Archives for January 5, 2019

Researchers propose guiding large space telescopes with tiny satellites

Phu Chi Fa is a mountain area and national forest park in Thailand. It is located at the northeastern end of the Phi Pan Nam Range, 12 km to the southwest of Doi Pha Tang at the eastern edge of Thoeng District, Chiang Rai Province.

In the future, they could be used to stabilize telescopes studying exoplanets.

Using the recently retired Kepler space telescope, scientists have confirmed thousands of exoplanets, and as its successor TESS ramps up its search, we’re poised to discover plenty more. But once we find exoplanets, learning more detailed information about them requires larger, more powerful space telescopes. These telescopes would need very large mirrors, much like NASA’s upcoming (and continuously delayed) James Webb Telescope, which will use its 6.5-meter-wide mirror to observe extremely distant galaxies. And like the James Webb Telescope, they very well could have a mirror made up of many individual segments — Webb’s has 18.

But while that sort of design allows for very large telescopes to be launched into space, it comes with its own challenges. One of which is the need for exceptional stability. “Any disturbance on the spacecraft, like a slight change in the angle of the sun, or a piece of electronics turning on and off and changing the amount of heat dissipated across the spacecraft, will cause slight expansion or contraction of the structure,” MIT postdoc Ewan Douglas told MIT News. “If you get disturbances bigger than around 10 picometers, you start seeing a change in the pattern of starlight inside the telescope, and the changes mean that you can’t perfectly subtract the starlight to see the planet’s reflected light.”

What that boils down to is if the telescope isn’t extremely stable, its measurements could be off, affecting observations of distant exoplanets.

Scientists are able to use laser light pointed from the ground to the sky as a way to guide and stabilize telescopes. And researchers at MIT are riffing on that idea, proposing that, in the future, we use small satellites, such as CubeSats, to guide large space telescopes with laser light. “Rather than pointing a laser from the ground into space, we’re shining it from space, onto a telescope in space,” said Douglas.

The research team described the idea in a study published in the Astronomical Journal, which explored how bright of a laser would be required as well as how far away and how stable it would need to be. But overall the team found that existing technology could get the job done. In such a scenario, the satellite would point a laser at the telescope’s mirrors and an onboard camera would monitor the light and any major changes, allowing the telescope to adjust as needed.

The researchers are still looking into some of the logistics of such a system, but in the future, this method could help reduce the cost of large, segmented telescopes. “This paper suggests that in the future, we might be able to build a telescope that’s a little floppier, a little less intrinsically stable, but could use a bright source as a reference to maintain its stability,” said Douglas.

Tesla starts taking Model 3 orders in select European countries

BERLIN, GERMANY – JANUARY 04: People walk past a Tesla dealership on January 4, 2019 in Berlin, Germany. Tesla is expected to soon begin deliveries of the Model 3 in Europe even though the car has not yet been officially approved by European authorities. (Photo by Sean Gallup/Getty Images)

Tesla’s Model 3 design studio is now open for everyone in left-hand drive European countries, and that means it’s now taking orders from the public in those markets. The automaker started displaying the new vehicle in European showrooms in November 2018, hinting at its impending release. While it began taking orders from reservation holders in December, only those who plunked down a $1,000 reservation fee were given access to the design studio. Now, anybody can visit Tesla’s website and go through the customization process to see how much the set-up they want will cost.

Based on the design studio options, Tesla is only taking orders for the Long Range Battery and Performance versions of Model 3 for now — the more affordable Mid-Range Battery vehicle is nowhere to be found. The car’s pricing varies per region, so how much interested customers will have to earmark for the purchase depends on their location. In France, for instance, a basic Long Range Battery version without Enhanced Autopilot is priced at €53,500 (US$61,000), whereas it costs €59,600 (US$68,000) in Italy. The same model will set Americans back $42,950 after savings.

Interested customers in Austria, Belgium, Denmark, Finland, France, Germany, Italy, Luxemburg, Netherlands, Norway, Portugal, Spain, Sweden and Switzerland can take the customization process for a spin right here. While we can’t see an option for the country, Tesla has also started taking orders from the public in China, according to Electrek.

Dow closes more than 700 points higher as investors cheer jobs data, Powell comments

Job growth in December surpassed expectations.

Job growth beat estimates; unemployment rate rose as labor force expands

U.S. stocks staged a major rally to close out the week, more than erasing Thursday’s sharp losses after a better-than-expected jobs report showed employers adding new personnel at a robust pace.

Also bolstering sentiment were remarks by Federal Reserve Chair Jerome Powell.

What are major indexes doing?
The Dow Jones Industrial Average DJIA, +3.29% rose 746.94 points, or 3.3%, to 23,433.16, while the S&P 500 index SPX, +3.43% advanced 84.05 points, or 3.4%, to 2,531.94. The Nasdaq Composite Index COMP, +4.26% advanced 275.35 points, or 4.3%, to 6,738.86.

At session highs, the Dow rose as much as 832.42 points, the S&P 500 90.16 points, while the Nasdaq surged 297.18 points.

Friday’s performance saved markets from what had been the worst start to a year for the Dow and S&P 500 since 2000, according to Dow Jones Market Data.

After Friday’s close, the Dow is up 0.5% on the year, the S&P 500 1%, while the Nasdaq has advanced 1.6% over the first three trading days of 2019.

What’s drove the market?
The U.S. economy added 312,000 new jobs in December, well above expectations for a gain of 182,000, according to a MarketWatch poll of economists. The strong headline number, along with data showing wages grew faster than expected, helped dampen fears that the Federal Reserve is being overly optimistic in its plans to continue raising interest rates in 2019.

Investor optimism was further reinforced by comments by Fed Chairman Jerome Powell, who said during a Friday morning appearance that the jobs report didn’t materially increase concerns over rising inflation, while reiterating that the central bank would continue to keep an open mind about how much it will raise interest rates in 2019 and how aggressively it will shrink its balance sheet, based on incoming data about the U.S. and global economy, including recent weakness in equity markets.

The healthy report comes on the heels of a statement from China’s Commerce Ministry confirming that a delegation of U.S. trade officials would meet with their Chinese counterparts Monday and Tuesday, news reports said, marking the first time the two sides have met since President Donald Trump and Chinese leader Xi Jinping agreed to a 90-day trade truce last month.

Sentiment also got a boost after China’s central bank on Friday cut the ratio of cash that banks must hold as reserves by 100 basis points, or 1%, according to news reports — a move that is seen as a means to help reduce the risk of a sharper slowdown in the world’s second largest economy.

Also adding to optimism in China was a report showing that the Chinese services sector grew at a faster rate in December versus November, while export orders rose at the fastest pace in six months.

Stocks fell hard Thursday after Apple cut its revenue guidance, in part citing weakness in China. A round of weak manufacturing survey data out of China, the eurozone and the U.S. added to the gloom. Apple shares fell sharply, posting their biggest one-day percentage drop since 2013 while the overall market drop left the S&P 500 and the Dow with the worst start to a year since 2000.

What are the analysts saying?
Stocks added to their gains in the immediate wake of Powell’s comments because “he reiterated that there isn’t a set path for future interest rate hikes,” Steve Chiavarone, portfolio manager with Federated Investments, told MarketWatch.

“It’s not that the Fed is here to save the markets from volatility,’ he added. “But the magnitude of the pullback we’ve had, around 20%, tells you something about what the market believes about the underlying economy. It would be the height of hubris for Powell to disregard that,” and markets are taking solace in Powell’s suggestion that monitoring large swings in equity valuations are important part of data dependence, Chiavarone said.

With job growth and wage growth continuing to beat investor expectations, “it makes it very difficult to argue that the Fed should come to a complete halt in hiking interest rates, or that the economy is meaningfully weakening,” Willie Delwiche, investment strategist with R.W. Baird, told MarketWatch.

While the market has lately reacted negatively to any news that might encourage further rate hikes, Delwiche said, “if the Fed is positioned to continue to raise rates in 2019 because the data warrants it, it’s not such a scary thing for the stock market.”

Which stocks were in focus?
Apple Inc. AAPL, +4.27% shares rebounded, rising 3.9%, following Thursday’s 9.9% decline spurred by the company cutting its revenue guidance, citing weaker iPhone sales in China.

Shares of Netflix Inc. NFLX, +9.72% closed up 9.1%, after Goldman Sachs added the stock to its conviction list and said a 36% pullback since July presents an attractive buying opportunity.

Coty Inc. COTY, +5.45% shares are up 4.7%, after JPMorgan analyst Andrea Teixeira raised her rating on the stock from sell to neutral, arguing that the beauty-products company’s stock has hit a “rock bottom” valuation. The stock is down more than 49% over the past six months.

How did other markets trading?
Stock markets in China rallied Friday, after news of the resumption of U.S.-China trade talks, new stimulus measures from China’s central bank, as well as a better-than-expected report on the Chinese services sector.

Both the Shanghai Composite Index SHCOMP, +2.05% and Hong Kong’s Hang Seng HSI, +2.24% Index gained more than 2%. Japan’s Nikkei NIK, -2.26% however, slid 2.3% after the Tokyo Stock Exchange had been closed for holidays all week.

European stock markets also rallied, with the Stoxx Europe 600 SXXP, +2.83% and the FTSE 100 UKX, +2.16% closing solidly in the green.

Crude-oil futures CLG9, +2.59% are rising Friday, up 2.3%, while the U.S. dollar DXY, -0.08% edged 0.1% lower and gold GCG9, -0.66% prices fell by 0.6%.

The biggest stock-market winners and losers on the best day for jobs news in 10 months

Mattel, the maker of Hot Wheels, was the best performer among the S&P 500 on Jan. 4, when its shares surged more than 12%.

A surprisingly positive employment report set up the second-largest gain for the Dow since August 2015

Friday was a day of significant gains for U.S. stocks, after the Labor Department’s reported the U.S. economy added 312,000 jobs during December, well above the consensus forecast of a 182,000 increase among economists polled by MarketWatch.

The Dow Jones Industrial Average DJIA, +3.29% jumped 747 points or 3.3% to close at 23,433.16, for its best performance since Dec. 26, when it surged 5%. (Before Dec. 26, the Dow’s best day was Aug. 26, 2015, when it climbed 4%.) The S&P 500 index SPX, +3.43% clambered up 3.4%, while the Nasdaq Composite Index COMP, +4.26% leapt 4.3%.

Higher stock prices generally held despite a statement from President Trump later in the session that the partial shutdown of the U.S. government might last months or years, after he and Democratic Party leaders in Congress again failed to settle their dispute over funding Trump’s proposed border wall.

Friday’s winners
Dow Jones Industrial Average

All 30 Dow components rose:



You can click the tickers for more about each company, including news, profiles, charts, price ratios, estimates and financials.

S&P 500
Among the S&P 500, all but 17 stocks advanced. Here are the day’s 10 best performers:

Nasdaq
All but one of the Nasdaq-100 NDX, +4.48% components rose. Here are the day’s best 10:

Bitcoin on track for 10th consecutive session below $4,000

Expect university endowments to be large players in the cryptocurrency market, says Nigel Green

Cryptocurrency prices are trading in mixed fashion on Friday with bitcoin, the best-known digital currency, marginally lower.

In midafternoon trading, one bitcoin BTCUSD, +0.42% was fetching $3,806.21, down 0.9% since 5 p.m. Eastern Time on the Kraken crypto exchange. If the loss is maintained, the coin is on track to log its 10th consecutive session below the $4,000 mark.

What are analysts saying

Despite prices hanging near multimonth lows, Nigel Green, founder and CEO of U.K. consulting firm deVere group, said the landscape for digital assets is set for an upswing in 2019, buoyed by growing interest from the institutional sector.

“The bearish sentiment of the last quarter of 2018 is now, I believe, behind us,” wrote Green. “We can expect the current upswing to continue, albeit with peaks and troughs as in any financial market. In 2019, the cryptocurrency market is set to radically evolve. We can expect considerable expansion of the sector largely due to inflows of institutional investors.”

Green predicts that the endowments of prestigious universities will become significant investors in cryptocurrencies in 2019.

What are altcoins and futures doing

Altcoins — the colloquial term for coins other than bitcoin — are mostly lower on Friday. Litecoin LTCUSD, +2.26% was off 0.1% to $31.38, XRP, XRPUSD, +0.84% was down 1.2% to 35 cents, Bitcoin Cash BCHUSD, -0.69% was down 3.4% at $155.60 and Ether, ETHUSD, +3.15% was bucking the trend, trading up 0.4% to $148.48.

Bitcoin futures finished mixed on Friday. The Cboe Global Markets February contract XBTG9, +0.47% closed up 0.1% at $3,752.50, and the CME Group February contract BTCG9, +1.74% finished down 0.5% to $3,730.

Markets Right Now: Stocks Soar, Erasing Thursday’s Plunge

Trader Gregory Rowe works on the floor of the New York Stock Exchange, Friday, Jan. 4, 2019. Stocks are jumping at the open on Wall Street Friday as investors welcome news of trade talks between the U.S. and China and a big gain in jobs in the U.S.

Wall Street roared back, wiping out all of the losses from the previous day, as a barrage of positive news eased concerns about the economy and interest rates.

4 p.m.

Wall Street roared back, wiping out all of the market’s losses from the previous day, as a barrage of positive news eased concerns about the global economy and interest rates.

Major indexes closed up more than 3 percent Friday.

Traders were encouraged by news that employers ramped up hiring in December, which could allay fears about an economic slowdown.

Those worries, along with a weak revenue forecast from Apple, contributed to steep losses Thursday.

China said trade talks would resume next week, and Fed Chairman Jerome Powell said the central bank will be flexible with rates.

The S&P 500 rose 84 points, or 3.4 percent, to 2,531.

The Dow Jones Industrial Average jumped 746 points, or 3.3 percent, to 23,433. The Nasdaq rose 275 points, or 4.3 percent, to 6,738.

____

11:45 a.m.

Stocks are rocketing higher Friday and wiping out much of the previous day’s losses after a string of developments eased investors’ concerns about the global economy and interest rates.

The Labor Department said hiring ramped up in December, which could allay fears about an economic slowdown in the U.S. Those worries, along with a weak revenue forecast from Apple, contributed to steep losses Thursday.

China’s government said trade talks between the U.S. and China will be held Monday and Tuesday.

Federal Reserve Chairman Jerome Powell said the central bank will be flexible with interest rates.

The S&P 500 index rose 67 points, or 2.8 percent, to 2,515.

The Dow Jones Industrial Average jumped 590 points, or 2.6 percent, to 23,276. The Nasdaq rose 232 points, or 3.6 percent, to 6,695.

____

10:00 a.m.

Stocks are jumping early Friday as investors are encouraged by news of trade talks between the U.S. and China and a strong report on the U.S. job market.

The Dow Jones Industrial Average rose 467 points, or 2.1 percent, to 23,154. The S&P 500 gained 2.1 percent, to 2,498. The Nasdaq rose 2.3 percent, to 6,614. Technology and energy stocks are leading the broad gains.

The U.S. government said employers added 312,000 jobs last month. The strong showing could allay concerns about an economic slowdown in the U.S. Those concerns, along with a weak revenue forecast from Apple, contributed to steep losses in stocks Thursday.

Most overseas markets rose after China’s Commerce Ministry said trade talks between the U.S. and China will be held Monday and Tuesday in Beijing.

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9:35 a.m.

Stocks are jumping at the open on Wall Street Friday as investors welcome news of trade talks between the U.S. and China and a big gain in jobs in the U.S.

The Dow Jones Industrial Average rose 308 points, or 1.4 percent, to 22,994. The S&P 500 gained 34 points, or 1.4 percent, to 2,482.

The Nasdaq rose 96 points, or 1.5 percent, to 6,559.

The U.S. government said employers added 312,000 jobs last month. The strong showing could allay concerns about an economic slowdown in the U.S. Those concerns, along with a weak revenue forecast from Apple, contributed to steep losses in stocks Thursday.

Most overseas markets rose after China’s Commerce Ministry said trade talks between the U.S. and China will be held Monday and Tuesday in Beijing.

Bond prices dropped as investors turned back to riskier investments. The yield on the 10-year Treasury surged to 2.64 percent.