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close video S&P 500 could break out to new highs if tech cooperates: JC Parets

Seaport Securities founder Ted Weisberg and All Star Charts founder JC Parets discuss whether the breadth of the stock market is getting more positive or negative on ‘The Claman Countdown.’

The U.S. economy rose 1.1% in the first quarter, falling short of estimates, in a sign that a slowdown is underway. 

It is also a big pullback from the fourth quarter's 2.6% rise and the third quarter's 3.2% increase, according to the final estimate from the Bureau of Economic Analysis.

The read may present a conundrum for the Federal Reserve and Chairman Jerome Powell, who frequently touts being data dependent, heading into next week’s May meeting.  Choppy Economic Data Points

Durable Goods March: +3.2

Retail Sales March: -1.0%

Consumer Confidence April: 9-month low

Economic activity has been choppy, at best, in recent weeks. 

Durable goods orders for March rose 3.2%, the first increase in three months, blowing past expectations of just 0.7% growth. However, spending at retail stores indicated the consumer has dialed back on spending. Retail sales fell 1% in March from the prior month, more than economists expected. Excluding autos, sales slipped 0.8%. 

Consumer confidence, tracked by the Conference Board, slipped to a nine-month low in April. Ticker Security Last Change Change % UPS UNITED PARCEL SERVICE INC. 174.59 +2.02 +1.17%

Additionally, shipping giant UPS, a solid barometer of economic growth, gave a murky economic outlook this week. 

"I think there's been a shift from goods to services that's going on. And with those macro indicators and with the shift in the consumer confidence that we saw in the first quarter, you enter an environment where there's going to be softer volume and it was falling from January to February" UPS CFO Brian Newman told FOX Business, following the delivery giant’s earnings report. 

AMAZON JOB CUTS TO BEGIN THIS WEEK

Plus, large corporations including Disney and Amazon, began cutting thousands of workers this week, with the two power players expected to cut a combined 34,000 jobs over the next few months, with some already completed. Ticker Security Last Change Change % DIS THE WALT DISNEY CO. 98.02 +1.42 +1.46%AMZN AMAZON.COM INC. 109.09 +4.11 +3.92%

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Policymakers will make their next interest rate decision on May 3 with the futures market currently predicting a 76% chance of a 25-basis point rate hike, lifting rates to between 5%-5.25%, as tracked by the CME’s Fed Watch Tool. 

This is a developing story. Please check back for updates.

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Science

NASA to Launch First Quantum Sensor for Gravity Monitoring in Space

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NASA to Launch First Quantum Sensor for Gravity Monitoring in Space

NASA’s Jet Propulsion Laboratory, commercial companies, and academic institutions together are developing the first space-based quantum sensors for gravitational measurement. Two groups of very cold rubidium atoms will be used as weights for the Quantum Gravity Gradiometer Pathfinder (QGGPf) instrument, ensuring accurate measurements over long periods. Measuring gravity with a volume of 0.3 cubic yards (0.25 cubic meters) and weighing just over 275 pounds (125 kg), the instrument will be smaller and lighter than conventional space-based gravity instruments.

Quantum sensors offer enormous promise for sensitivity; estimates suggest they could be as much as ten times more sensitive in tracking gravity than conventional sensors. Approved to begin at the end of the decade, the technology validation project aims to test novel atomic-scale atomic manipulation of interactions between light and matter. To progress the sensor head technology and the laser optical system, NASA is working with small companies. The QGGPf instrument could lead to planetary science and fundamental physics applications.

NASA’s Quantum Gravity Sensor to Reveal Earth’s Subsurface

According to a NASA post, the Jet Propulsion Laboratory, private companies, and academic institutions are developing the first space-based quantum sensor for measuring gravity. This mission, supported by NASA’s Earth Science Technology Office (ESTO), will pave the way for groundbreaking observations of everything from petroleum reserves to global supplies of fresh water. Its gravitational field is dynamic and changing every day as geologic processes distribute mass throughout its surface. Sensitive instruments called gravity gradiometers can map the subtleties of Earth’s gravitational field and link them to belowground structures such as mineral deposits and aquifers.

The Quantum Gravity Gradiometer Pathfinder (QGGPf) instrument will use two clouds of ultracold rubidium atoms as test masses. The difference in acceleration between these matter waves will measure the difference in acceleration between these matter waves to locate gravitational anomalies. This system allows for space-based gravity measurements to remain accurate over long periods and is smaller and lighter than traditional space-based gravity instruments.

NASA Tests Atomic-Scale Tech to Advance Space Sensors and Earth Science

The main purpose of this technology validation mission is to test a collection of novel technologies for manipulating interactions between light and matter at the atomic scale. With JPL partnering with AOSense and Infleqtion to enhance sensor head technology and NASA’s Goddard Space Flight Center working with Vector Atomic to advance the laser optical system, the project involves notable partnerships between NASA and a few quantum-focused entrepreneurs.

Ultimately, the findings of this Pathfinder project might increase our capacity to explore Earth, understand far-off worlds, and value the role gravity plays in creating the universe.

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Science

NASA’s Hubble Shares Detailed Mosaic of the Sombrero Galaxy

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NASA’s Hubble Shares Detailed Mosaic of the Sombrero Galaxy

NASA’s Hubble Space Telescope, on its 35th anniversary, reprocessed a detailed image of the Sombrero Galaxy (Messier 104) on April 11, shared by the European Space Agency. This improvised image, generated from numerous Hubble images, signals fine dust structures, the luminous galactic nucleus with a backdrop occupied by stars and various distant galaxies. This mosaic, taken from the updated data and refined processing techniques, makes it a significant upgrade to previous Hubble observations. This release marks a milestone in the so-far legacy of the Hubble Space Telescope, showcasing the evolution of modern techniques and escalation into archival space imagery.

Research and Discovery

Katie Noll and other scientists of the European Space Agency worked in collaboration with NASA using the Hubble Space Telescope. New imaging technology and methods were used to build upon the original Hubble image released in October 2003. On November 25, 2024, the James Webb Space Telescope also offered a fresh image and perspective on the galaxy, further enriching the research.
The Sombrero Galaxy is located about 30 million light years away in the Virgo constellation and is renowned for its unique shape that resembles a sombrero hat. Its sharp and edgy orientation, titled just six degrees, throws a dramatic view with a dust-laced disc and a brightening central bulge.

Structure and Star Formation

In terms of star formation, the Sombrero Galaxy is visually rich but surprisingly calm. Within its dusty disc, less than one solar mass is transformed into stars every year. This galaxy is so silent that even its massive black hole, with a weight of nine billion solar masses, stays inactive or dormant. Looking into the structure of the galaxy, it is baffling as it displays the classic disc of spiral galaxies.
However, it also features a halo and bump similar to those of elliptical galaxies. This uneven combination leaves scientists unsure of whether it should be kept in the category of elliptical or somewhere in between.

Future Exploration

The crucial part is analysing the chemical composition of stars in the galaxy’s halo. In the precise measurements done by Hubble there revealed an astonishing presence of metal-rich stars was revealed in its outer region. Researchers believe that the Sombrero Galaxy could have blended with other large galaxies billions of years ago, resulting in the mysterious hybrid structure observed in the present.

Scientists are looking forward to fusing Hubble’s optical data with infrared imaging from the James Webb Space Telescope for future investigation of the galaxy’s structure. This multi-wavelength research could unleash deeper insights about its formation and clarify how galaxy mergers can shape its evolution.

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Politics

Who’s nicer – Lords or MPs?

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Who's nicer - Lords or MPs?

👉 Click here to listen to Electoral Dysfunction on your podcast app 👈

The two baronesses of the podcast finally lift the lid on the House of Lords in this special Q&A episode. What’s it really like on the red benches in parliament? And if you’re a Lord, are you a has-been?

Also – was Tony Blair actually cool in the 90s? Or was it just a more optimistic time in politics?

Come and join us LIVE on Tuesday 20th May at Cadogan Hall in London, tickets available now: https://www.aegpresents.co.uk/event/electoral-dysfunction-live/

Remember you can also watch us on YouTube!

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