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

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

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

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

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

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

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


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


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


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


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


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


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


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


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


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


(Editing by Chizu Nomiyama)

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Jim, John Harbaugh ready for rematch at Super Bowl


SANTA CLARA, Calif. (AP) — Jim and John Harbaugh have exchanged a handful of text messages, and plan to leave it at that. No phone conversations necessary while the season's still going. No time for pleasantries, even for the friendly siblings.


There is work to be done to prepare for the Super Bowl, prepare for each other, prepare for a history-making day already being widely hyped as "Harbowl" or "Superbaugh" depending which nickname you prefer.


"It doesn't matter who the coach is, what relationship you have with the person on the other side," 49ers coach Jim Harbaugh said so matter-of-factly Monday afternoon.


Their parents sure aren't picking sides for the Feb. 3 matchup in New Orleans.


These days, the Harbaughs' longtime coaching father, Jack, stays away from game-planning chatter or strategy sessions with his Super Bowl-bound coaching sons. Baltimore's John Harbaugh and little brother Jim have been doing this long enough now to no longer need dad's input.


Yet, they still regularly seek it. And, their father does offer one basic mantra: "Get ahead, stay ahead."


"Probably the greatest advice that I've ever been given and the only advice that I've ever found to be true in all of coaching, I think we mentioned it to both John and Jim ... the coaching advice is, 'Get ahead, stay ahead,'" Jack Harbaugh said.


"If I'm called upon, I'll repeat that same message."


His boys still call home regularly to check in with the man who turned both on to the coaching profession years ago, and the mother who has handled everything behind the scenes for decades in a highly competitive, sports-crazed family — with all the routine sports clichés to show for it.


The Harbaugh brothers will become the first siblings to square off from opposite sidelines when their teams play for the NFL championship at the Superdome.


Not that they're too keen on playing up the storyline that has no chance of going away as hard as they try.


"Well, I think it's a blessing and a curse," Jim Harbaugh said Monday. "A blessing because that is my brother's team. And, also, personally I played for the Ravens. Great respect for their organization. ... The curse part would be the talk of two brothers playing in the Super Bowl and what that takes away from the players that are in the game. Every moment that you're talking about myself or John, that's less time that the players are going to be talked about."


Both men love history, just not the kind with them making it.


"I like reading a lot of history ... I guess it's pretty neat," John Harbaugh offered Monday. "But is it really going to be written about? It's not exactly like Churchill and Roosevelt or anything. It's pretty cool, but that's as far as it goes."


Nice try, guys.


John watched the end of Jim's game from the field in Foxborough, Mass., as Baltimore warmed up for the AFC championship game. Jim called his sister's family from the team plane before takeoff after a win at Atlanta and asked how his big brother's team was doing against New England.


The improbable Super Bowl features a set of brothers known around the NFL as fierce competitors unafraid to make a bold move during the season. Unafraid to upset anyone who stands in their way.


In fact, each one made a major change midseason to get this far — John fired his offensive coordinator, while Jim boosted his offense with a quarterback switch from Alex Smith to Colin Kaepernick.


Leading up to Sunday's games, parents Jack and Jackie said they would wait to decide whether to travel to New Orleans if both teams advanced or stick to what has been working so well — watching from the comfort of their couch in Mequon, Wis.


"We enjoy it very much. We get down in our basement, turn on the television and just have a fantastic day watching outstanding football," Jack said last week. "We share our misery with no one but ourselves. Not only the misery, but the ups and downs, the ins and outs of an outstanding professional game."


And, no, the Harbaughs weren't looking ahead to a potential big trip to the Big Easy.


Jack insists his wife is quick to pull out that old sports cliche: "It's one game at a time. I think it's very appropriate," he said.


Jim figures they won't possibly miss this history-making game.


"I think they'll be there," he said with a smile.


The brothers, separated in age by 15 months, have taken different paths to football's biggest stage — years after their intense games of knee football at the family home. They tried to beat each other at cards, or whatever other game it was at the time. Sometimes, they tried to beat each other up. Sister, Joani Crean, often got in on the fun, too.


The 49-year-old Jim never reached a Super Bowl, falling a last-gasp pass short during a 15-year NFL career as a quarterback. The 50-year-old John never played in the NFL.


Still, both will tell you, "Who's got it better than us? No-body!" — one catchphrase they got from their dad.


"We can't put into words what it means to see John and Jim achieve this incredible milestone," their brother-in-law, Indiana basketball coach Tom Crean, said on Twitter. "We talked to Jim (before) his team plane left. All he wanted to know was how was John doing? How were they playing? One incredible family who puts the care, well-being and love for each other at the forefront like most families do. Again, we are very proud of them. Going to be exciting to watch it unfold."


John worked his way up from the bottom of the coaching ranks, while Jim was the star college quarterback at Michigan, a first-round draft pick and eventual Pro Bowler who made coaching his career once he retired.


John already has the one-up, while Jim's team is the early favorite. John's Ravens beat the 49ers 16-6 on Thanksgiving night 2011, in Jim's rookie season as an NFL coach — though both know that means nothing now.


"I just want everybody to know, that was a four-day deal and every story has been told," John said. "We're not that interesting. There's nothing more to learn. The tape across the middle of the room story, OK, you got it? It's OK. It was just like any other family, really. I really hope the focus is not so much on that. We get it, it's really cool and it's exciting and all that."


Said Jim, "Completely new business."


In spite of his efforts to avoid the topic, Jim did take the opportunity to express how proud he is of John.


"He's a great football coach, a real grasp of all phases — offense, defense, special teams. I think he could coordinate at least two of those phases and do it as well as anyone in the league," Jim said. "I've got half the amount of coaching experience he does. Again, it's not about us. I keep coming back to that. I'm really proud of my brother. I love him. That's the blessing part, that this is happening to him."


And, fittingly for the big brother, John feels the exact same way.


___


AP Sports Writer Dave Ginsburg in Baltimore contributed to this story.


___


Online: http://pro32.ap.org/poll and http://twitter.com/AP_NFL


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NASA’s Planet-Hunting Kepler Telescope Stalled by Glitch






NASA’s prolific planet-hunting Kepler space telescope has been placed in a precautionary “safe mode” after engineers noticed a problem with the instrument’s orientation mechanism.


The Kepler telescope went into safe mode on Jan. 17 for a planned 10 days, during which time the telescope’s reaction wheels — spinning devices used by the observatory to maintain its position in space —will be rested. The move comes after researchers detected an unexpected increase in the amount of torque needed to rotate one of the wheels, mission officials said.






“Resting the wheels provides an opportunity to redistribute internal lubricant, potentially returning the friction to normal levels,” Kepler officials wrote in a Jan. 17 mission update.


Kepler will not make any new science observations for its search for alien planets while in safe mode, team members said.


“Once the 10-day rest period ends, the team will recover the spacecraft from this resting safe mode and return to science operations,” Kepler officials wrote. “That is expected to take approximately three days. An update will be posted after the wheel rest operation is complete.” [Gallery: A World of Kepler Planets]


When the Kepler spacecraft launched in March 2009, it had four functional reaction wheels — three for immediate use, plus one spare. The wheels help the telescope keep its precise aim at more than 150,000 target stars, which it monitors for the presence of orbiting exoplanets. 


One of the wheels failed last July. Since the spacecraft needs three functioning reaction wheels to work properly, another failure could potentially end the $ 600 million Kepler mission.


Kepler detects alien planets by flagging the telltale brightness dips caused when they cross the face of their parent stars from the instrument’s perspective. Kepler generally needs to witness three such “transits” to identify a planetary candidate.


The telescope has already spotted more than 2,700 potential planets, including a number in their host stars’ habitable zones — that range of distances that could support liquid water on a world’s surface. To date, just 105 of these candidates have been confirmed, but mission scientists think at least 90 percent should end up being the real deal.


If the three remaining reaction wheels keep spinning normally and Kepler doesn’t suffer any other major issues, it could keep scanning its patch of sky for several more years to come. Last year, NASA announced that it had extended the mission through at least 2016.


Kepler’s main mission is to find Earth-size planets in the habitable zone. The longer it runs, the more such worlds it will find.


Because of the three-transit requirement, most of the planets Kepler has found so far zip around their stars relatively quickly, in close-in orbits.


With more time, the instrument will be able to discover more exoplanets in relatively distant orbits, allowing Kepler to survey the habitable zones of warmer stars. (It could take a hypothetical alien version of Kepler up to three years, after all, to see Earth transit the sun three times.)


Witnessing more transits will also increase the signal-to-noise ratio, enabling more relatively small planets to be detected, researchers 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.
Space and Astronomy News Headlines – Yahoo! News





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Defterios: What keeps Davos relevant






STORY HIGHLIGHTS


  • Since the late 20th Century, the ski resort of Davos has been synonymous with the World Economic Forum

  • Defterios: I first came to Davos as a relatively junior correspondent, two months after the Berlin Wall fell

  • Fall of Communism, China's opening, removal of apartheid in South Africa unfolded in the 90s


  • It's the inter-play between geo-politics and business is what keeps the forum relevant




Davos (CNN) -- Veterans of Davos often refer to nature's awe-inspiring work as the Magic Mountain.


The name comes from an early 20th century novel by Thomas Mann -- reflecting on life in an alpine health retreat, and the mystery of time in this breath-taking setting.


Read more from John Defterios: Why Egypt's transition is so painful


Since the late 20th century, this ski resort has been synonymous with the World Economic Forum, which represents networking on its grandest scale.


This year nearly 40 world leaders -- a record for this annual meeting -- 2000 plus executives and it seems an equal number of people in the media, like yours truly, are in pursuit of them all. The setting is certainly more chaotic then a decade ago. The agendas of the Fortune 500 chief executives are to filled with bi-lateral meetings and back door briefings to allow for the spontaneity that made this venue unique.











Davos gets ready for leaders' gathering








HIDE CAPTION









I first came to Davos as a relatively junior correspondent in 1990, two months after the fall of the Berlin Wall. It was arguably then, after nearly two decades in the conference business, when the forum became a fixture on the global calendar.


Quest: U.S. economy to dominate Davos 2013


I can remember, quite vividly, working out of a bunker (like we do today) in the Davos Congress Centre. West German Chancellor Helmut Kohl sat side-by-side with his East German counterpart Hans Modrow. That meeting before the global community helped set the stage for monetary union, a huge unification fund for what became Eastern Germany and shortly thereafter German elections.


The early 90s at Davos were dominated by European reconstruction after the fall of communism. Former party bosses came to the forum to convince business leaders that a transition to market economics could be delivered. Boris Yeltsin made his Davos appearance during that chaotic transition from the USSR to today's Russia.


Davos 2013: New year, same old problems?


In 1992, Chinese Premier Li Peng used the setting here in the Alps to articulate plans for the country's economic opening up to the world. Not by chance, the architect of Washington's engagement with Beijing, the former U.S. Secretary of State Henry Kissinger also took a high profile that year.



Again only two years later in 1994, Yasser Arafat and Shimon Peres walked hand in hand on stage, holding a public dialogue leading up to the creation and recognition of the Palestinian Authority.


The World Economic Forum, as the saying goes, was positioned to be in the right place at the right time. While the author of the Magic Mountain talked about the complexity of time around World War I, in the 1990s time was compressed here.


The fall of communism, the lowering of global trade barriers, the opening up of China, the removal of apartheid in South Africa and the proliferation of the internet all unfolded in that decade.


Interactive: How's your economic mood?


As those events came together, so too did the major players as they made the journey to Davos. Michael Bloomberg, evolving as a global name in financial data and now the Mayor of New York City, sat alongside Microsoft CEO Bill Gates. U.S. President Bill Clinton outlined his party's historic move to the political center before a packed audience of global business executives.


To spice things up, rock stars and actors, as they became activists, chose the Davos platform: Bono, Richard Gere, Sharon Stone, Brad and Angelina would have the wealthiest and most powerful corporate titans freeze in their tracks.


Earlier this week, I walked into the main plenary hall as workers put the final touches on the stage and lighting. It is a venue which has welcomed countless political leaders and business executives, during internet booms and banking busts, in the midst of a Middle East crisis and even during the lead up to two Gulf Wars.


But that inter-play between geo-politics and business -- during the best and worst of times -- is what keeps the forum relevant. It allows this setting at the base of the Magic Mountain to endure and recreate something unique during what Mann rightly described as the ongoing complexity of our times.







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Single-digit freeze continues; wind chills at dangerous levels









Brace yourself, and bundle up.


After a night when temperatures dipped to the low single digits, "they're not going to move a whole lot today," said Mark Ratzer, a meteorologist with the National Weather Service in Romeoville.


Temperatures may not break 10 degrees today, Ratzer says, and if they do, it won't be by more than a degree or two.





A wind chill advisory issued Monday remains in effect until 10 a.m. this morning.


If there's good news, it's that the wind won't be quite as strong as it was Monday, when wind chill values plummeted into the negative teens.


And fortunately, it won't be as cold as it was on Jan. 22, 1936, the day a low temperature of 17 degrees below zero set Chicago's all-time record.


That's about where the good news stops. The cold will linger for several days, and temperatures are not expected to top 32 degrees until early next week, Ratzer said.


The overnight low of 4 degrees was the coldest since Feb. 10, 2011, when aided by a heavy snow cover, temperatures dipped to 9 below zero.


Over a 30-year period, the average temperature high for Jan. 22 is 31 degrees, and the average low is 16.


Authorities reported no overnight deaths from the cold, though today's temperatures remain dangerous for anyone spending prolonged periods outdoors.


At least seven people in Cook County have already died from causes related to the cold this season.


asege@tribune.com


Twitter: @AdamSege






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Israel goes to polls, set to re-elect Netanyahu


JERUSALEM (Reuters) - Israelis voted on Tuesday in an election that is expected to see Prime Minister Benjamin Netanyahu win a third term in office, pushing the Jewish state further to the right, away from peace with the Palestinians and towards a showdown with Iran.


However, Netanyahu's own Likud party, running alongside the ultra-nationalist Yisrael Beitenu group, looks set to have fewer seats than in the previous parliament, with opinion polls showing a surge in support for the far-right Jewish Home party.


Political sources said Netanyahu, concerned by his apparent fall in popularity, might approach centre-left parties after the vote in an effort to broaden his coalition and present a more moderate face to Washington and other concerned allies.


"We want Israel to succeed, we vote Likud-Beitenu ... The bigger it is, the more Israel will succeed," Netanyahu said after casting his ballot alongside his wife and two sons.


Some 5.66 million Israelis are eligible to vote, with polling stations closing at 10 p.m. (2000 GMT). Full results are due by Wednesday morning, opening the way for coalition talks that could take several weeks.


The lackluster election campaign failed to focus on any single issue and with a Netanyahu victory predicted by every opinion poll, the two main political blocs seemed to spend more time on internal feuding than confronting each other.


"There is a king sitting on the throne in Israel and I wanted to dethrone him, but it looks like that won't happen," said Yehudit Shimshi, a retired teacher voting in central Israel, on a bright, hot mid-winter morning.


No Israeli party has ever secured an absolute majority, meaning that Netanyahu, who says that dealing with Iran's nuclear ambitions is his top priority, will have to bring various allies onboard to control the 120-seat Knesset.


The former commando has traditionally looked to religious, conservative parties for backing and is widely expected to seek out the surprise star of the campaign, self-made millionaire Naftali Bennett who heads the Jewish Home party.


Bennett has ruled out any peace pact with the Palestinians and calls for the annexation of much of the occupied West Bank.


His youthful dynamism has struck a chord amongst Israelis, most of whom no longer believe in the possibility of a Palestinian deal, and has eroded Netanyahu's support base.


The Likud has also shifted further right in recent months, with hardline candidates who reject the so-called two-state solution, dominating the top of the party list.


"TRENDY PARTIES"


Surveys suggest Bennett may take up to 14 seats, many at the expense of Likud-Beitenu, which was projected to win 32 in the last round of opinion polls published on Friday -- 10 less than the two parties won in 2009 when they ran separate lists.


Acknowledging the threat, Netanyahu's son Yair urged young Israelis not to abandon the old, established Likud.


"Even if there are more trendy parties, there is one party that has a proven record," he said on Tuesday.


Amongst the new parties standing for the first time in an election were Yesh Atid (There is a Future), a centrist group led by former television host Yair Lapid, seen winning 13 seats.


"All our lives we voted Likud, but today we voted for Lapid because we want a different coalition," said Ahuva Heled, 55, a retired teacher voting with her husband north of Tel Aviv.


Lapid has not ruled out joining a Netanyahu cabinet, but is pushing hard for ultra-Orthodox Jews to do military service -- a demand fiercely rejected by some allies of the prime minister.


Israel's main opposition party, Labour, which is seen capturing up to 17 seats, has already ruled out a repeat of 2009, when it initially hooked up with Netanyahu, promising to promote peace negotiations with the Palestinians.


U.S.-brokered talks collapsed just a month after they started in 2010 following a row over settlement building, and have laid in ruins ever since. Netanyahu blamed the Palestinians for the failure and says his door remains open to discussions.


Palestinian President Mahmoud Abbas says he won't return to the table unless there is a halt to settlement construction.


That looks unlikely, with Netanyahu approving some 11,000 settler homes in December alone, causing further strains to his already notoriously difficult relations with U.S. President Barack Obama, who was sworn in for a second term on Monday.


IRAN THREAT


Tuesday's vote is the first in Israel since Arab uprisings swept the region two years ago, reshaping the Middle East.


Netanyahu has said the turbulence - which has brought Islamist governments to power in several countries long ruled by secularist autocrats, including neighboring Egypt - shows the importance of strengthening national security.


If he wins on Tuesday, he will seek to put Iran back to the top of the global agenda. Netanyahu has said he will not let Tehran enrich enough uranium to make a single nuclear bomb - a threshold Israeli experts say could arrive as early as mid-2013.


Iran denies it is planning to build the bomb, and says Israel, widely believed to have the only nuclear arsenal in the Middle East, is the biggest threat to the region.


The issue has barely registered during the election campaign, with a poll in Haaretz newspaper on Friday saying 47 percent of Israelis thought social and economic issues were the most pressing concern, against just 10 percent who cited Iran.


One of the first problems to face the next government, which is unlikely to take power before the middle of next month at the earliest, is the stuttering economy.


Data last week showed the budget deficit rose to 4.2 percent of gross domestic product in 2012, double the original estimate, meaning spending cuts and tax hikes look certain.


(Additional reporting by Ori Lewis, Jeffrey Heller and Tova Cohen; Editing by Giles Elgood)



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

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


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


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


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


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


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


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


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


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


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


CURRENCY WAR


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


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


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


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


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


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


OIL OVERSUPPLY


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


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


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


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


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


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


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



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Harbaugh brothers take 49ers, Ravens to Super Bowl


This Super Bowl will be filled with firsts — and one significant last.


The Harbaughs, San Francisco's Jim and Baltimore's John, will be the first pair of brothers to coach against each other in the NFL title game.


Quarterbacks Colin Kaepernick of the 49ers and Joe Flacco of the Ravens each will be playing in his first Super Bowl — where success is the ultimate measure of elite QBs.


It'll be Baltimore's first crack at a championship in a dozen years, San Francisco's first in 18. They are a combined 6-0 in Super Bowls (the 49ers own five of those victories), so one club will lose the big game for the first time.


And middle linebacker Ray Lewis, Baltimore's emotional leader and top tackler, will be playing in the final game of his 17-year career before heading into retirement.


"This is our time," Lewis pronounced.


For all of those story lines, none is expected to command as much attention as Harbaugh vs. Harbaugh. The game in New Orleans on Feb. 3 was quickly given all manner of nicknames: The Brother Bowl. The Harbaugh Bowl. The Har-Bowl. The Super-Baugh.


The Harbaughs' sister, Joani Crean, wrote in a text to The Associated Press: "Overwhelmed with pride for John, Jim and their families! They deserve all that has come their way! Team Harbaugh!"


As John prepared to coach the Ravens in the AFC championship game Sunday night, he watched on the stadium's big video screen as Jim's 49ers wrapped up the NFC championship.


John looked into a nearby TV camera, smiled broadly and said: "Hey, Jim, congratulations. You did it. You're a great coach. Love you."


Less than four hours later, the Ravens won, too. Some siblings try to beat each other in backyard games. These guys will do it in the biggest game of all.


Who's a parent to cheer for?


During the 2011 regular season, the Harbaughs became the only brothers to coach against each other in any NFL game (the Ravens beat the 49ers 16-6 on Thanksgiving Day that year).


The NFC West champion 49ers (13-4-1) opened as 5-point favorites, seeking a record-tying sixth Super Bowl title to add to those won by Hall of Fame quarterbacks Joe Montana and Steve Young.


Lewis was the MVP when the AFC North champion Ravens (13-6) beat the New York Giants in 2001.


With Kaepernick's terrific passing — he was 16 of 21 for 233 yards and a touchdown in only his ninth career NFL start — and two TD runs by Frank Gore, San Francisco erased a 17-point deficit to beat the Atlanta Falcons 28-24 Sunday.


Baltimore then fashioned a comeback of its own, scoring the last 21 points to defeat the New England Patriots 28-13, thanks in large part to Flacco's three second-half touchdown tosses, two to Anquan Boldin. Lewis and the rest of Baltimore's defense limited the high-scoring Patriots to one touchdown.


In the often risk-averse NFL, each Harbaugh made a critical change late in the regular season in a bid to boost his team's postseason chances. Clearly, both moves worked.


After 49ers quarterback Alex Smith, the starter in last season's overtime NFC title game loss to the Giants, got a concussion, Jim switched to Kaepernick for Week 11 — and never switched back. Now San Francisco has its first three-game winning streak of the season, at precisely the right time.


Baltimore, meanwhile, was in the midst of a three-game losing streak when John fired offensive coordinator Cam Cameron and promoted quarterbacks coach Jim Caldwell to replace him.


The 50-year-old John is 15 months older than Jim and generally the less demonstrative of the pair, although John certainly did not lack intensity while making his case with officials a couple of times Sunday.


The ever-excitable Jim — who was treated for an irregular heartbeat in November — was up to his usual sideline antics in Atlanta.


He spun around and sent his headset flying when the original call stood after he threw his red challenge flag on a catch by the Falcons. He hopped and yelled at his defense to get off the field after their key fourth-down stop with less than 1½ minutes left. He made an emphatic-as-can-be timeout signal with 13 seconds remaining.


Expect CBS to fill plenty of time during its Super Bowl broadcast with shots of Jim, that trademark red pen dangling in front of his chest, and John, who usually wears a black Ravens hat. That is sure to be a focal point, right up until they meet for a postgame handshake in two weeks' time.


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AP Sports Writer Janie McCauley in San Francisco contributed to this report.


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


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Online: http://pro32.ap.org/poll and http://twitter.com/AP_NFL


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






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


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






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


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


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


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


Weather News Headlines – Yahoo! News




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How Obama made opportunity real























Best of 2013 inauguration


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Photos: Best of 2013 inauguration


Best of 2013 inauguration


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Photos: Best of 2013 inauguration


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Best of 2013 inauguration


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STORY HIGHLIGHTS


  • LZ Granderson: Specifics of Obama's first term may not be remembered

  • He says his ability to win presidency twice is unforgettable

  • Granderson: Obama, the first black president, makes opportunity real for many

  • He says it makes presidency a possibility for people of all backgrounds




Editor's note: LZ Granderson, who writes a weekly column for CNN.com, was named journalist of the year by the National Lesbian and Gay Journalists Association and is a 2011 Online Journalism Award finalist for commentary. He is a senior writer and columnist for ESPN the Magazine and ESPN.com. Follow him on Twitter: @locs_n_laughs.


(CNN) -- In his first term, President Barack Obama signed 654 bills into law, the Dow Jones Industrial Average increased by about 70% and the national debt by $5.8 trillion.


And in 10 years -- maybe less -- few outside of the Beltway will remember any of that. That's not to suggest those details are not important. But even if all of his actions are forgotten, Obama's legacy as the first black president will endure.


And even though this is his second term and fewer people are expected to travel to Washington this time to witness the inauguration, know that this moment is not any less important.



For had Obama not been re-elected, his barrier-breaking election in 2008 could have easily been characterized as a charismatic politician capturing lightning in a bottle. But by becoming the first president since Dwight Eisenhower to win at least 51% of the vote twice, Obama proved his administration was successful.


And not by chance, but by change.


A change, to paraphrase Martin Luther King Jr., that was not inevitable but a result of our collective and continuous struggle to be that shining city on a hill of which President Ronald Reagan spoke so often.










For much of this country's history, being a white male was a legal prerequisite to being president. Then it was accepted as a cultural norm. Because of that, we could not be the country we set out to be.


But today, somewhere in the Midwest, there is a little Asian-American girl with the crazy idea she could be president one day, and because of Obama, she knows that idea is not very crazy at all.


That's power -- the kind of power that can fade urgent numbers and debates of the day into the background of history.


Gergen: Obama 2.0 version is smarter, tougher


Few remember the number of steps Neil Armstrong took when he landed on the moon, but they remember he was the first human being who stepped on the moon. Few can tell you how many hits Jackie Robinson had in his first Major League Baseball game, but they know he broke baseball's color barrier. Paying homage to a person being first at something significant does not diminish his or her other accomplishments. It adds texture to the arc of their story.


I understand the desire not to talk about race as a way of looking progressive.


But progress isn't pretending to be color blind, it's not being blinded by the person's color.


Or gender.


Or religion.


Or sexual orientation.


Somewhere in the South, there is an openly gay high schooler who loves student government and wants to be president someday. And because of Obama, he knows if he does run, he won't have to hide.


That does not represent a shift in demographics, but a shift in thought inspired by a new reality. A reality in which the president who follows Obama could be a white woman from Arkansas by way of Illinois; a Cuban-American from Florida; or a tough white guy from Jersey. Or someone from an entirely different background. We don't know. Four years is a long time away, and no one knows how any of this will play out -- which I think is a good thing.


For a long time, we've conceived of America as the land of opportunity. Eight years ago, when it came to the presidency, that notion was rhetoric. Four years ago, it became a once in a lifetime moment. Today, it is simply a fact of life.


Ten years from now, we may not remember what the unemployment rate was when Obama was sworn in a second time, but we'll never forget how he forever changed the limits of possibility for generations to come.


Somewhere out West, there is an 80-year-old black woman who never thought she'd see the day when a black man would be elected president. Somehow I doubt Obama's second inauguration is less important to her.


Follow us on Twitter @CNNOpinion.


Join us on Facebook/CNNOpinion.


The opinions expressed in this commentary are solely those of LZ Granderson.






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