NPR 2011-02-02

Under nightfall, demonstrations 2 show no signs of abating 3 in Egypt. In the largest demonstration 1 yet since the uprising against President Hosni Mubarak started over a week ago, hundreds of thousands of people have flooded Cairo's Tahrir Square. They want Mubarak to resign. The revolt has inspired similar protests in other countries in the region. From Jerusalem, NPR's Philip Reeves reports that Israel's Prime Minister Benjamin Netanyahu has just issued a statement about the potential huge implications mass protests in Egypt will have on the Middle East.

Israel is watching the multitude protesting on the streets of Egypt with deep anxiety. Its leaders are worried that if President Hosni Mubarak is ousted 4, Israel's peace agreement with Egypt might unravel 5. For more than 30 years, that treaty's been the cornerstone of Israel’s strategy. When the protests began, Israel quietly urged its Western allies not to undermine Mubarak. Now Prime Minister Netanyahu for the first time has expressed support for Egypt's protesters, saying he encourages the advancement 6 of democratic values in the Middle East. Netanyahu also appeals to the international community to demand that any future Egyptian government preserves the peace treaty with Israel and he warns to the dangers of Egypt falling into the hands of Islamic radicals 7, as happened, he says, in Iran. Philip Reeves, NPR News, Jerusalem.

Well, much of the United States works its way through heavy snow and ice. Some of the coldest air in several years is pouring into the Great Plains from Canada today. South Dakota Public Broadcasting’s Gary Ellenbolt has details.

Many areas of the Northern Plains have been under wind chill warnings since Monday. In northwest South Dakota, Harding County Emergency Management Director Kathy Glines says she recorded a wind chill rating of 56 below zero earlier today. But Glines says the ranchers and other workers in the area aren't stopping for conditions.

"It's pretty much businesses as usual. We are seeing a flow-down of traffic on our state highways. Of course, we have a lot of truck traffic, but a lot of officers joined up. The diesels 8 are struggling."

Glines says she had to use another method to determine the wind chill this morning since her wind indicators 9 bottomed out at 40 below zero. The National Weather Service says potentially life-threatening wind chill conditions could cover South Dakota and much of the plains tonight. For NPR News, I’m Gary Ellenbolt in Vermillion, South Dakota.

US stocks are surging with the Dow poised 10 to close above 12,000 for the first time since 2008. So far the Dow is up 1.2% at 12,032. The NASDAQ’s gain is nearing 2% at 2,751. The US market’s apparently 11 buoyed 12 by strong manufacturing data. The Institute of Supply Management says the sector 13 expanded in January at its fastest pace in nearly 7 years.

This is NPR News.

The 2010 construction spending numbers are up and they are at a 10-year low, down more than 10% compared to 2009. December activity is down from November as well. But as Danielle Karson reports weather may be part of the reason.

There's hardly a ripple 14 in construction activity for December. Figures show government projects including schools down almost 3% and private building jobs like shopping centers down 2%. But the weak numbers don’t necessarily mean the construction business has taken a turn for the worse. IHS Global Insight economist 15 Patrick Newport blames Mother Nature.

"We have one of the coldest Decembers in the South, one of the snowiest Decembers in the Northeast, so I think the weather can probably explain the bad construction numbers that we see across the board.”

With millions of foreclose properties on the housing market, analysts 16 say home builders face a bumpy 17 road this year as well. And Newport says public works projects are likely to drop off as government stimulus 18 funds disappear. For NPR News, I'm Danielle Karson in Washington.

Citigroup is now in charge of EMI, the music label of dozens of acts including the Beatles. It took over from Terra Firma which was close to defaulting on nearly 5.5 billion dollars in money it borrowed to buy EMI in 2007. Citigroup agreed to cut the debt by 65%.

Strong earnings 19 reports out today from UPS, Pfizer and agriculture's Archer 20 Daniels Midland, all beating Wall Street expectations, certainly factors in today's surge at the markets. At last check the Dow was up 141 points or over 1% at 12,034.