Energy News Beat: 1/6/2021

Markets split after it appears Democrats will win both Senate seats in GA, moving Dow Jones higher off fresh stimulus hopes while tech stocks loss amid what could be changing regulations for them with a now blue Senate. The small-cap benchmark Russell 2000 jumped 3.7%. Industrial giant Caterpillar surged 5.5%.

• S&P 500: 0.65%
• Nasdaq: -0.96%
• Dow Jones: 1.32%

“In the immediate term, markets are pricing in more stimulus. From an equity standpoint, that means tech underperformance and cyclical/value outperformance,” Tom Essaye, founder of Sevens Report, said in a note. “The biggest takeaway from the Democrats win is more power behind the cyclical/value/higher rates trade.” On the data front, private payrolls fell 123,000 in December, marking the first contraction since the early days of the pandemic, according to a report from ADP. Economists surveyed by Dow Jones had been expecting growth of 60,000.

Crude Oil and Natural Gas News
Crude oil prices stays above $50 about 8 million bbl draw from the EIA shocks the market, bringing oil to $50.94 before settling around $50.31 later in the trading session. Weather driven natural gas markets drives prices slightly higher and an expectation of a draw in tomorrow’s storage report. Natural gas prices currently around $2.718

US Energy News
• Latest EIA stock data..
• EQT hedging update
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• New Kurdistan oil minister

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