Energy-Guzzling Cities Changing Weather 1,000 Miles Away

The heat released by everyday activities in energy-guzzling cities is changing the weather in far-away places, scientists report today (Jan. 27).

The released heat is changing temperatures in areas more than 1,000 miles away (1609 kilometers). It is warming parts of North America by about 1 degree Fahrenheit (0.6 degrees Celsius) and northern Asia by as much as 1.8 degrees Fahrenheit (1 degree Celsius), while cooling areas of Europe by a similar amount, scientists report in the journal Nature Climate Change.

The released heat (dubbed waste heat), it seems, is changing atmospheric circulation, including jet streams — powerful narrow currents of wind that blow from west to east and north to south in the upper atmosphere. 

This impact on regional temperatures may explain a climate puzzle of sorts: why some areas are having warmer winters than predicted by climate models, the researchers said. In turn, the results suggest this phenomenon should be accounted for in models forecasting global warming.

“There’s a tendency in climate science to overlook the effects of cities,” Brian Stone, a professor of city and regional planning at Georgia Tech, told LiveScience. “Cities occupy just a few percent of the global land surface, but the amount of energy released as waste heat is contributing downwind to pretty significant changes in climate. I hope this will encourage us to focus more on cities as important drivers of climate change,” added Stone, who was not involved in the current study. [8 Ways Global Warming Is Already Changing the World]

Hot in the city

Cities are known to be warmer than their surroundings due to what’s known as the urban heat island effect — pavement, buildings and other building materials retain heat, preventing it from reradiating into the sky.

In the new study, the researchers looked at another kind of “urban heat,” this one produced directly by transportation, heating and cooling units, and other energy-consuming activities.

“The burning of fossil fuel not only emits greenhouse gases, but also directly affects temperatures because of heat that escapes from sources like buildings and cars,” said study researcher Aixue Hu, of the National Center for Atmospheric Research (NCAR), in a statement. “Although much of this waste heat is concentrated in large cities, it can change atmospheric patterns in a way that raises or lowers temperatures across considerable distances.”

Hu and colleagues studied the energy effect using the National Center for Atmospheric Research (NCAR) model, a widely used climate model that takes into account the effects of greenhouse gases, topography, oceans, ice and global weather. The researchers ran the model with and without the input of human energy consumption, to see whether it could account for large-scale regional warming.

When man-made energy was included in the model, it led to winter and autumn temperature changes of up to 1.8 degrees F (1 degree C) in mid- and high-latitude parts of North America and Eurasia. The modeling is based on estimates, however, and more studies are needed to measure how much heat is actually released by urban areas.

Heat disrupts jet stream

Here’s how the scientists think it works: Energy-hungry metropolitan areas are located on the east and west coasts of North America and Eurasia, beneath major “hot spots” of atmospheric circulation. The waste heat from these cities creates thermal mountains, or taller-than-normal columns of heated air, which cause air jets moving eastward to deflect northward and southward.

As a result, the jet stream in upper latitudes widens and strengthens, bringing up hot air from the south and causing warming far from the urban areas (and concurrent cooling in others).

“The energy consumption in highly populated areas can cause changes in wind patterns, and that causes climate change far away from the heating source,” said meteorologist and study author Ming Cai of Florida State University.

Follow LiveScience on Twitter @livescience. We’re also on Facebook & Google+.

Copyright 2013 LiveScience, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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Wall Street Week Ahead: Bears hibernate as stocks near record highs

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

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

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

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

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

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

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

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

MUTUAL FUND INVESTORS COME BACK

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

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

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

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

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

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

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

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

JOBS DATA MAY TEST THE RALLY

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

MUTUAL FUND INVESTORS COME BACK

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

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

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

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

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

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

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

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

JOBS DATA MAY TEST THE RALLY

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

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

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

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

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

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

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

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

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

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

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Of Course Apple Is No Longer the World’s Most Valuable Company

Apple‘s terrible, horrible, no good, historically bad day on the markets Thursday has spilled over into Friday, with Apple ceding back to Exxon Mobil the title of the most valuable company in the world. On the second day following Apple’s latest earnings report, which led to a massive stock drop-off, the divide arrived again: As of midday, Apple’s market cap had faded to $ 414.49 billion, while Exxon’s stood strong at $ 417.18 billion. Apple had overtaken the oil giant for the title of earth’s most valuable company last August and maintained it until late Friday morning.

RELATED: Apple Finishes Ahead of Exxon: What It Means

The title, of course, is all relative, but you could see it coming after a week that left many talking about the end of an Apple bubble. Apple is stilling selling lots of things and growing in new markets, but Wall Street mostly cared about the company’s change in earnings guidance. So Apple now plans to surface more realistic expectations for its quarterly reports, rather than underplaying its expected revenues only to later blow them away. This may or may not be the beginning of the end of Apple’s top spot in worldwide worth — Exxon is booming again — but it’s still the biggest-ever company in America. But Microsoft, once the most valuable company of all time, is still doing pretty well, with a $ 233.66 billion market cap.

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Euro jumps ahead of ECB loan repayments

LONDON (Reuters) - The euro hit an 11-month high and European shares dipped on Friday as markets braced for news on how much banks will repay of the one trillion euros in European Central Bank crisis funds that have been keeping them afloat.

Data due showing whether Britain is heading for its third recession since the financial crisis began and on German business sentiment was also in the spotlight after upbeat manufacturing reports from the United States and China.

Estimates of the size of the banks' likely repayment of the cheap ECB money average around 100 billion euros according to a Reuters poll, although some analysts believe it could be as high as 300 billion as stronger banks try to show they are weaning themselves off of central bank life support.

"An initial repayment in excess of 100 billion euro would be a positive surprise for markets and likely supportive for risk assets," said Michael Symonds, a credit analyst at Daiwa Capital Markets.

Ahead of the announcement from the ECB due at 1100 GMT, the euro gained 0.3 percent to be above $1.34 to the dollar, its highest level since February last year. Against the yen, the single currency rose 0.5 percent to 121.48 yen, its highest level since April 2011.

In the equity market the broad FTSEurofirst 300 index <.fteu3> index of pan-European shares dipped to 0.1 percent to be just under 1,170 points, near its 22 month high. London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> were flat to 0.2 percent higher in early trade. <.l><.eu><.n/>

Earlier the MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> eased 0.5 percent, for a weekly drop of about 1 percent, its biggest loss in two months.

The falls came as tech-heavy markets such as South Korea and Taiwan weakened further following disappointing results from Apple this week, but were expected to be contained.

"The PMI indicators from the U.S., Europe and China should serve to keep markets tracking higher," said Tim Waterer, senior trader at CMC Markets in Sydney.

Manufacturing in China and the U.S. grew this month at the quickest pace in about two years, while data suggesting German growth picked up boosted hopes for a swifter euro zone recovery.

Brent crude held above $113, on track to post a second week of gains on the robust economic data, which has improved the outlook for fuel demand in the world's two largest oil consumers.

(Additional reporting by Marc Jones; editing by Philippa Fletcher)

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NASA Joins European Dark Energy Mission

NASA has officially joined the European Space Agency‘s Euclid mission, a space telescope that will launch in 2020 to study the mysterious dark matter and dark energy pervading the universe.

NASA will contribute 16 infrared detectors and four spares for one of the Euclid telescope’s two planned science instruments, agency officials announced today (Jan. 24). NASA has also nominated 40 new members for the Euclid Consortium, an international body of 1,000 scientists that will oversee the mission and its development.

“NASA is very proud to contribute to ESA’s mission to understand one of the greatest science mysteries of our time,” John Grunsfeld, associate administrator for NASA’s Science Mission Directorate, said in a statement.

Astronomers think the “normal” matter we can see and touch makes up just 4 percent of the universe. The rest is comprised of dark matter and dark energy — strange stuff whose existence scientists infer from its influence on the 4 percent.

Dark energy is especially intriguing, since many researchers believe it to be the strange force responsible for the accelerating expansion of the universe. But just what it is remains a mystery.

The Euclid mission hopes to shine some light into the universe’s darkest corners. After launching to a gravitationally stable spot called the sun-Earth Lagrange point 2, the 4,760-pound (2,160-kilogram) spacecraft will spend six years mapping and studying up to two billion galaxies throughout the universe.

Euclid’s observations of these galaxies and their distribution should allow astronomers to better understand how the universe’s acceleration has changed over time, revealing key insights about the nature of dark matter and dark energy, NASA officials said.

“ESA’s Euclid mission is designed to probe one of the most fundamental questions in modern cosmology, and we welcome NASA‘s contribution to this important endeavor, the most recent in a long history of cooperation in space science between our two agencies,” Alvaro Gimenez, ESA’s Director of Science and Robotic Exploration, said in a statement.

The Euclid mission is slated to cost ESA 606 million euros, or $ 810 million at current exchange rates. NASA is considering its own dark-energy mission, the roughly $ 1.5 billion Wide-field Infrared Survey Telescope. If it eventually gets the official go-ahead, WFIRST is unlikely to launch before 2025, agency officials have said.

Follow SPACE.com senior writer Mike Wall on Twitter @michaeldwall or SPACE.com @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.
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Shares dip as investors brace for euro zone data

LONDON (Reuters) - European shares weakened on Thursday as investors braced for the year's first reading on euro zone business activity for 2013 after data showed that France, the region's second-biggest economy, may be in recession.

Markets are hoping for a modest improvement in the estimates for manufacturing and service sector activity across the euro area for January, due later, to support the recent rallies in equities and peripheral European debt markets.

"January's flash PMI data (for France) signals a very disappointing start to 2013," said Jack Kennedy, senior economist at Markit, which compiles the purchasing managers' index (PMI) data.

Europe's FTSEurofirst 300 index <.fteu3> of top company shares fell 0.3 percent to 1,164.30 points after the French data was released, still not far from a peak of 1,170.29 points hit two weeks ago, a level not seen since early 2011.

London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> were down by up to 0.5 percent.

"All the major benchmarks are looking overbought, and any short-term correction will be seen as a buying opportunity, but the longer-term trend is still to the upside," said Jawaid Afsar, a sales trader at Securequity.

The euro fell 0.2 percent on the day to hit $1.3286 after Markit said its preliminary composite purchasing managers' index (PMI) for France, covering activity in the services and manufacturing sectors combined, came out at 42.7 for the month, down from 44.6 in December.

The common currency recovered slightly when German PMI data for January showed private-sector activity jumped to its highest level in a year.

APPLE BITES

The main European tech stock index <.sx8p> was down 0.85 percent after the world's largest technology company, Apple , released disappointing earnings figures after the U.S. markets had closed.

The results had earlier fanned earnings worries across the technology sector in Asia, overshadowing positive data on Chinese manufacturing activity.

China's HSBC flash purchasing managers' index (PMI) rose to 51.9 in January to a two-year high, signaling a rebound in manufacturing activity and confirming a recovery in growth in the world's second-largest economy was on track.

(Additional reporting by David Brett; Editing by Will Waterman)

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Close Encounter of Jupiter and Moon Wows Stargazers

A night sky meeting of Jupiter and the moon, called a conjunction, amazed skywatchers around the world last night (Jan. 21).

The waxing gibbous moon and Jupiter — the two brightest objects in last night’s sky — appeared to be almost touching for part of the night before the moon crept below and past the gas giant, continuing on in its orbit.

Judging by the reactions of SPACE.com readers, the celestial pairing was a hit. Skywatchers from all over the world sent in photos of the moon and Jupiter in their own back yards, but it wasn’t always easy to get the shot. [Gallery: Jupiter and the Moon Dazzle Stargazers]

“One of the most challenging things I’ve ever shot,” Greg Diesel Walck in North Carolina wrote in an email. “Had to strap my tripod onto a pole so that it could be tilted back so far and duck tape my zoom lens so it would stay fully zoomed!  Also a very windy night as a cold front moves into N.C. making for tricky long exposures.”

Weather was an issue for some observers, too.

“Snow flurries were rushing in from the northwest, so I had to wait to get shots between the clouds,” Eric Teske of Bowling Green, Ohio wrote to SPACE.com. “When the clouds parted, I was able to grab two photos for a clean composite. I was out for about 20 minutes total and couldn’t feel my fingers as I was packing up my gear and rushing back into my apartment!”

Some readers were caught by surprise when they looked up at the sky last night.

“I just went outside tonight to take a look at the stars,” wrote Barbara Ash of Ridgecrest, Calif., “and saw an object in conjunction with the moon. I ran back in and grabbed my tripod and camera, and took some amateur shots.”

And the sight wowed beyond North America, too.

“Partly cloudy evening and night here in central Italy, but the conjunction show was still captivating,” Giuseppe Petricca wrote.

“They are close!” Christiane Lisboa wrote from Brazil.

In case you missed it, yesterday’s conjunction won’t be the last time Jupiter and the moon have a seemingly close encounter. On March 17, the two heavenly bodies will appear in the same part of the sky again.

Editor’s Note: If you took a photo of last night’s close conjunction of the moon and Jupiter that you’d like to share with SPACE.com for a possible story or gallery, please send it, along with your comments, to [email protected]

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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European shares edge up as economic sentiment improves

LONDON (Reuters) - European stocks edged toward 22 month highs on Wednesday, driven by upbeat corporate earnings, an easing in fears about the U.S. hitting its debt ceiling and a better outlook for the global economy.

Strong investor confidence data from Germany, Japan's plans to shore up the world's third largest economy, and improving economic numbers this month from the world's top two economies, the U.S. and China, have all cheered investors.

European Central Bank chief Mario Draghi added his weight to the brighter outlook saying, in a speech in Frankfurt, that "the darkest clouds over the euro area subsided" in 2012.

"The sense of panic experienced in the financial system at times over the last few years looks unlikely to return," said Nick Kounis, head of macro economic research at ABN AMRO.

"We expect global growth to improve gradually this year before gaining strength next year," he said.

After a rally on Wall Street, which saw the widely watched Standard & Poor's 500 index <.spx> hit a fresh five-year closing high, Europe's main share markets all opened higher.

The FTSE Eurofirst 300 index <.fteu3> of top European shares rose 0.1 percent to 1,166.83 While London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> open as much as 0.3 percent higher.

Earnings from likes of tech firms Google and IBM were supporting the gains along with news that BHP Billiton , the world's biggest mining company, had boosted its iron ore output in the December quarter.

However, a slight retreat in Asian shares after they had hit 17-1/2 month highs left the MSCI world equity index <.miwd00000pus> just below the fresh 20-month peak of 352.54 hit on Tuesday.

In the debt market German Bund futures edged higher at Wednesday's open however traders said the gains were unlikely to be sustained with investors still upbeat about higher-yielding euro zone bonds.

Yields fell across the euro zone debt market on Tuesday after Spain sold a new 10-year bond that drew massive demand from foreign investors.

Sentiment is also expected to improve as Republican leaders in the U.S. House of Representatives said they aim to pass on Wednesday a nearly four-month extension of the U.S. debt limit to May 19.

Meanwhile the yen held firm against the dollar and the euro as monetary easing announced on Tuesday by the Bank of Japan failed to provide an immediate a stimulus as some had hoped.

The BOJ doubled its inflation target to 2 percent and adopted an open-ended commitment to buy assets starting in 2014, sparking an unwinding of yen short positions from speculators looking for more immediate easing steps.

The dollar fell 0.4 percent to 88.30 yen while the euro slid 0.8 percent to 117.42 yen. The dollar hit a 2-1/2-year high of 90.25 yen on Monday.

(Reporting by Richard Hubbard. Editing by Peter Graff)

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The President Says He’ll Act on Climate Change. Does He Mean It This Time?

With just a few sentences in his second inaugural address, President Obama gave a big jolt of encouragement to environmentalists that he would vigorously pursue climate change initiatives in his second term.

After pledging to continue to fix the economy, the President quickly pivoted to global warming:

“We, the people, still believe that our obligations as Americans are not just to ourselves, but to all posterity. We will respond to the threat of climate change, knowing that the failure to do so would betray our children and future generations.

“Some may still deny the overwhelming judgment of science, but none can avoid the devastating impact of raging fires, and crippling drought, and more powerful storms. The path towards sustainable energy sources will be long and sometimes difficult. But American cannot resist this transition. We must lead it.”

The President’s words were backed by his Veep’s, when on Saturday night at the Green Ball, Joe Biden said, “I’ll tell you what my green dream is: that we finally face up to climate change…I don’t intend on ending this four years without getting an awful lot more done. Keep the faith.”

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

Though there were a variety of accomplishments on the environmental front during the President’s first term—the massive stimulus plan passed in the early days of the President’s first term contained $ 90 million for green technologies, CAFÉ standards for fuel efficiency were elevated to new heights, and the EPA began squeezing air quality standards to reduce the use of coal—the green community certainly shouldn’t have expected the President’s very firm, very public defense of taking action on climate.

Hopefully that all changed yesterday. Andy Revkin suggested in his New York Times Dot Earth blog that the speech was “presumably a sketch of what’s to come in the State of the Union message and policy initiatives this year.” Which means that come February 12, he’ll ask for the bucks to support his big talk.

Those hopes center on things like clamping down on further emissions from coal-burning power plants, new energy efficiency standards for both homes and offices, and a big push for more fuel efficient cars. It also includes caps on carbon and, somewhat controversially, an expanded push for more natural gas.

What about Keystone XL, the controversial pipeline running from Canada to refineries in the Gulf Coast? Now that he’s not facing reelection, Obama may very well decide it’s not necessary.

Heads of the big three environmental groups, post-inauguration, were effusive with their support:

“This is a call to action against the climate chaos that is sweeping our nation and threatening our future,” said Frances Beinecke, president of the Natural Resources Defense Council.

“We at EDF share the sense of urgency President Obama described,” Fred Krupp, President of Environmental Defense Fund. “We are fully focused on working with him and many others to achieve climate security and American clean energy innovation.”

“We will work tirelessly to ensure the transition to safe, clean energy sources to fight the most pressing challenge of our time,” said Sierra Club director Michael Brune.

The opposition was quick to chime in as well.

Tim Phillips, president of Americans for Prosperity, a group financed by the Koch brothers, who have made a fortune in refining and other oil interests, was not convinced. “His address reads like a liberal laundry list with global warming at the top,” Phillips said. “Americans have rejected environmental extremism in the past and they will again.”

The fact is that the Presdient put the words “climate” and “change” back to back in his inaugural was largely thanks to an act of nature. Without Superstorm Sandy as supportive evidence, President Obama’s call for a new focus on climate change, may have fallen way down his list of priorities.

One key ingredient to all of this may be the President’s choice  to lead the Environmental Protection Agency (director Lisa Jackson stepped down in December). Best guesses are that he will appoint former Washington Governor Chris Gregoire, who, according to some bloggers, has a mixed record on the environment.

One clue to the President’s next steps on climate change may have been presaged by Washington Post writer Brad Plummer, who reminds us:

“A week after he won the 2008 presidential election, Barack Obama addressed a gathering of governors and other officials in Los Angeles, assuring them that global warming would be a top priority for his first term. “Now is the time to confront this challenge once and for all. Delay is not an option.”

Here’s to hoping that, vis-a-vis climate change, a second-term President Obama bears no resemblance to a first-term President Obama.

---

Do you think President Obama will put the weight of his Presidency behind meaningful climate change initiatives in his second term, like cap and trade or a carbon tax? Tell us in the comments below.

Related Stories on TakePart:

• Is Arctic Drilling Just One Mistake From Disaster?

• The Chesapeake Bay Is a Polluted Mess: Are Chickens to Blame?

• Ocean Horror Show: Dead Sea Birds With Bellies Full of Plastic Garbage

---

A six-time grantee of the National Geographic Expeditions Council, Jon Bowermaster has spent the past two decades circling the world’s ocean, studying both its health and the lives of the people who depend on it. He is the author of 11 books (his most recent, OCEANS, Threats to Our Seas and What You Can Do to Turn the Tide, was published by Participant Media) and producer of a dozen documentary films. His blog—Notes From Sea Level—reports daily on issues impacting the ocean and us. Follow Jon on Facebook. @jonbowermaster  |  Email Jon | TakePart.com

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Shares hit 20-month high as Japan promises open-ended easing

LONDON (Reuters) - World shares hit a new 20-month high on Tuesday after Japan's central bank promised to pump unlimited stimulus into the country's economy to fight the threat of deflation and generate growth.

The Bank of Japan, which has been under intense political pressure to overcome deflation, hiked its inflation target to 2 percent and said that from 2014 it would adopt an open-ended commitment to buy assets.

The move surprised markets, which had expected another incremental increase in its 101 trillion yen ($1.12 trillion) asset-buying and lending program, though the delay until the easing measures kick in dulled the impact and saw the yen edge higher against the dollar.

"From 2014 onwards it's positive ... (but) from now until then, they are not doing anything more aggressive to weaken the yen," said Roy Teo, an FX strategist for ABN Amro.

Equity markets, particularly in Japan, have risen strongly in the run up to Tuesday's meeting, and the confirmation of the plans was enough to lift the MSCI world index <.miwd00000pus> 0.15 percent to a fresh 20-month high of 352.54.

European shares, which have been testing two-year highs in recent days, saw a more subdued start as investors awaited a cue from U.S. corporate earnings figures later in the day.

London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> opened between flat and down 0.1 percent, leaving the FTSEurofirst 300 <.fteu3> down 0.1 percent.

Brent crude rose 0.3 percent to $112.07 a barrel, and gold was up 0.2 percent as the BOJ's latest easing action added to recent positive data from the United States and China, while growing confidence in the strength of China's economic recovery pushed London copper up 0.7 percent to $8,111.75 a metric ton.

General market sentiment was also supported by signs of a compromise to avert a U.S. fiscal crisis.

Republican leaders in the U.S. House of Representatives have scheduled a vote on Wednesday on a nearly four-month extension of U.S. borrowing capacity, aimed at avoiding a fight over the looming federal debt ceiling.

In the European bond market, Bund futures were steady as investors eyed a new 10-year Spanish bond and waited on the ZEW investor sentiment index due at 1000 GMT for the latest gauge on the health of the euro zone's largest economy, Germany.

(Reporting by Marc Jones; Editing by Will Waterman)

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Temple Run 2 surpasses 20 million downloads on iOS in four days

Imangi Studios, the creators of the hit game Temple Run, released a sequel to its popular Indiana Jones-esque runner game on Apple’s (AAPL) App Store last week. Temple Run 2 features the same gameplay as its predecessor, however it includes a new environment, better graphics and performance, and more powerups and achievements. The game has been well received by iOS users, currently holding a four star rating, and has been downloaded more than 20 million times, six million within the first 24 hour, in just four days. For context, Angry Birds Space was downloaded 10 million times in less than three days across multiple operating systems. Imangi’s original game has been downloaded more than 170 million times on Android and iOS. Temple Run 2 is available now on the App Store and is slated to arrive on Android this week.

[More from BGR: BlackBerry 10 OS walkthrough, BlackBerry Z10 pricing]

This article was originally published on BGR.com

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

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

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

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

London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> opened between 0.4 and 0.5 percent higher, lifting the pan-European FTSEurofirst 300 0.3 percent and MSCI's world index 0.1 percent. <.l><.eu/>

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

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

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

The dollar slipped back to a low of 89.42 yen and was last trading at 89.57 yen, while the euro also fell to a low of 119.08 and last traded at 119.27 yen.

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

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

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

U.S. crude futures fell 0.5 percent to $95.08 a barrel, while Brent fell 0.3 percent to $111.55 early on Monday but had recovered to almost flat as European trading gathered pace.

(Additional reporting by Sudip Kar-Gupta; Editing by Will Waterman)

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UK scientists to mimic plants to make zero-carbon fuel

LONDON (Reuters) – British scientists seeking to tap more efficient forms of solar power are exploring how to mimic the way plants transform sunlight into energy and produce hydrogen to fuel vehicles.

They will join other researchers around the world studying artificial photosynthesis as governments seek to cut greenhouse gas emissions from fossil fuels.

The research will use synthetic biology to replicate the process by which plants concentrate solar energy to split water into hydrogen and oxygen, which is then released into the atmosphere.

“We will build a system for artificial photosynthesis by placing tiny solar panels on microbes,” said lead researcher Julea Butt at the University of East Anglia (UEA).

“These will harness sunlight and drive the production of hydrogen, from which the technologies to release energy on demand are well-advanced.”

Hydrogen is a zero-emission fuel which can power vehicles or be transformed into electricity.

“We imagine that our photocatalysts will prove versatile and that with slight modification they will be able to harness solar energy for the manufacture of carbon-based fuels, drugs and fine chemicals,” she added.

The 800,000 pound project will be undertaken by scientists from UEA and Cambridge and Leeds universities.

The scientists believe copying photosynthesis could be more efficient in harnessing the sun’s energy than existing solar converters.

CUTTING CO2

Many countries have deployed at least one kind of renewable energy, such as solar, wind power or biofuels, or use a mixture to see which becomes most competitive with fossil fuels.

But as carbon dioxide emissions continue to rise, some experts argue more extreme methods are needed to keep the average rise in global temperatures below 2 degrees Celsius this century, a threshold scientists say would avoid the most harmful effects of climate change.

“Many renewable energy supplies, such as sunlight, wind and the waves, remain largely untapped resources. This is mainly due to the challenges that exist in converting these energy forms into fuels from which energy can be released on demand,” said Butt.

Some of the more extreme methods which are being studied are controversial, such as removing large amounts of carbon dioxide from the atmosphere and geo-engineering techniques such as blocking sunlight using artificial clouds or mirrors in space.

Such technology is far from being employed on a large scale and the costs are enormous.

Critics argue these techniques manipulate the climate, are too costly, take too long to prove and governments should concentrate on more mainstream renewable energy sources.

Last year, British scientists abandoned a 1.6 million pound experiment to test the possibility of spraying particles into the upper atmosphere to stem global warming.

(Editing by David Cowell)

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

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

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

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

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

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

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

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

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

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

CASH POURING IN, HOUSING DATA COULD HELP

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

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

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

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

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

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

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

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

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

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

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

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

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

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Latest Inaugural Forecast: Bit Warmer Than in 2009

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

It’s shaping up as a close call.

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

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

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

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

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

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

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

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

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

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

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

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

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

———

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

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

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

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

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

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

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

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

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

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

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

CASH POURING IN, HOUSING DATA COULD HELP

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

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

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

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

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

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

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

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

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

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

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

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

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

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Daddy’s Sexism May Influence Daughter’s Ambitions

NEW ORLEANS — Dads who have egalitarian ideas about gender — and who walk the talk by doing household chores themselves — have daughters with higher workplace ambitions than less egalitarian fathers do, new research finds.

The research is correlational, so it doesn’t prove that fathers’ attitudes are the cause their young daughters’ work aspirations. But the research may suggest that girls look to their fathers for examples of what is expected of women. Dads’ attitudes also predict what kind of play their daughters enjoy.

“Dads who are more balanced have girls who are just as likely to play with Transformers as Barbie dolls,” study researcher Toni Schmader, a psychologist at the University of British Columbia said here Friday (Jan. 18) at the annual meeting of the Society for Personality and Social Psychology.

Male and female role models

Schmader and her colleagues were interested in how gender stereotypes develop at a young age. To find out, they gave questionnaires to 196 elementary-school-age boys, 167 elementary-school-age girls and at least one parent of each asking about gender stereotypes, gendered behavior and, for parents, division of household labor.

They found that women, even those who work outside the home, shouldered more of the housework burden than men. This pattern has been seen in numerous sociology and psychology studies and is so prevalent that is has a name: “the second shift,” meaning that women essentially put in a full day at work and then another on top of it at home.

The researchers also found that women influence their kids about gender stereotypes. A mom’s attitude about the proper roles of men and women is almost always echoed by their kids.

But in the realm of actual behavior, dads are key. The fewer gender stereotypes dad holds, the more likely his daughter is to say she wants to work outside the home as an adult. The daughters of egalitarian men are also more likely to have broader, less gendered interests — they’re less hemmed in by stereotypes that say girls should only play house or dress in pink. They’re equally likely to play with “boy” toys versus “girl” toys, Schmader said. [Busted! 6 Gender Myths in the Bedroom & Beyond]

Dads’ behavior mattered too. The more equally dad and mom divided household work, the less stereotypically girly their daughter’s behavior.

Parents and stereotypes

The researchers aren’t sure why boys didn’t respond in the same way as girls to their fathers’ attitudes. It’s possible that boys just don’t see enough variation in stereotypically masculine behavior, or that their own behavior doesn’t waver from stereotypes enough to register statistically, Schmader said.

Nor is it entirely clear why dads seem to hold so much sway over their daughters’ gendered behaviors and aspirations while moms aren’t as influential. The reason could be that dads still are seen as having a higher status in the household, so girls weigh their opinions more heavily, Schmader told LiveScience. It’s also possible that girls see dad as a sort of role model for the type of partner they may end up with one day.

“Not role models for who they can be, but role models for who they could be with,” she said. Thus, girls may learn what’s expected of a woman in a relationship from their father.

Schmader warned that more work is needed to prove that the fathers’ attitudes cause their daughter’s actions. It’s possible, she said, that having a girl who defies gender stereotypes alters dad’s perceptions of proper gender roles rather than the other way around.

Follow Stephanie Pappas on Twitter @sipappas or LiveScience @livescience. We’re also on Facebook & Google+.

Copyright 2013 LiveScience, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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Chinese, U.S. data push global shares to twenty-month high

LONDON (Reuters) - World shares hit a 20-month high on Friday as encouraging data from the United States and China boosted prospects for the global economy, while the yen hit new lows ahead of next week's Bank of Japan meeting.

China's economy grew at a slightly faster-than-expected 7.9 percent in the fourth quarter of 2012, the latest sign it is pulling out of a post-global financial crisis slowdown that produced its weakest year of economic growth since 1999.

The positive news came on top of strong U.S. labor and housing market reports on Thursday, providing fresh impetus to a recent strong and broad financial market rally.

MSCI's index of leading world shares <.miwd00000pus> was at it highest level since May 2011 at 551.90 points as trading got underway in Europe and after Tokyo and Hong Kong stock markets surged and the S&P 500 in New York hit a five-year high.

"We've got good numbers out of China, we had some good numbers out of U.S. yesterday ... The general sentiment is pretty good," said Neil Marsh, strategist at Newedge.

"There will probably be some phases of consolidation as we go forward, but the markets remain pretty resilient. More people are putting their cash to work now in riskier assets like equities, and there is no sign of that stopping at the minute."

European stocks opened higher, with London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> up between 0.2 and 0.3 percent <.l><.eu><.n>. The region's data highlight of the day comes from British retail figures.

Industrial commodities jumped, leaving platinum and palladium near multi-month highs hit on Thursday, while oil prices edged up, with U.S. crude up 0.1 percent at $95.61 a barrel and Brent futures adding 0.2 percent to $111.27.

YEN SLIDE RESUMES

The strong U.S. data and mounting expectations for more aggressive easing by the Bank of Japan (BOJ) next week lifted the dollar to its highest since June 2010 of 90.21 yen, and the euro to its peak since May 2011 of 120.73 yen.

The single currency was steady against the dollar at $1.3378.

Expectations that the new Japanese government will pursue massive fiscal spending and push for more aggressive BOJ easing to drive Japan out of years of deflation and economic slump have spurred heavy yen selling since November.

Sources told Reuters the BOJ will at its January 21-22 meeting consider removing the 0.1 percent floor on short-term interest rates and commit to open-ended asset buying until the 2 percent inflation target is reached.

In bond markets, German two-year government bond yields rose 0.25 percent to near their highest in nearly 10 months, with traders citing growing concerns in money markets over early bank repayments of three-year European Central Bank loans.

Banks can start making repayments on January 30, and the ECB will publish how much will be repaid then on January 25. A larger-than-expected repayment of around 400 billion euros would effectively tighten conditions and push up interbank rates.

(Reporting by Marc Jones; Editing by Will Waterman)

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Interior Secretary Ken Salazar leaving Cabinet

WASHINGTON (AP) — Interior Secretary Ken Salazar, who oversaw a moratorium on offshore drilling after the BP oil spill and promoted alternative energy sources throughout the nation, will step down in March.

Salazar, a former Colorado senator, has run the Interior Department throughout President Barack Obama‘s first term and pushed renewable power such as solar and wind and the settlement of a longstanding dispute with American Indians.

In a statement, Obama said Salazar had helped “usher in a new era of conservation for our nation’s land, water and wildlife” and had played a major role in efforts to “expand responsible development of our nation’s domestic energy resources.”

Salazar said in a statement that the Interior Department was helping secure “a new energy frontier” and cited an aggressive agenda to reform oil and gas leases, which he said had increased offshore drilling safety.

Under his watch, the Interior Department has authorized nearly three dozen solar, wind and geothermal energy projects on public lands that provide enough electricity to power more than 3 million homes, Salazar said.

Washington Gov. Chris Gregoire, a longtime Obama ally, is among those mentioned as a potential successor to Salazar, along with John Berry, director of the White House Office of Personnel Management. Berry is a former assistant Interior secretary and director of the National Zoo. Gregoire, whose term expires Wednesday, also is considered a candidate to replace Lisa Jackson at the Environmental Protection Agency.

Salazar, 57, entered the Senate with Obama in 2005. At Interior, he gained the most attention for his role in the drilling moratorium, a key part of the administration‘s response to the April 2010 explosion of the Deepwater Horizon rig in the Gulf of Mexico. It was one of the largest environmental disasters in U.S. history and led to the unprecedented shutdown of offshore drilling.

Business groups and Gulf Coast political leaders said the shutdown crippled the oil and gas industry and cost thousands of jobs, even aboard rigs not operated by BP PLC.

But Salazar said the industry-wide moratorium was the correct call and that his ultimate goal was to allow deepwater operations to resume safely. He acknowledged that the drilling ban caused hardship, but he said his job was to protect the public and the environment even as the administration tried to boost domestic energy production.

The moratorium was lifted in October 2010, although offshore drilling operations did not begin for several more months. Some Gulf Coast lawmakers continue to complain about the slow pace of drilling permits under the Interior Department, which renamed and revamped the agency that oversees offshore drilling in the wake of the spill.

Salazar also approved the nation’s first offshore wind farm, Cape Wind, off the Massachusetts coast.

On land, Salazar has promoted solar power in the West and Southwest, approving an unprecedented number of projects, even as oil and gas continue to be approved on federal land.

Salazar also oversaw the settlement of a multibillion dispute with Native American tribes that had lingered for more than a decade.

Throughout his tenure, Salazar tangled with oil companies.

“We don’t believe we ought to be drilling anywhere and everywhere,” Salazar said in 2010, before the BP spill. “We believe we need a balanced approach and a thoughtful approach” that allows development of oil and gas leases on public lands while also protecting national parks, endangered species and municipal watersheds.

Salazar criticized the Bush administration for what he called a “headlong rush” to lease public lands. Early in his tenure, Salazar suspended 60 of 77 leases in Utah that had been approved by the Bush administration.

“In the prior administration the oil and gas industry were the kings of the world. Whatever they wanted to happen, happened,” Salazar said in January 2010, adding that those days were over.

Salazar is the latest Cabinet secretary to leave the administration and the second Hispanic Cabinet member to depart as Obama begins a second term. Labor Secretary Hilda Solis said announced her departure last week.

Secretary of State Hillary Rodham Clinton, Pentagon chief Leon Panetta, Treasury Secretary Timothy Geithner and EPA’s Jackson also have announced plans to leave. Energy Secretary Steven Chu is widely expected to leave, though his departure has not been announced.

___

Associated Press writers Julie Pace and Ken Thomas contributed to this report.

Energy News Headlines – Yahoo! News

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