Daily Energy Market Show With Michael Tanner 2-19-21

Major indices fall after weak jobs data and a miss in Walmart earnings

• S&P 500: -0.52%
• Nasdaq: -0.73%
• Dow Jones: -0.44%

Walmart shares dropped nearly 6% after its fourth-quarter earnings fell short of Wall Street estimates. First-time filings for unemployment insurance totaled 861,000 last week, the highest level in a month and above the Dow Jones estimate of 773,000, the Labor Department reported Thursday.

“This is not the direction that you want to see jobless claims go but keep in mind this could be a small bump in the road as the pace for vaccinations continues to accelerate and cases are down across the country,” said Mike Loewengart, chief investment officer at E-Trade Financial.

Crude Oil and Natural Gas News
Crude oil prices fall over 2% today amid the dollar getting stronger and expected OPEC increase in production, with crude oil prices settling around $59.88. Natural gas prices lose 5% as demand begins to taper off from TX and OK, with natural gas prices currently trading around $3.082

US Energy News
• Ovintiv earnings
• Bonanza Creek earnings
• Southern Company earnings
• Antero earnings
• Natural gas stocks -237 bcf

International Energy News
• Saudi to raise oil prices
• Brent nears $65
• China wants rare earth minerals