Futures Movers: Oil heads back down as dollar revives

By Michael Kitchen, MarketWatch

LOS ANGELES (MarketWatch) ? Benchmark U.S. crude-oil futures slipped in electronic trade Tuesday, surrendering some gains as the dollar staged a modest rebound.

During Asian trading hours, the New York Mercantile Exchange crude contract for February /quotes/zigman/2291766 CLG3 +0.24% ?lost 39 cents, or 0.4%, to trade at $93.75 a barrel.

The rival benchmark Brent crude also moved lower, with the February Brent contract /quotes/zigman/2735831 UK:LCOG3 +0.38% ?down 0.3% at $111.52 a barrel on ICE Futures in London.

The losses followed a 0.6% gain for Nymex crude during Monday?s regular floor session, as a weaker dollar helped send the contract to its highest point in almost four months. Read: Oil settles above $94, near four-month high

However, the forex support faded as the dollar moved back up Tuesday. The ICE dollar index /quotes/zigman/1652083 DXY -0.09% ?, measuring the U.S. currency against six rivals, rose to 79.546 from 79.493 around the time of Monday?s Nymex close.

Obama on taxes

During the final White House press conference of his first term, President Obama speaks about his strategy to eliminate the deficit and increase revenues. Photo: Getty Images.

GFT Markets technical analyst Fawad Razaqzada also cited concerns about oil demand ? or a lack thereof ? as a factor in the Nymex session.

?Finding excuses for the buying, the bulls were arguing that while uncertainty about demand for oil remains, some of those worries have surely eased after China produced strong trade figures last week,? Razaqzada said of Monday?s rise for crude.

?More clues on demand will emerge as the earnings season kicks into a higher gear this week. Meanwhile, supply of oil remains abundant in North America, and this is one of the major factors weighing on prices,? he wrote in a note Tuesday.

The demand-supply dynamic was likely to provide the focus later in the global day, with the American Petroleum Institute set to report its weekly oil-inventory data at 4:30 p.m. U.S. Eastern time.

The more closely watched Department of Energy data were due out Wednesday morning.

Among other energy futures, February heating oil /quotes/zigman/2202758 HOG3 +0.40% ?slipped fractionally to trade at $3.06 a gallon Tuesday in Asia, while February gasoline /quotes/zigman/2052319 RBG3 +0.12% ?lost a penny to sit at $2.74 a gallon.

/quotes/zigman/2291766

US : U.S.: Nymex

Volume: 19,958

Jan. 15, 2013 5:10a

/quotes/zigman/2735831

UK : U.K. ICE Futures Europe

Volume: 16,787

Jan. 15, 2013 10:10a

/quotes/zigman/1652083

US : U.S.: ICE Futures U.S.

Volume: 0.00

Jan. 15, 2013 5:10a

/quotes/zigman/2202758

US : U.S.: Nymex

Volume: 1,175

Jan. 15, 2013 5:10a

/quotes/zigman/2052319

US : U.S.: Nymex

Volume: 1,362

Jan. 15, 2013 5:10a

Michael Kitchen is Asia editor for MarketWatch and is based in Los Angeles.

Source: http://www.marketwatch.com/news/story.asp?guid=%7BA95F88E8-5ED9-11E2-AD22-002128040CF6%7D&siteid=rss

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Lucas Martins thought his manager was pranking him about UFC on FX 7 debut

Lucas Martins is making his UFC debut at UFC on FX 7 on Saturday night as a late add to the card. Justin Salas was injured in training around New Year's Eve, and Martins didn't believe it when he got the call to fill in. He told MMA Junkie he thought his management was pranking him.

"It was New Year's Day," Martins said. "I could not believe my management and the UFC were working on New Year's Day. When they called I thought, 'Is this a joke? This is New Year's Day. No one is working. They are recovering from the celebration."

Now, that would be a mean joke. Hey, Lucas your dream has just come true! Call your friends, your family and everyone who has ever helped you get to the UFC ... oh wait. We're kidding. Pretty sure I'd fire my manager for a joke like that.

But Martins' record is no joke. He's 12-0, and won the last six fights by knockout or submission, making him an interesting test for Edson Barboza.

Source: http://sports.yahoo.com/blogs/mma-cagewriter/lucas-martins-thought-manager-pranking-him-ufc-fx-173333471--mma.html

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Governor plans to sue NCAA over Penn St. sanctions

FILE - In this Nov. 10, 2011 file photo, Pennsylvania Gov. Tom Corbett makes remarks during a news conference after a Penn State Board of Trustees meeting in State College, Pa. Corbett said Tuesday, Jan. 1, 2013 he plans to sue the NCAA in federal court over sanctions imposed against Penn State in the wake of the Jerry Sandusky child sexual abuse scandal. (AP Photo/Matt Rourke, File)

FILE - In this Nov. 10, 2011 file photo, Pennsylvania Gov. Tom Corbett makes remarks during a news conference after a Penn State Board of Trustees meeting in State College, Pa. Corbett said Tuesday, Jan. 1, 2013 he plans to sue the NCAA in federal court over sanctions imposed against Penn State in the wake of the Jerry Sandusky child sexual abuse scandal. (AP Photo/Matt Rourke, File)

HARRISBURG, Pa. (AP) ? Gov. Tom Corbett scheduled a news conference for Wednesday to announce the filing of a federal lawsuit against the NCAA over stiff sanctions imposed against Penn State in the aftermath of the Jerry Sandusky child sex abuse scandal.

The news conference announcing the filing in U.S. District Court in Harrisburg was set to be held at the university's State College campus.

A person associated with the university and knowledgeable about the matter told The Associated Press that it is an antitrust action. The person spoke on condition of anonymity because the lawsuit hasn't been filed.

The university agreed in July to the sanctions, which included a $60 million fine that would be used nationally to finance child abuse prevention grants. The sanctions also included a four-year bowl game ban for the university's marquee football program, reduced football scholarships and the forfeiture of 112 wins but didn't include a suspension of the football program, the so-called death penalty.

In announcing the news conference, Corbett, a Republican, did not indicate whether his office coordinated its legal strategy with state Attorney General-elect Kathleen Kane, who is scheduled to be sworn in Jan. 15.

Kane, a Democrat, ran on a vow to investigate why it took state prosecutors nearly three years to charge Sandusky, an assistant under legendary football coach Joe Paterno. Corbett was the attorney general when that office took over the case in early 2009 and until he became governor in January 2011.

State and congressional lawmakers from Pennsylvania have objected to using the Penn State fine to finance activities in other states. Penn State has already made the first $12 million payment, and an NCAA task force is deciding how it should be spent.

The NCAA, which declined to comment Tuesday on the planned lawsuit, has said at least a quarter of the money would be spent in Pennsylvania.

Republican U.S. Rep. Charlie Dent called that an "unacceptable and unsatisfactory" response by the NCAA to a request from the state's U.S. House delegation that the whole $60 million be distributed to causes within the state.

Last week, state Sen. Jake Corman, a Republican whose district includes Penn State's main campus, said he plans to seek court action barring any of the first $12 million from being released to groups outside the state.

Sandusky, 68, was convicted in June on charges he sexually abused 10 boys, some on Penn State's campus. He's serving a 30- to 60-year state prison term.

Eight young men testified against him, describing a range of abuse they said went from grooming and manipulation to fondling, oral sex and anal rape when they were boys.

Sandusky did not testify at his trial but has maintained his innocence, acknowledging he showered with boys but insisting he never molested them.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/386c25518f464186bf7a2ac026580ce7/Article_2013-01-02-Penn%20State-Abuse-Lawsuit/id-bab21c760f4544148fbb35807092da44

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The Daily Roundup for 1.1.2013

You might say the day is never really done in consumer technology news. Your workday, however, hopefully draws to a close at some point. This is the Daily Roundup on Engadget, a quick peek back at the top headlines for the past 24 hours -- all handpicked by the editors here at the site. Click on through the break, and enjoy.

Continue reading The Daily Roundup for 1.1.2013

Comments

Source: http://www.engadget.com/2013/01/01/the-daily-roundup-for-1-1-2013/

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Happy New Years from Alpine Physical Therapy ? Health and ...

Welcome to Health and Fitness 101, a blog for people who enjoy the Montana lifestyle.
The aim of our blog is to interpret, distill, and then deliver to you the threads that bind physical medicine with applicable health and fitness ideas and principles.
It's all about helping to connect the dots that foster optimal human function and, ultimately, superior performance. Feel better. Perform better.

Source: http://healthandfitness101.com/?p=3469

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Report: The TV Revolution Is Here, and It's Led By... Intel?

Google tried it and failed. Microsoft's spent years putting pieces in place with Xbox, but it hasn't gotten there yet. And if you believe the rumors, Apple's been working on it in secret for years. But the living room revolution we've been waiting for won't be coming from the big three, according to a report from TechCrunch. More »

Source: http://feeds.gawker.com/~r/gizmodo/full/~3/DHmG88Vycy4/report-the-tv-revolution-is-here-and-its-led-by-intel

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I See An Elephant Raising Taxes (OliverWillisLikeKryptoniteToStupid)

Share With Friends: | | Politics - Top Stories News, News Feeds and News via Feedzilla.

Source: http://news.feedzilla.com/en_us/stories/politics/top-stories/274217534?client_source=feed&format=rss

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