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U.S. stocks edged higher Monday morning, kicking off the start of a busy week.
The S&P 500 (^GSPC) edged higher 0.2%, while the Dow Jones Industrial Average (^DJI) ticked up near the flatline. The technology-heavy Nasdaq Composite (^IXIC) was up 0.4%.
The yield on the benchmark 10-year U.S. Treasury note ticked down to 3.93% Monday morning. Crude oil slipped, with U.S. benchmark WTI down at $78.96 a barrel. The dollar index moved lower trading at $104.40.
U.S. stocks gained on Friday to close out a volatile week, while bond yields pulled back from their recent highs. The three major indexes rose for the week, with the Dow Jones adding 1.7%, the S&P 500 closing 1.9% higher, and the Nasdaq gaining 2.6%. The yield on the benchmark 10-year Treasury settled back below the key 4% level, and the two-year yield fell to 4.86%. Economic data released on Friday showed the services sector grew in February.
This week, Wall Street will be paying close attention to the jobs report out Friday. The February jobs report is expected to show 215,000 new jobs have been added to the economy, according to economist estimates, a slower pace from January’s blowout number of 517,000 job additions.
The unemployment rate is expected to hold steady at 3.4%. Another key point from the report will be wage growth, with a 0.3% month-to-month bump in average hourly earnings anticipated and 4.7% over the last year.
Economists at Bank of America, led by Michael Gapen, believe a deceleration from January will be tied largely to weather shifts and a general mean-reverting nature of payrolls. "Typically, when payroll growth records a sizable increase or decrease, we see a reversal in the following month," the firm noted.
Also, investors will be keeping an eye on Federal Reserve Chair Jerome Powell's two-day biannual monetary policy testimony on Capitol Hill, which begins Tuesday.
Other highlights this week include ADP’s monthly read on private payroll growth, January’s report on job openings from the Bureau of Labor Statistics, and the Fed’s Beige Book.
In single stock moves, Apple (AAPL) shares gained 2% on Monday as Goldman Sachs analyst Michael Ng initiated coverage of Apple with a buy rating and a price target of $199. Ng noted Apple's success in hardware design and brand loyalty has led to a growing installed base of users that provide visibility into revenue growth. And Apple's valuation is attractive relative to its historical multiple and to peers.
Ciena (CIEN) shares jumped 6% Monday morning after the company posted better than expected results that topped analysts expectations amid strong demand in its networking platforms business.
On the earnings front, Dick's Sporting Goods (DKS), Oracle (ORCL) and BJ's Wholesale (BJ) are set to report results this week.
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Gene Munster, managing partner at Deepwater Asset Management, joins 'Squawk Box' to discuss what happens to tech stocks if Jerome Powell is hawkish in his upcoming comments, how Munster acts long-term towards tech stocks, and more. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi
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'Mad Money' host Jim Cramer and the 'Squawk on the Street' team react to Sam Bankman-Fried's interview with CNBC's Andrew Ross Sorkin at The New York Times' DealBook Summit on Wednesday over the collapse of FTX.
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Mohamed El-Erian, Allianz and Gramercy advisor and president of Queens’ College, Cambridge, joins CNBC's 'Squawk Box' to lay out his market outlook following the Labor Day holiday weekend. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi
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Stephane Link, Jim Lebenthal and Josh Brown join 'Halftime Report' to discuss the strength of the current market rally, today's top movers and growth opprotunities for 2023. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi
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Just Capital co-founder Paul Tudor Jones and T-Mobile CEO Mike Sievert join 'Squawk Box' to discuss the '2023 Just 100 rankings,' markets, and economy. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi
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JJ Kinahan, IG North America CEO, joins CNBC's 'Squawk Box' to discuss bank earnings and overall market expectations. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi
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Richard Fisher, former Dallas Fed president and Barclays senior advisor, joins 'Squawk Box' to discuss the Federal Reserve's inflation fight and how it's impacting the market. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi
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U.S. stocks closed higher Tuesday, even as Wall Street processed hawkish rate talk from Federal Reserve officials and remarks on inflation from Chair Jerome Powell at an event hosted by Sweden's central bank.
The S&P 500 (^GSPC) rose 0.7%, and the Dow Jones Industrial Average (^DJI) added nearly 200 points, or 0.6%. The technology-heavy Nasdaq Composite (^IXIC) advanced 1%, moving up for a third-straight day.
Powell reiterated the importance of stable inflation in a speech Tuesday at the Symposium on Central Bank Independence in Stockholm, Sweden. He said leveling out prices can require the Fed to take actions that are necessary, even if often unpopular.
"The case for monetary policy independence lies in the benefits of insulating monetary policy decisions from short-term political considerations," he said.
Elsewhere in a busy week of Fedspeak, Federal Reserve Governor Michelle Bowman asserted on Tuesday that there remains more work to do on fighting inflation despite recent improvements in the data. She said the Fed will continue raising interest rates to reach its 2% long-term price stability goal.
“I am committed to taking further actions to bring inflation back down to our goal,” Bowman said at the Florida Bankers Association Leadership Luncheon in Miami, Florida.
In specific market moves, shares of Coinbase (COIN) rose 13% after the cryptocurrency exchange said it would cut nearly 1,000 jobs as part of a restructuring plan. The company expects to incur roughly $149 million to $163 million in restructuring expenses. The move will mark the third round of layoffs for Coinbase since last year.
Shares of billionaire Richard Branson's Virgin Orbit Holdings (VORB) plunged 14% after one of the company's rockets failed to reach its target orbit in a highly anticipated space mission due to a technical failure.
Investors continued to watch shares of beleaguered retailer Bed Bath & Beyond (BBBY) as it reported earnings that missed estimates, just one week after revealing the company was considering bankruptcy due to its financial struggles. The meme stock spiked nearly 28% on Tuesday after a 24% surge Monday.
As we shared last week, we continue to work with advisors as we consider all strategic alternatives to accomplish our near- and long-term goals,” CEO Sue Gove said in an update Tuesday, adding that "multiple paths are being explored."
Bumble (BMBL) shares rose 7% after KeyBanc upgraded the female-founded dating app from Sector Weight to Overweight and said the "competitive environment appears stable, and economic pressures are easing.”
Oak Street Health (OSH) shares spiked 27% after Bloomberg News reported Monday that CVS Health is exploring an acquisition of the operator of primary care centers.
Jeremy Siegel, professor of finance at the University of Pennsylvania's Wharton School of Business, joins CNBC's 'Squawk Box'' to discuss deflation signals, the time to stop raising rates, and why the Fed should shift its focus away from wages and structural changes. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi
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Cramer explained the significance of the December consumer price index report set to release Thursday. Sign up and learn more about the CNBC Investing Club with Jim Cramer https://cnb.cx/3Ei22n4
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Deputies are investigating after the body of a woman was found in the middle of a road Tuesday morning in Puyallup.
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As we approach the end of Crash Course Astronomy, it’s time now to acknowledge that our Universe’s days are numbered. Stars will die out after a few trillion years, protons will decay and matter will dissolve after a thousand trillion trillion trillion years, black holes will evaporate after 10^92 years, and then all will be dark. But there is still hope that a new Universe will be born from it.
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If you want to learn more about the creation and death of the universe, watch Crash Course Big History here: https://youtube.com/playlist?l....ist=PL8dPuuaLjXtMczX
--
Chapters:
Introduction: The End of the Universe 00:00
Scientific Notation 1:34
The Five Ages of the Universe 2:20
The Primordial Era 2:52
The Stelliferous Era (You Are Here!) 3:05
The Degenerate Era 4:48
The Black Hole Era 7:42
The Dark Era 9:39
The Big Rip 10:20
Other Possibilities: Multiverses & The Cosmic Reboot 11:52
Review 14:10
--
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--
Hawking Radiation Mechanism resources:
https://en.wikipedia.org/wiki/Hawking_radiation
http://math.ucr.edu/home/baez/....physics/Relativity/B
http://casa.colorado.edu/~ajsh/hawk.html
http://physics.stackexchange.c....om/questions/154647/
PHOTOS/VIDEOS
Hubble ACS SWEEPS Field http://hubblesite.org/gallery/....album/star/star_fiel [credit: NASA, ESA, W. Clarkson (Indiana University and UCLA), and K. Sahu (STScI)]
Flare http://www.nasa.gov/sites/defa....ult/files/thumbnails [credit: NASA's Goddard Space Flight Center/S. Wiessinger]
Hubble Views Stellar Genesis in the Southern Pinwheel http://hubblesite.org/newscent....er/archive/releases/ [credit: NASA, ESA, and the Hubble Heritage Team (STScI/AURA)]
White Dwarf http://www.nasa.gov/multimedia..../imagegallery/image_ [credit: NASA, ESA, H. Bond (STScI) and M. Barstow (University of Leicester)]
Neutron Star Illustrated https://commons.wikimedia.org/....wiki/File:Neutron_st [credit: NASA, Casey Reed - Penn State University]
Black Holes: Monsters in Space http://www.nasa.gov/mission_pa....ges/nustar/multimedi [credit: NASA/JPL-Caltech]
Binary Neutron Star Video https://nasaviz.gsfc.nasa.gov/....vis/a030000/a030500/ [credit: NASA]
Giant Elliptical Galaxy NGC 1316 in Fornax Cluster https://www.eso.org/public/images/eso0024a/ [credit: ESO]
Proton Aurora http://svs.gsfc.nasa.gov/cgi-b....in/details.cgi?aid=2 [credit: NASA/Goddard Space Flight Center Conceptual Image Lab]
A Race Round a Black Hole http://www.nasa.gov/centers/go....ddard/universe/black [credit: NASA/Dana Berry, SkyWorks Digital]
The Big Bang http://svs.gsfc.nasa.gov/cgi-b....in/details.cgi?aid=1 [credit: NASA]
Hubble Ultra Deep Field 2014 http://hubblesite.org/newscent....er/archive/releases/ [credit: NASA, ESA, H. Teplitz and M. Rafelski (IPAC/Caltech), A. Koekemoer (STScI), R. Windhorst (Arizona State University), and Z. Levay (STScI)]
Galaxy http://apod.nasa.gov/apod/ap150614.html [credit: Subaru Telescope (NAOJ), Hubble Space Telescope, Robert Gendler]
One star, many stars (M13) http://www.deepskycolors.com/a....rchive/2011/05/04/on [credit: Rogelio Bernal Andreo]
Earth https://www.nasa.gov/content/g....oddard/earth-from-sp [credit: NASA's Earth Observatory]
Explosion video [credit: Shutterstock / Richard Finch]
For many years, countless strange artifacts have been found - books with strange codes, unexplained maps, stones carved with unusual shapes, ancient figures that depict strange things, and... the case of the Betz sphere, a mysterious metallic sphere accidentally found by an American family during the 1970s that had the ability to move on its own... At the time, the sphere caused a great media frenzy and came to be described by many as "alien technology." It all started in April 1974, when a family from the city of Jacksonville, Florida, found a strange spherical metallic object with an approximate weight of 20 pounds and dimensions somewhat smaller than those of a bowling ball.
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Tiny particles from distant galaxies have caused plane accidents, election interference and game glitches. This video is sponsored by Brilliant. The first 200 people to sign up via https://brilliant.org/veritasium get 20% off a yearly subscription.
This video was inspired by the RadioLab Podcast "Bit Flip" https://ve42.co/BF -- they're brilliant science storytellers.
A Huge thanks to Dr Leif Scheick, Calla Cofield and the JPL Media Relations Team.
Thanks to Col Chris Hadfield. Check out his book: https://chrishadfield.ca/books/
▀▀▀
References:
J. F. Ziegler, "Terrestrial cosmic rays," in IBM Journal of Research and Development, vol. 40, no. 1, pp. 19-39, Jan. 1996, doi: 10.1147/rd.401.0019. -- https://ve42.co/Ziegler1996
D. Binder, E. C. Smith and A. B. Holman, "Satellite Anomalies from Galactic Cosmic Rays," in IEEE Transactions on Nuclear Science, vol. 22, no. 6, pp. 2675-2680, Dec. 1975, doi: 10.1109/TNS.1975.4328188 https://ve42.co/Binder1975
Ziegler, J. F., & Lanford, W. A. (1979). Effect of cosmic rays on computer memories. Science, 206(4420), 776-788 https://ve42.co/Ziegler1979
Drury, L. O. C. (2012). Origin of cosmic rays. Astroparticle Physics, 39, 52-60. https://ve42.co/Drury2012
Hess, V. (2018). On the observations of the penetrating radiation during seven balloon flights. arXiv preprint arXiv:1808.02927. --https://ve42.co/Hess2018
Carlson, P., & De Angelis, A. (2011). Nationalism and internationalism in science: the case of the discovery of cosmic rays. The European Physical Journal H, 35(4), 309-329. -- https://ve42.co/Carlson2011
Höeffgen, S. K., Metzger, S., & Steffens, M. (2020). Investigating the effects of cosmic rays on space electronics. Frontiers in Physics, 8, 318. -- https://ve42.co/Hoeffgen2020
Edmonds, L. D., Barnes, C. E., & Scheick, L. Z. (2000). An introduction to space radiation effects on microelectronics. Jet Propulsion Laboratory, National Aeronautics and Space Administration. -- https://ve42.co/Edmonds2000
NASA Mars 2020 website covering the specifications of the Perseverance Rover https://ve42.co/RoverBrains
Australian Government Australian Transport Safety Bureau report on QF72 -- https://ve42.co/ASTBQantas
Australian Government Australian Transport Safety Bureau summary on QF72 --https://ve42.co/ASTBQantas2
Great Blog post about QF72 -- https://ve42.co/DempseyQantas
Michael Barr's report on the Toyota acceleration issue --https://ve42.co/Barr2015
NASA's Report on Toyota -- https://ve42.co/NASAToyota
T. C. May and M. H. Woods, "A New Physical Mechanism for Soft Errors in Dynamic Memories," 16th International Reliability Physics Symposium, 1978, pp. 33-40, doi: 10.1109/IRPS.1978.362815. --https://ve42.co/May1978
P. M. O'Neill and G. D. Badhwar, "Single event upsets for Space Shuttle flights of new general purpose computer memory devices," in IEEE Transactions on Nuclear Science, vol. 41, no. 5, pp. 1755-1764, Oct. 1994, doi: 10.1109/23.317386. -- https://ve42.co/ONeill1994
Wikipedia about radiation hardening -- https://ve42.co/RadHardening
Toward Monitoring Fault-Tolerant Embedded
Systems (Extended Abstract) -- https://ve42.co/Goodloe2009
Article about speed run -- https://ve42.co/BurttSpeedrun
Article about speed run -- https://ve42.co/BountySpeedrun
Article about redundant systems in spaceflight -- https://ve42.co/NASAComputers
Article about the PowerPC750 -- https://ve42.co/Wener-FlignerNASA
Fuglesang C, Narici L, Picozza P, Sannita WG. Phosphenes in low earth orbit: survey responses from 59 astronauts. Aviat Space Environ Med. 2006 Apr;77(4):449-52. PMID: 16676658. -- https://ve42.co/Fuglesang2006
Good article about Cosmic Rays causing flashes -- https://ve42.co/AtkinsonEye
Good article about radiation resistance -- https://ve42.co/RoverResistance
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Written by Derek Muller and Petr Lebedev
Animation by Ivy Tello, Mike Radjabov, Fabio Albertelli, Jakub Misiek and Charlie Davies
SFX by Shaun Clifford
Filmed by Derek Muller, Raquel Nuno, and Emily Zhang
Edited by Derek Muller and Petr Lebedev
SFX by Shaun Clifford
Additional video supplied by Getty Images
Rover Footage From NASA/JPL-Caltech
QF72 footage from the Smithsonian channel https://youtu.be/H3q5S9PCoJA
SM64 footage from https://ve42.co/pannenkoek2012
Music from Epidemic Sound
Produced by Derek Muller, Petr Lebedev and Emily Zhang