3 years ago

"Don't Mess with Texas" Texas deep freeze cannot keep stocks from opening at all time highs, with major indices losing steam toward the latter half of the trading session.

• S&P 500: 0.00%
• Nasdaq: -0.11%
• Dow Jones: -0.38%

Many on Wall Street believe that surging interest rates could make the high-flying equity markets less attractive, while posing a threat to sectors like tech that have benefitted from the low-rate environment. On Tuesday, the 10-year Treasury yield topped 1.25% for the first time since March and jumped 8 basis points to hit a fresh one-year high of 1.28%.

“Higher yields, while good for banks, are hitting the bond surrogate sectors like REIT’s, Utilities and Staples,” said Art Hogan, National Securities chief market strategist. “The market can digest rising yields, especially when they are going up for the right reason, but not when they go up in a linear fashion.”

Crude Oil and Natural Gas News
“Baby its collllllllld outside” – Oil and gas prices have been ROCKED by frigid temperatures, with oil trading flat today but rising over $60, with crude oil prices currently trading around $59.94. Natural gas prices LOVE this cold weather, driving the front month natural gas price up to $3.132

US Energy News
• Oil refiners down
• 5 million without power in TX
• Renewables vs natty gas
• Frozen wind farms

International Energy News
• Germany seeks deal with Biden
• Ira building oil storage in China

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