed in this January. That didn't end well, as stocks peaked in March of that year before dropping over the next two-plus years.

MOM AND POP STILL WARY

Arguing against a 'great rotation' is not necessarily a bearish argument against stocks. The stock market has done well since the crisis. Despite the huge outflows, the S&P 500 has risen more than 120 percent since March 2009 on a slowly improving economy and corporate earnings.

This earnings season, a majority of S&P 500 companies are beating earnings forecast. That's also the case for revenue, which is a departure from the previous two reporting periods where less than 50 percent of companies beat revenue expectations, according to Thomson Reuters data.

Meanwhile, those on the front lines say mom and pop investors are still wary of equities after the financial crisis.

"A lot of people I talk to are very reluctant to make an emotional commitment to the stock market and regardless of income activity in January, I think that's still the case," said David Joy, chief market strategist at Columbia Management Advisors in Boston, where he helps oversee $571 billion.

Joy, speaking from a conference in Phoenix, says most of the people asking him about the "great rotation" are fund management industry insiders who are interested in the extra business a flood of stock investors would bring.

He also pointed out that flows into bond funds were positive in the month of January, hardly an indication of a rotation.

Citi's Levkovich also argues that bond investors are unlikely to give up a 30-year rally in bonds so quickly. He said stocks only began to see consistent outflows 26 months after the tech bubble burst in March 2000. By that reading it could be another year before a serious rotation begins.

On top of that, substantial flows continue to make their way into bonds, even if it isn't low-yielding government debt. January 2013 was the second best January on record for the issuance of U.S. high-grade debt, with $111.725 billion issued during the month, according to International Finance Review.

Bill Gross, who runs the $285 billion Pimco Total Return Fund, the world's largest bond fund, commented on Twitter on Thursday that "January flows at Pimco show few signs of bond/stock rotation," adding that cash and money markets may be the source of inflows into stocks.

Indeed, the evidence suggests some of the money that went into stock funds in January came from money markets after a period in December when investors, worried about the budget uncertainty in Washington, started parking money in late 2012.

Data from iMoneyNet shows investors placed $123 billion in money market funds in the last two months of the year. In two weeks in January investors withdrew $31.45 billion of that, the most since March 2012. But later in the month money actually started flowing back.

(Additional reporting by Caroline Valetkevitch; Editing by Kenneth Barry)

Read More..

NFL's Goodell aims to share blame on player safety

NEW ORLEANS (AP) — NFL Commissioner Roger Goodell wants to share the blame.

"Safety," he said at his annual Super Bowl news conference, "is all of our responsibilities."

Not surprisingly, given that thousands of former players are suing the league about its handling of concussions, the topics of player health and improved safety dominated Goodell's 45-minute session Friday. And he often sounded like someone seeking to point out that players or others are at fault for some of the sport's problems — and need to help fix them.

"I'll stand up. I'll be accountable. It's part of my responsibility. I'll do everything," Goodell said. "But the players have to do it. The coaches have to do it. Our officials have to do it. Our medical professionals have to do it."

Injuries from hits to the head or to the knees, Goodell noted, can result from improper tackling techniques used by players and taught by coaches. The NFL Players Association needs to allow testing for human growth hormone to go forward so it can finally start next season, which Goodell hopes will happen. He said prices for Super Bowl tickets have soared in part because fans re-sell them above face value.

And asked what he most rues about the New Orleans Saints bounty investigation — a particularly sensitive issue around these parts, of course — Goodell replied: "My biggest regret is that we aren't all recognizing that this is a collective responsibility to get (bounties) out of the game, to make the game safer. Clearly the team, the NFL, the coaching staffs, executives and players, we all share that responsibility. That's what I regret, that I wasn't able to make that point clearly enough with the union."

He addressed other subjects, such as a "new generation of the Rooney Rule" after none of 15 recently open coach or general manager jobs went to a minority candidate, meaning "we didn't have the outcomes we wanted"; using next year's Super Bowl in New Jersey as a test for future cold-weather, outdoor championship games; and saying he welcomed President Barack Obama's recent comments expressing concern about football's violence because "we want to make sure that people understand what we're doing to make our game safer."

Also:

— New Orleans will not get back the second-round draft pick Goodell stripped in his bounty ruling;

— Goodell would not give a time frame for when the NFL could hold a game in Mexico;

— next season's games in London — 49ers-Jaguars and Steelers-Vikings — are sellouts.

Goodell mentioned some upcoming changes, including the plan to add independent neurologists to sidelines to help with concussion care during games — something players have asked for and the league opposed until now.

"The No. 1 issue is: Take the head out of the game," Goodell said. "I think we've seen in the last several decades that players are using their head more than they had when you go back several decades."

He said one tool the league can use to cut down on helmet-to-helmet hits is suspending players who keep doing it.

"We're going to have to continue to see discipline escalate, particularly on repeat offenders," Goodell said. "We're going to have to take them off the field. Suspension gets through to them."

The league will add "expanded physicals at the end of each season ... to review players from a physical, mental and life skills standpoint so that we can support them in a more comprehensive fashion," Goodell said.

With question after question about less-than-light matters, one reporter drew a chuckle from Goodell by asking how he's been treated this week in a city filled with supporters of the Saints who are angry about the way the club was punished for the bounty system the NFL said existed from 2009-11.

"My picture, as you point out, is in every restaurant. I had a float in the Mardi Gras parade. We got a voodoo doll," Goodell said.

But he added that he can "appreciate the passion" of the fans and, actually, "couldn't feel more welcome here."

___

Follow Howard Fendrich on Twitter at http://twitter.com/HowardFendrich

Read More..

Asteroid to Give Earth Record-Setting Close Shave on Feb. 15

An asteroid half the size of a football field will give Earth the ultimate close shave this month, passing closer than many satellites when it whizzes by, but it won’t hit the planet, NASA scientists say.

The asteroid 2012 DA14 will fly by Earth on Feb. 15 and zip within 17,200 miles (27, 680 kilometers) of the planet during the cosmic close encounter. The asteroid will approach much closer to Earth than the moon, and well inside the paths of navigation and communications satellites.

“This is a record-setting close approach,” Don Yeomans, the head of NASA’s asteroid-tracking program, said in a statement. “Since regular sky surveys began in the 1990s, we’ve never seen an object this big get so close to Earth.”

Asteroid 2012 DA14 was discovered last year by an amateur team of stargazers at the La Sagra Sky Survey observatory in Spain. Yeomans  stressed that, while the asteroid’s approach bring it closer than the geosynchronous satellites  orbiting 22,245 miles (35,800 km) above Earth, 2012 DA14 poses no threat of a deadly collision with the planet. [See Don Yeomans Explain Asteroid 2012 DA14 (Video)]

“2012 DA14 will definitely not hit Earth. The orbit of the asteroid is known well enough to rule out an impact,” Yeomans, who heads the Near-Earth Object Program at NASA’s Jet Propulsion Laboratory in Pasadena, Calif. He added that the odds it will slam into a satellite are “extremely remote.”

A fairly typical asteroid like 2012 DA14 — which measures 150 feet (45 meters) across — zips by Earth about every 40 years, but only strikes every 1,200 years, Yeomans estimated, and the impact of such an object would not be catastrophic over a wide area.

Asteroid 2012 DA14 is about the same size of the object that exploded in the atmosphere above Siberia in 1908, leveling hundreds of square miles in what scientists now call the “Tunguska Event,” NASA officials explained.

Yeomans said an asteroid similar in size to 2012 DA14 slammed into Earth 50,000 years ago to create the famed Meteor Crater in Arizona. But the Meteor Crater asteroid was made of iron, which made its impact especially strong.

When asteroid 2012 DA14 zooms by Earth, NASA scientists will be tracking the space rock closely. The space agency plans to use its Goldstone radar in California’s Mojave Desert to follow the asteroid from Feb. 16 to Feb. 20. The observation campaign should help astronomers build a 3D map asteroid 2012 DA14, as well as refine estimates on the space rock’s shape, spin and reflectivity, NASA officials said.

Since the object will be moving across the sky so fast, only the most experienced amateur astronomers are likely to catch its close pass. But it could be a challenge.

“The asteroid will be racing across the sky, moving almost a full degree (or twice the width of a full moon) every minute,” Yeomans said. “That’s going to be hard to track.”

Follow SPACE.com on Twitter @Spacedotcom. We’re also on Facebook and Google+.

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

Title Post: Asteroid to Give Earth Record-Setting Close Shave on Feb. 15
Url Post: http://www.news.fluser.com/asteroid-to-give-earth-record-setting-close-shave-on-feb-15/
Link To Post : Asteroid to Give Earth Record-Setting Close Shave on Feb. 15
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment

Read More..

Hillary: Secretary of empowerment

Girls hug U.S. Secretary of State Hillary Clinton during a 2010 tour of a shelter run for sex trafficking victims in Cambodia.

STORY HIGHLIGHTS

• Donna Brazile: Clinton stepping down as Secretary of State. Maybe she'll run for president


• She says as secretary she expanded foreign policy to include effect on regular people


• She says she was first secretary of state to focus on empowering women and girls


• Brazile: Clinton has fought for education and inclusion in politics for women and girls

Editor's note: Donna Brazile, a CNN contributor and a Democratic strategist, is vice chairwoman for voter registration and participation at the Democratic National Committee. She is a nationally syndicated columnist, an adjunct professor at Georgetown University and author of "Cooking with Grease." She was manager for the Gore-Lieberman presidential campaign in 2000.

(CNN) -- As Secretary of State Hillary Rodham Clinton steps down from her job Friday, many are assuming she will run for president. And she may. In fact, five of the first eight presidents first served their predecessors as secretary of state.

It hasn't happened in more than a century, though that may change should Clinton decide to run. After all, she has been a game changer her entire life.

But before we look ahead, I think we should appreciate what she's done as secretary of state; it's a high profile, high pressure job. You have to deal with the routine as if it is critical and with crisis as if it's routine. You have to manage egos, protocols, customs and Congress. You have to be rhetorical and blunt, diplomatic and direct.

CNN Contributor Donna Brazile

As secretary of state you are dealing with heads of state and with we the people. And the president of the United States has to trust you -- implicitly.

On the road with Hillary Clinton

Of all Clinton's accomplishments -- and I will mention just a few -- this may be the most underappreciated. During the election, pundits were puzzled and amazed not only at how much energy former President Bill Clinton poured into Obama's campaign, but even more at how genuine and close the friendship was.

Obama was given a lot of well-deserved credit for reaching out to the Clintons by appointing then-Sen. Hillary Clinton as his secretary of state in the first place. But trust is a two-way street and has to be earned. We should not underestimate or forget how much Clinton did and how hard she worked. She deserved that trust, as she deserved to be in the war room when Osama bin Laden was killed.

By the way, is there any other leader in the last 50 years whom we routinely refer to by a first name, and do so more out of respect than familiarity? The last person I can think of was Ike -- the elder family member who we revere with affection. Hillary is Hillary.

It's not surprising that we feel we know her. She has been part of our public life for more than 20 years. She's been a model of dignity, diplomacy, empathy and toughness. She also has done something no other secretary of state has done -- including the two women who preceded her in the Cabinet post.

Rothkopf: President Hillary Clinton? If she wants it

Hillary has transformed our understanding -- no, our definition -- of foreign affairs. Diplomacy is no longer just the skill of managing relations with other countries. The big issues -- war and peace, terror, economic stability, etc. -- remain, and she has handled them with firmness and authority, with poise and confidence, and with good will, when appropriate.

But it is not the praise of diplomats or dictators that will be her legacy. She dealt with plenipotentiaries, but her focus was on people. Foreign affairs isn't just about treaties, she taught us, it's about the suffering and aspirations of those affected by the treaties, made or unmade.

Most of all, diplomacy should refocus attention on the powerless.

Of course, Hillary wasn't the first secretary of state to advocate for human rights or use the post to raise awareness of abuses or negotiate humanitarian relief or pressure oppressors. But she was the first to focus on empowerment, particularly of women and girls.

She created the first Office of Global Women's Issues. That office fought to highlight the plight of women around the world. Rape of women has been a weapon of war for centuries. Though civilized countries condemn it, the fight against it has in a sense only really begun.

Ghitis: Hillary Clinton's global legacy on gay rights

The office has worked to hold governments accountable for the systematic oppression of girls and women and fought for their education in emerging countries. As Hillary said when the office was established: "When the Security Council passed Resolution 1325, we tried to make a very clear statement, that women are still largely shut out of the negotiations that seek to end conflicts, even though women and children are the primary victims of 21st century conflict."

Hillary also included the United States in the Trafficking in Person report. Human Trafficking, a form of modern, mainly sexual, slavery, victimizes mostly women and girls. The annual report reviews the state of global efforts to eliminate the practice. "We believe it is important to keep the spotlight on ourselves," she said. "Human trafficking is not someone else's problem. Involuntary servitude is not something we can ignore or hope doesn't exist in our own communities."

She also created the office of Global Partnerships. And there is much more.

She has held her own in palaces and held the hands of hungry children in mud-hut villages, pursuing an agenda that empowers women, children, the poor and helpless.

We shouldn't have been surprised. Her book "It Takes a Village" focused on the impact that those outside the family have, for better or worse, on a child's well-being.

As secretary of state, she did all she could to make sure our impact as a nation would be for the better.

Follow us on Twitter @CNNOpinion

Join us on Facebook/CNNOpinion

The opinions expressed in this commentary are solely those of Donna Brazile.

Read More..

Shootings leave 1 dead, 2 hurt

A bike lies abandoned in the snow near the spot where a 22-year-old man was found fatally shot Friday night. (Adam Sege, Chicago Tribune)

By Adam Sege

1:04 a.m. CST, February 2, 2013

A pair of shootings on a cold and snowy Friday night left a 22-year-old man dead and two people injured, Chicago police said.

The fatal shooting happened about 8:30 p.m., Chicago Police Department News Affairs Officer Ron Gaines said.

Officers found the man near a three-story apartment building in the 3900 block of North Central Avenue, in the Northwest Side's Portage Park neighborhood.

It was not clear, however, whether the man had been shot there, police said.

Paramedics rushed the man to Our Lady of the Resurrection Medical Center, where he was pronounced dead.

Later, as snow coated Central Avenue road and several squad parked near the scene, police searched for shell casings and photographed a bike lying by the an entrance on the building's north side.

Police have launched a homicide investigation in the shooting.

In a separate shooting, a 19-year-old and a 20-year-old were wounded about 11:30 p.m. near the intersection of South California Avenue and 52nd Street.

Both people were taken to Mount Sinai Hospital, where they were listed in good condition Gaines said.

The shooting happened in the Gage Park neighborhood on the Southwest Side.

Check back for more information.

chicagobreaking@tribune.com

Twitter: @ChicagoBreaking

Read More..

Suicide bomber kills guard at U.S. embassy in Turkey

ANKARA (Reuters) - A far-leftist suicide bomber killed a Turkish security guard at the U.S. embassy in Ankara on Friday, officials said, blowing open an entrance and sending debris flying through the air.

The attacker detonated explosives strapped to his body after entering an embassy gatehouse. The blast could be heard a mile away. A lower leg and other human remains lay on the street.

Prime Minister Tayyip Erdogan said the bomber was a member of the Revolutionary People's Liberation Party-Front (DHKP-C), a far-left group which is virulently anti-U.S. and anti-NATO and is listed as a terrorist organisation by Washington.

The White House said the suicide attack was an "act of terror" but that the motivation was unclear. U.S. officials said the DHKP-C were the main suspects but did not exclude other possibilities.

Islamist radicals, extreme left-wing groups, ultra-nationalists and Kurdish militants have all carried out attacks in Turkey in the past. There was no claim of responsibility.

"The suicide bomber was ripped apart and one or two citizens from the special security team passed away," said Prime Minister Tayyip Erdogan.

"This event shows that we need to fight together everywhere in the world against these terrorist elements," he said.

In New York, the U.N. Security Council strongly condemned the attack as a heinous act.

Turkish media reports identified the bomber as DHKP-C member Ecevit Sanli, who was involved in attacks on a police station and a military staff college in Istanbul in 1997.

KEY ALLY

Turkey is a key U.S. ally in the Middle East with common interests ranging from energy security to counter-terrorism and has been one of the leading advocates of foreign intervention to end the conflict in neighboring Syria.

Around 400 U.S. soldiers have arrived in Turkey over the past few weeks to operate Patriot anti-missile batteries meant to defend against any spillover of Syria's civil war, part of a NATO deployment due to be fully operational in the coming days.

The DHKP-C was responsible for the assassination of two U.S. military contractors in the early 1990s in protest against the first Gulf War and launched rockets at the U.S. consulate in Istanbul in 1992, according to the U.S. State Department.

Deemed a terrorist organisation by both the United States and Turkey, the DHKP-C has been blamed for suicide attacks in the past, including one in 2001 that killed two police officers and a tourist in Istanbul's central Taksim Square.

The group, formed in 1978, has carried out a series of deadly attacks on police stations in the last six months.

The attack may have come in retaliation for an operation against the DHKP-C last month in which Turkish police detained 85 people. A court subsequently remanded 38 of them in custody over links to the group.

"HUGE EXPLOSION"

U.S. Ambassador Francis Ricciardone emerged through the main gate of the embassy shortly after the explosion to address reporters, flanked by a security detail as a Turkish police helicopter hovered overhead.

"We're very sad of course that we lost one of our Turkish guards at the gate," Ricciardone said, describing the victim as a "hero" and thanking Turkish authorities for a prompt response.

U.S. State Department spokeswoman Victoria Nuland condemned the attack on the checkpoint on the perimeter of the embassy and said several U.S. and Turkish staff were injured by debris.

"The level of security protection at our facility in Ankara ensured that there were not significantly more deaths and injuries than there could have been," she told reporters.

It was the second attack on a U.S. mission in four months. On September 11, 2012, U.S. Ambassador Christopher Stevens and three American personnel were killed in an attack on the U.S. Consulate in Benghazi, Libya.

The attack in Benghazi, blamed on al Qaeda-affiliated militants, sparked a political furore in Washington over accusations that U.S. missions were not adequately safeguarded.

A well-known Turkish journalist, Didem Tuncay, who was on her way in to the embassy to meet Ricciardone when the attack took place, was in a critical condition in hospital.

"It was a huge explosion. I was sitting in my shop when it happened. I saw what looked like a body part on the ground," said travel agent Kamiyar Barnos, whose shop window was shattered around 100 meters away from the blast.

CALL FOR VIGILANCE

The U.S. consulate in Istanbul warned its citizens to be vigilant and to avoid large gatherings, while the British mission in Istanbul called on British businesses to tighten security after what it called a "suspected terrorist attack".

In 2008, Turkish gunmen with suspected links to al Qaeda, opened fire on the U.S. consulate in Istanbul, killing three Turkish policemen. The gunmen died in the subsequent firefight.

The most serious bombings in Turkey occurred in November 2003, when car bombs shattered two synagogues, killing 30 people and wounding 146. Part of the HSBC Bank headquarters was destroyed and the British consulate was damaged in two more explosions that killed 32 people less than a week later. Authorities said those attacks bore the hallmarks of al Qaeda.

(Additional reporting by Daren Butler and Ayla Jean Yackley in Istanbul, Mohammed Arshad and Mark Hosenball in Washington; Writing by Nick Tattersall; Editing by Stephen Powell and Sandra Maler)

Read More..

Asian shares steady; regional PMI data dampens mood

TOKYO (Reuters) - Asian shares were on the defensive on Friday after a series of surveys on factory output signaled a tough outlook for the region's manufacturers, though Japanese equities were a notable exception, logging their longest winning run in 54 years on a weaker yen.

European markets are likely to inch higher, with financial spreadbetters predicting London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> would open up as much as 0.2 percent.

A 0.3 percent rise in U.S. stock futures suggested a firmer open on Wall Street. <.l><.eu><.n/>

Several surveys on Friday suggested Asia's manufacturers face a challenging business climate in the coming months, with China's vast factory sector managing only a shallow rebound at the start of 2013 as feeble foreign demand dragged on sales.

Two separate surveys of China's purchasing managers' index (PMI) showed that factory output in the world's second-biggest economy rose in January, but the pace of the revival in activity was uneven.

China's official PMI logged a reading of 50.4, easing from December's 50.6 and below forecasts for a nine-month high of 50.9. A separate private sector PMI released by HSBC, however, rose to a two-year high of 52.3.

"It seems new orders for exports have declined even when new orders overall rose, suggesting that infrastructure spending and other investment to spur domestic demand is needed to keep (China's) economy growing," said Naohiro Niimura, a partner at research and consulting firm Market Risk Advisory.

"But it's not going to change the view about the Chinese economy recovering. The official data was just neither good nor bad."

Other PMI releases showed manufacturing growth slowed or stalled in India and South Korea, while factories in Indonesia said business shrank in January from December for the first time in eight months.

The MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> was little changed by mid-afternoon after swinging up and down 0.2 percent during the day. It was set for a weekly gain of 0.6 percent and 2.6 percent so far this year.

A 0.9 percent jump to a 21-month high in resources-reliant Australian shares <.axjo> helped the pan-Asian index out of the negative territory, but weak Hong Kong shares <.hsi> capped the index.

The commodity-linked Australian dollar fell 0.3 percent to session lows around $1.0382.

"Australia is a high-yielding country and there are a lot of foreign funds coming here and that is supporting the market," said Macquarie Equities division director Lucinda Chan.

Investors' focus now turns to the U.S. nonfarm payrolls report, which will likely show a rise of 160,000 jobs and the jobless rate staying steady at 7.8 percent.

Manufacturing purchasing managers' indexes from the United States and the euro zone, as well as the Institute for Supply Management's manufacturing index, are also due later in the session.

The euro added 0.3 percent to $1.3623 to the dollar, after earlier reaching a fresh 14-month high of $1.3634. The common currency's strength has pushed the dollar index to a one-month low of 79.078 <.dxy>.

"The euro revival looks set to continue for some time, as investors return to euro zone bond markets, content with the combination of the European Central Bank backstop for sovereign risk and low inflation danger due to lack of economic growth. The dollar bloc looks to be a key loser in the portfolio reallocation back into EUR," Westpac bank said in a note.

Asia official PMI: http://link.reuters.com/baq77s

China PMI: http://link.reuters.com/qaf92t

Asset returns in 2013: http://link.reuters.com/dub25t

S&P 500 vs Treasury yield: http://link.reuters.com/ren65t

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>

YEN STILL UNDER PRESSURE, NIKKEI SHINES

Japan's benchmark Nikkei stock average <.n225> closed at a fresh 33-month high, bolstered by the yen's decline to new lows, and logged its 12th straight week of gains, the longest run of weekly gains since 1959. The benchmark index rose 0.5 percent. <.t/>

The dollar advanced further against the yen, up 0.6 percent to 92.25 yen, having earlier hit its highest since June 2010 of 92.27. The euro extended gains, soaring 1 percent to its highest since April 2010 of 125.75.

The yen also plunged to its lowest since August 2008 against both the Australian dollar, at 95.84 yen, and against the New Zealand dollar at 77.58 yen.

"The yen selling is seen as a safe bet because Prime Minister Shinzo Abe has not faltered on his election pledge about beating deflation, highlighting the government's resolve," said Kimihiko Tomita, head of forex at State Street in Tokyo.

Oil and copper prices firmed and the euro extended gains against the dollar, reflecting a recent trend of improving sentiment across asset classes, underpinned by easing stress in the euro zone and a generally positive global economic outlook.

"Chinese data should get stronger into the second quarter. Global indicators are improving, so it makes sense to a certain extent that speculators are taking another look at copper," said analyst Bonnie Liu of Macquarie in Singapore.

London copper added 0.6 percent to $8,213.50 a tonne.

U.S. crude futures inched up 0.1 percent to $97.56 a barrel while Brent hit its highest in over three months at $115.91.

(Additional reporting by Victoria Thieberger in Melbourne and Melanie Burton in Singapore; Editing by Eric Meijer and Shri Navaratnam)

Read More..

SUPER BOWL WATCH: Beyonce, avocados, practice

NEW ORLEANS (AP) — Around Super Bowl XLVII and its host city with journalists from The Associated Press bringing the flavor and details of everything surrounding the game:

___

GRIDIRON TO LEMONADE STAND

Donald Driver didn't waste much time finding a new job.

The Green Bay Packers all-time leading receiver announced his retirement Thursday morning, then helped kids from Junior Achievement sell lemonade at a pop-up stand in the Super Bowl media center.

Not only did Driver help behind the counter, he loaded up four carrying cases and he and his three new friends set out to find customers. Their cases were empty when they returned.

"All the money they've raised will stay here in New Orleans," Driver said. "What they're starting to do is learn how to run their own business, become entrepreneurs by themselves.

"I'm just here to raise as much money so maybe they can open up their own lemonade stand the next couple of years.

— Nancy Armour — http://twitter.com/nrarmour

___

JUDGE FOR YOURSELF: BEYONCE

Wondering about Beyonce and her response inauguration lip syncing flap?

Judge for yourself — here's her full rendition of the national anthem during a press conference Thursday: http://www.youtube.com/watch?v=8p2MTKCLNsY

___

QUICKQUOTE: JERSEYS AND DRUGS

Authorities say buying a cheap imitation NFL jersey may be more harmful than you think.

Kevin Abar, assistant special agent in charge of Homeland Security Investigations in New Mexico, said there's evidence that Mexican drug cartels are getting involved in the counterfeit NFL black market trade because they can make quick money.

"A lot of folks may think that there's nothing wrong with buying a knockoff Denver Broncos jersey, but in reality, the money is being used to fund the drug war in Mexico," Abar said.

— Michael Kunzelman — http://twitter.com/Kunzelman75

___

STAT OF THE DAY: 158M AVOCADOS

AP Food Editor J.M. Hirsch has the stat of the day today: Americans are expected to consume 158 million avocados around the Super Bowl.

That's 79 million pounds of green goodness — up from 8 million pounds at the turn of the century.

So has the guacamole improved that much? Not really, it's just outstanding marketing and other factors.

— J.M. Hirsch — http://twitter.com/JM_Hirsch

___

YUP, WE HEARD YOU, BEYONCE

Beyonce belted out the national anthem — for real — and America clearly heard.

Shortly after the singer's press conference on Thursday where she admitted singing to a backup track during President Barack Obama's inauguration, "National Anthem" became a trending topic in the United States on Twitter.

Millions of fans clearly approved of her impromptu performance, now reassured that her pipes are still fine.

— Oskar Garcia — http://twitter.com/oskargarcia .

___

NO TAPE NEEDED

Beyonce's version of the national anthem was worth the wait.

The superstar singer, roundly criticized for lip syncing "The Star-Spangled Banner" at the inauguration 10 days ago, walked into Thursday's news conference for the Super Bowl halftime show and asked the ballroom filled with several hundred people to stand. She then belted out a spine-tingling version of the anthem, leaving no doubts about the power of her voice. Many in the room applauded when she finished.

"Thank you guys so much. Any questions?" Beyonce said, drawing laughs.

Beyonce admitted she sang along with a pre-recorded track at the inauguration, saying she hadn't had time to rehearse with the orchestra. This was too big of an occasion to have it be anything less than perfect, she said.

"I did not feel comfortable taking a risk," she said. "This was about the president and the inauguration and I wanted to make my country proud."

She did promise to sing live Sunday, however.

"I am well-rehearsed," she said. "This was what I was born to do."

That was about all Beyonce was willing to spill, though. She wouldn't say what she'll be singing, though she did say it was "not easy" to choose a few songs from her many hits.

"All of my songs are like my children," she said.

As for that rumored Destiny's Child reunion, Beyonce wouldn't confirm it.

She didn't deny it, though, either.

"I can't really give you any details," she said. "I'm sorry."

— Nancy Armour — http://twitter.com/nrarmour

___

TURF WARS

The Baltimore Ravens don't like the artificial turf at Tulane's baseball field.

So they've moved to the Saints' facility instead.

The San Francisco 49ers were already training at the Saints' complex in nearby Metairie.

The AFC champions were forced to practice in the outfield of the baseball facility Wednesday because Tulane has broken ground on a new football stadium. Coach John Harbaugh, star linebacker Ray Lewis and several other players said it was "hard on the legs."

After the Ravens approached the league about practicing on grass, the NFL arranged for them to follow the 49ers at the Saints training fields.

— Barry Wilner

___

10 ADS TO WATCH

If you're a fan of Super Bowl ads, here are 10 to look out for during Sunday's game. With more than 111 million people expected to tune in, it's advertising's biggest showcase.

1. Samsung Mobile's 2-minute ad with "Knocked Up" actors Paul Rudd and Seth Rogen, directed by Jon Favreau ("Iron Man"). The company has not released details about the ad's plot other than to say that it shows Rogen and Rudd on a "quest to become the next big thing." Teaser here: http://www.youtube.com/watch?v=pzfAdmAtYIY

2. Best Buy's 30-second ad in the first quarter stars Amy Poehler, star of NBC's "Parks and Recreation," asking a Best Buy employee "lots of questions." Teaser: http://www.youtube.com/watch?v=PcmW8HCuLo8

3. Kraft enlists Tracy Morgan from NBC's "30 Rock" to introduce its new Mio Fit water enhancing drops in a 30-second ad during the third quarter. Teaser: http://www.youtube.com/user/makeitmio?feature=watch

4. Hyundai Motor Group's Kia invents a fanciful way that babies are made, blasting in from a baby planet in its "Space babies" ad for the 2014 Sorento crossover. Link: http://www.youtube.com/user/KiaMotorsAmerica?feature=watch

5. First-time advertiser Paramount Farms is touting its Wonderful Pistachios brand of nuts in a 30-second ad with Korean pop sensation Psy. The campaign: http://getcrackin.com/

6. First-time advertiser Axe shows a woman in the ocean getting rescued by a sexy lifeguard, but going for an astronaut instead. It promotes Axe's new cologne "Apollo" and its contest to send someone on the first suborbital space tour in 2014. Link: http://www.youtube.com/watch?v=QGoU3VH7He4

7. Audi's 60-second ad in the first quarter, with an ending voted on by viewers, shows a boy gaining confidence from driving his father's Audi to the prom, kissing the prom queen and getting decked by the prom king. Link: http://www.youtube.com/watch?v=ANhmS6QLd5Q

8. PepsiCo's Frito-Lay's Doritos "Crash the Super Bowl" ads are back for the seventh straight year. Two 30-second commercials made by consumers will make it on the air. Fans voted for one winner and Doritos chose the other.

9. Ford Motor Co. enlisted late-night talk show host Jimmy Fallon to choose road trip stories submitted by Twitter with the hashtag (hash)steerthescript to base its Super Bowl commercial for Lincoln. The ad features rapper Joseph "Rev Run" Simmons, Wil Wheaton, who acted in the iconic science-fiction series "Star Trek: The Next Generation."

10. The Milk Processor Education Program, known as MilkPep and popular for its "Got Milk?" print ads, is featuring actor and professional wrestler Dwayne "The Rock" Johnson in a 30-second ad in the second quarter that is directed by Peter Berg ("Friday Night Lights.")

— Mae Anderson

___

BEYONCE, BUT WHO ELSE?

There's lots of hype for Beyonce's halftime performance at the Super Bowl, but she's far from the only A-list act in New Orleans this week.

The NFL has announced Jennifer Hudson is planning to sing "America the Beautiful" before the game with the chorus from Sandy Hook Elementary School in Newtown, Conn.

Just add her to the already packed list. It also includes:

— Justin Timberlake, in his first major musical performance in four years (hosting Saturday Night Live doesn't count — he hasn't been an official musical guest on the show since 2006).

— Stevie Wonder

— CeeLo Green with his old hip-hop clique, Goodie Mob.

—Rascal Flatts with Journey.

And then there's the parties. Lil Wayne is throwing a bash. Jay-Z will host another event the night before his wife, Beyonce, takes stage. Jamie Foxx and Santigold are also performing, while DJs including Diplo and Questlove from The Roots are spinning.

Not that it's ever difficult, but it's extra easy to find a party in New Orleans the next few days.

___

— Stacey Plaisance

___

PUTTING POLITICS ASIDE FOR NEW ORLEANS

Long working on opposite sides of the American political spectrum, James Carville and Mary Matalin are pulling in the same direction when it comes to promoting their adopted home of New Orleans as a Super Bowl host.

Carville, a longtime Democratic strategist, and Matalin, a Republican pundit, are the co-chairs of the Super Bowl host committee. They're also married.

They've been making the rounds together from one event to the next in the convention center, which houses both the NFL Experience theme park and work stations for several thousand international media.

Carville is from Louisiana and the couple married in New Orleans. Then in 2008, they decided to move here from Washington, D.C. Now living in a stately home just two blocks off of historic St. Charles Avenue, they've been among the biggest boosters of the Big Easy's recovery from Hurricane Katrina, lending their support to a variety of community projects with goals ranging from restoration of fragile coastal wetlands to education and economic development.

The pair agree that while organizing a Super Bowl doesn't cost as much as a presidential campaign, it's just as hard because it's a multiyear project with a lot of moving parts.

Carville says he's always been a sports fan so the transition was natural for him. Matalin says one obvious goal is to get New Orleans back in the regular rotation as a Super Bowl host, but the larger goal is to help the city's future by demonstrating how successfully it can host one of the biggest single events in the sports world. While New Orleans is hosting its 10th Super Bowl, the NFL championship has not been played there since 2002.

Says Carville: "If it goes the way we hope it does, it'll go beyond economic impact. It'll go beyond who won the game. It think there's something significant that's coming to a point here in the city."

___

— Brett Martel — http://twitter.com/brettmartel

___

ZOO VS ZOO

File this in the quirky Super Bowl wager department: Zoos in Baltimore and San Francisco are gambling with the homes of two ravens and a rhino.

Leaders of The Maryland Zoo and The San Francisco Zoological Gardens have wagered naming rights to their respective exhibits with ties to their hometown football teams.

The zoo in Baltimore is home to official Ravens mascots, Rise and Conquer. If 49ers win, it will rename the ravens' enclosure the "San Francisco 49ers exhibit."

If the Ravens win, the San Francisco zoo has agreed to re-name the enclosure of its black rhino "Boone," who is named after the 49ers offensive tackle Alex Boone, in honor of the Ravens.

The new name would last one month, starting Feb. 11.

___

CATCHING THE COUNTERFEITERS

Shop wisely when looking for those Super Bowl souvenirs.

Federal officials have seized more than 163,000 counterfeit items worth more than $13.6 million over the last five months as part of Operation Red Zone, John Morton, director of U.S. Immigrations and Customs Enforcement, said. That's a "significant" increase from last year, when about $5 million worth of merchandise was seized.

"Everything from hats to jerseys to Nike shoes. My personal favorite is this counterfeit Super Bowl ring from Super Bowl XLIV," Morton said, holding up a massive gold ring. "It's actually quite heavy and a better counterfeit than most. Just goes to show you the lengths people will go in this business."

Equally troubling are websites selling counterfeit merchandise, some so sophisticated they include anti-virus logos and the seal of the Better Business Bureau — making them almost impossible to tell them apart from legitimate vendors.

Morton said federal officials have already seized domain names of 313 web sites, almost all of which originated overseas.

"Imagine what's going on when you're putting your credit card through this site. Really think about that," Morton said. "The site is being run by overseas criminals in Asia.... You can imagine what the result is, and sadly many, many of these sites come with malware and other unfortunate ornaments on the Christmas tree."

The easiest way to make sure fans are buying legitimate merchandise is to buy from an official vendor, Morton said. Each team has one, as does the NFL.

But the best way fans can prevent being scammed is to use common sense, Morton said. Look closely at items, and there will be signs they're fakes. If there are extra words in a website address — com.us — or misspellings, that's almost always a dead giveaway.

"We're not letting up," Morton said. "We'll have teams out the next couple of days looking for counterfeit and scam artists."

— Nancy Armour — http://twitter.com/nrarmour

___

RENO: THE KAEPERNICK EFFECT

Casinos in the Biggest Little City in the World are expecting a bump in Super Bowl betting this year thanks to 49ers quarterback Colin Kaepernick, maybe enough to help Nevada set a record in wagering on the game.

Kaepernick played college football at Nevada, just down the street from casinos in Reno.

Now, most of those casinos are offering an especially large number of proposition bets on the quarterback.

Kaep-mania has run so rampant in Reno that sporting goods stores can't keep stocked in jerseys. More than 7,000 fans set what Nevada officials said was a world record when they all simultaneously kissed their arms "Kaepernicking style" during a break in last week's basketball game against San Diego State.

A Kaepernick viewing party is planned during Sunday's game at the student union.

— Scott Sonner

___

NO MORE TALKING

The players can focus on football now — they're officially done talking to the media.

Ravens safety Ed Reed was the last guy at the podium on Thursday. After he finished talking with reporters, he scooped up a blue placard with his name on it.

"I'm going to give it to my mother," he said.

He said he's very glad that his interviews are done for the week.

Players had three hourlong sessions during the week, and Reed had another press availability on Monday.

The coaches for the 49ers and Ravens will speak with reporters again on Friday morning.

— Paul Newberry — http://twitter.com/pnewberry1963

___

BROTHERLY ADVICE: BROOK LOPEZ

Baltimore Ravens coach John Harbaugh and San Francisco 49ers coach Jim Harbaugh are hardly the only high-profile siblings who've squared off in their arena of expertise. The AP is asking some others who can relate how they'd handle going against a family member in the Super Bowl.

Brooklyn Nets center Brook Lopez said after scoring 21 points in a loss to the Miami Heat on Wednesday night that it's a combination of joy and competitiveness.

"I know they're just going to treat it as a game. That's how I treat it whenever I play Robin," Brook Lopez said. "I know they will enjoy it as well. But if I have any experience playing against Robin growing up, I know it's going to be competitive. I know they're going to want to beat each other."

Brook's brother, Robin, plays for the New Orleans Hornets.

— Brian Mahoney — http://twitter.com/briancmahoney

___

SORRY, MOM

The way Jack Harbaugh tells the story, Jackie Harbaugh was so shocked by her eldest son's decision to choose coaching over a career in law or politics, she fell face-first into a dish of mashed potatoes.

See, Jackie Harbaugh loves political science and politics. And as a political science major at Bowling Green with a high grade-point, John Harbaugh seemed headed for law school.

"Jackie was so excited about it," Jack Harbaugh said.

But both of the Harbaugh boys had been bitten by the coaching bug early. The practice fields at Iowa and Michigan were their playground, and they knew more about coaching before they got out of grade school than some veteran assistants.

"He came home one day and we're sitting around the table and we're having dinner. Jackie says, 'John, what law school will it be?' John said, 'Mom, I think I want to try coaching,' Jack Harbaugh said. "To which Jackie went facedown into the mashed potatoes. She said, 'What? Coaching? You've got to reconsider!'"

That's not exactly what happened, Jackie Harbaugh said.

"May I tell the truth? There were no mashed potatoes," she said. "When he came home and talked about (coaching) and I saw that look in his eyes, my feeling was, you have to do what you want to do. If you want to try this and see where it takes you, that would be great."

Seems like he made the right choice. After making the playoffs in each of his first four seasons, John Harbaugh has the Baltimore Ravens in the Super Bowl on Sunday, where they'll face his brother Jim's San Francisco 49ers.

— Nancy Armour — http://twitter.com/nrarmour

___

EATING RIGHT

How about some home cookin' in the Big Easy — as in 150 plates of it to feed a football team? That's what Ravens wide receiver Jacoby Jones' mother, Emily, presented the Baltimore players for dinner this week at the team hotel to kick off Super Bowl prep New Orleans-style.

"Gumbo, jambalaya, potato salad, bread pudding, macaroni, the whole nine yards. She made 150 plates," Jones said. "All they kept saying is she put her foot in it. I love it."

That's a real compliment around here.

Now, Jones might give his mother a break.

"I'm going to let her be. I might buy me some crawfish or something."

And he knows all the best spots in New Orleans to get it.

— Janie McCauley — http://twitter.com/janieMcCAP

___

EDITOR'S NOTE — "Super Bowl Watch" shows you the Super Bowl and the events surrounding the game through the eyes of Associated Press journalists across New Orleans and around the world. Follow them on Twitter where available with the handles listed after each item.

Read More..

Arizona challenges EPA on power plant decision

PHOENIX (AP) — Arizona is challenging a federal decision that requires three coal-fired power plants to upgrade pollution controls.

The Arizona Attorney General’s Office asked a federal appeals court Thursday to review the decision from the U.S. Environmental Protection Agency.

The EPA partially approved Arizona air quality plan for the Cholla, Coronado and Apache generating stations. But the agency said the state didn’t do enough to limit nitrogen oxide emissions.

The EPA came up with new limits for most of the units and gave the plants’ operators five years to comply.

State Department of Environmental Quality Director Henry Darwin says Arizona should be making decisions about what’s in the best interest of the state, not the EPA.

Energy News Headlines – Yahoo! News

Title Post: Arizona challenges EPA on power plant decision
Url Post: http://www.news.fluser.com/arizona-challenges-epa-on-power-plant-decision/
Link To Post : Arizona challenges EPA on power plant decision
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment

Read More..

Reality check needed on immigration?

STORY HIGHLIGHTS

• Howard Kurtz: The mainstream media are rooting for immigration policy changes


• Kurtz: Is enthusiasm causing the media to overestimate the prospects for reform?


• He says the Republican House has been a graveyard for numerous Obama reforms


• Kurtz: Illegal immigration still arouses visceral opposition among some Americans

Editor's note: Howard Kurtz is the host of CNN's "Reliable Sources" and is Newsweek's Washington bureau chief. He is also a contributor to the website Daily Download.

(CNN) -- The mainstream media -- you know who you are -- are rooting for immigration reform.

They like the idea of doing something to accommodate the country's 11 million undocumented immigrants, who, despite conservative rhetoric to the contrary, were never going to be banished.

They swoon over the kind of bipartisanship that brings together John McCain and Marco Rubio on the one hand and Barack Obama and Chuck Schumer on the other.

Howard Kurtz

They believe the Republican Party needs to moderate its harsh rhetoric about immigrants -- if only to salvage its political future -- and are welcoming the GOP's new realism.

But is that enthusiasm causing media organizations to overestimate the prospects for reform?

Watch: Steve Kroft Plays Defense Over Hillary/Obama Lovefest on '60 Minutes'

Any bill still must pass the Republican House, which has been a graveyard for numerous Obama reforms. The Senate has always been a place where top lawmakers reach across the aisle more easily than in the polarized House, as was evident during the fiscal cliff debacle. And there are conservative groups determined to derail any path toward citizenship, which they view as amnesty.

It's not that journalists are acting as cheerleaders for the emerging plan. But when the media have qualms about an issue, they couch it as being "controversial" and "risky" (say, George W. Bush's plan to privatize Social Security).

Opinion: Immigrant - Can we trust Obama?

By contrast, look at the way the president's immigration speech in Las Vegas was covered:

The New York Times: "Seizing on a groundswell of support for rewriting the nation's immigration laws ..."

The Washington Post: "Obama added to momentum on Capitol Hill in favor of an overhaul of the nation's immigration laws ..."

We saw the same supportive approach when the Pentagon lifted a ban on women serving in front-line combat positions, which, despite some conservative opposition, was greeted with favorable features that largely depicted the move as long overdue.

Watch: Should N.Y. Times Have Censored Company Name Over the S-Word?

As with many perpetual Beltway disputes, the contours of a common-sense compromise on immigration have been clear for some time. The right wants tougher border enforcement and employer verification procedures. The left wants undocumented immigrants taken out of the "shadows," as Obama put it, and given a chance to become openly productive members of society.

The key are the tradeoffs. How long would a path to citizenship take? Are fines and back taxes required? How do we ensure that those who broke the law don't get an unfair advantage over legal applicants?

I don't argue with the standard political analysis that the moment may be ripe for immigration reform.

Watch: Media Seize on Emotional Moment of Gabby Giffords' Testimony

Mitt Romney, who talked about wanting immigrants to "self-deport," got clobbered among Hispanic voters. The GOP has lost the popular vote in five of the past six presidential elections. Sean Hannity, the Fox News commentator, says he has "evolved" on the issue, and he's not alone.

The conservative media may be a bellwether here. After Obama's Tuesday speech, Hannity's leadoff guest was Karl Rove, the former Bush lieutenant who favors the Senate compromise. And when Rubio, the Florida senator and son of Cuban immigrants, called in to Rush Limbaugh's show, the host -- while criticizing Obama -- told him, "What you are doing is admirable and noteworthy. You are recognizing reality."

Watch: BlackBerry 10: Is It a Hit or All Thumbs?

But illegal immigration remains a divisive subject that still arouses visceral opposition among some Americans. Capitol Hill is a place where partisan maneuvering can push the government to the brink of default. And as George W. Bush learned in his second term, hammering out a compromise on such a volatile issue is maddeningly elusive.

Perhaps the election changed the landscape and both parties will find a way to compromise. In the meantime, it might be wise to take the upbeat media coverage with a healthy dose of skepticism.

Follow us on Twitter @CNNOpinion.

Join us on Facebook/CNNOpinion.

The opinions expressed in this commentary are solely those of Howard Kurtz.

Read More..