23Apr2021 Market Close: U.S. Oil Rig Count Declines For The First Time In Six Weeks, WTI Settles At 62.11, DOW Up 228 Points, Nasdaq Up 1.4%, SP 500 Records New High Closes Up 1.1%

Written by Gary

U.S. COVID vaccinations slow as more states pass half of residents jabbed (SPY +1.1%). March 2021: New home sales significantly improve.

The Market in Perspective

Here are the headlines moving the markets.
	Bullish Oil News Offset By New Lockdowns In India Oil demand is finally bouncing back but a new COVID spike in India could threaten the rebound.For more great energy content, make sure you subscribe to the Oilprice youtube channel for breaking news and analysis.Friday, April 16th, 2021Oil prices held on at the end of the week, set to close out mostly flat from a week earlier. Oil prices are trapped between horrific downside risks, mostly in India, offset by growing optimism in the U.S. and to a lesser extent in Europe.Indias oil demand in doubt. India posted several days of record-setting
	Houthis Claim Drone Attack On Saudi Aramco Oil Facility The Iran-aligned Houthi movement in Yemen targeted with a drone a facility of Saudi Aramco in the southwestern Saudi city Jizan, a military spokesman for the rebels wrote on Twitter, as carried by Reuters. The Houthis also targeted the King Khalid air base with two drones, the spokesman said. Saudi Arabia has not yet confirmed a drone attack on the Jizan facility. The official Saudi Press Agency reported on Friday that the Secretary General of the Organization of Islamic Cooperation (OIC), Dr. Yousef bin Ahmad Al-Othaimeen, strongly condemned
	U.S. Oil Rig Count Declines For The First Time In Six Weeks Baker Hughes reported on Friday that the number of oil and gas rigs in the United States decreased by 1 this week, bringing the total rig count to 438. In the week prior, the U.S. oil and gas rig count increased by 7. The total number of active oil and gas drilling rigs in the U.S. is now just 27 fewer than this time last year. The oil rig count decreased by 1 this week, bringing the total oil rig count to 343 this week. The number of gas rigs stayed the same at 94. The number of miscellaneous rigs also stayed the same. The EIAs estimate
	Record COVID Cases In India Could Threaten Global Oil Demand Demand for fuel in the worlds third-largest oil importer, India, is crashing amid record new daily COVID cases that lead to tightening restrictions and could slow the global oil demand recovery that the market and OPEC+ were expecting. For the second day in a row, India reported on Friday the highest single-day increase in COVID cases anywhere in the world since the pandemic started. The biggest cities in India are on lockdown again this month, when the surge in infections started to overwhelm hospitals. The mobility restrictions are also
	Russia Withdraws Troops From The Ukrainian Border Under the guise of snap inspections” and military drills, Russia has been amassing troops in Crimea and on the Ukrainian border, sparking fears of a Russian invasion and direct confrontation with the U.S. On Thursday, orders were given to start withdrawing troops, indicating that an escalation has been avoided–for the time being. Fears of a Russian invasion of Ukraine are constant, and founded; however, determining the probability is likely best achieved by monitoring Zelenskys next move in Donbass. What changes things is
	Why The Outlook For Oil Prices Shifted This Week A couple of weeks ago, I wrote here that crude was stuck in a range and would probably remain so until something drastic happened to change fundamental conditions and expectations. I also said that until that came, I would be trading with a long bias, which worked out pretty well. Over the ensuing week, CL gained around 8%… This week, however, has been a different story. It started out okay, with CL bouncing off a lower opening to consolidate those gains, but that all changed on Tuesday, when oil dropped on a report of progress with a proposed
	How to watch the 2021 Academy Awards without cable The 93rd Academy AwardsÂ are set to kick off Sunday at 8 p.m. ET on ABC.
	From stimulus checks to pandemic busts: How investors will gauge earnings in the quarters ahead Investors will have to tune out noise from pandemic tailwinds and stimulus checks to judge if a business is performing well in the coming quarters.
	MIT researchers say you’re no safer from Covid indoors at 6 feet or 60 feet in new study challenging social distancing policies The CDC and WHO guidelines fail to factor in the amount of time spent indoors, which increases the chance of transmission the longer people are inside.
	ESPN to air Marvel-themed NBA game on May 3 featuring Warriors, Pelicans The game’s traditional NBA broadcast will air on ESPN, and the Marvel game will be available on the network’s ESPN2 channel and streaming service.
	L Brands’ Victoria’s Secret reportedly back in sale talks targeting higher valuation L Brands is back in sale talks with potential buyers for its Victoria’s Secret lingerie brand, according to a report, and it is seeking a higher valuation.
	Doctor on CDC panel sees ‘huge amount of evidence’ that J&J Covid vaccine benefits outweigh risk “I think there’s a huge amount of evidence that the benefit greatly outweighs this risk” when it comes to the J&J Covid vaccine, Dr. Wilbur Chen told CNBC.
	Watch live: CDC panel debates use of J&J Covid vaccine after rare blood clot issue A Centers for Disease Control and Prevention advisory panel is holding an emergency meeting Friday to debate the Johnson & Johnson Covid-19 vaccine.
	Offshore wind firm to work with researchers on recycling glass fibers to tackle blade waste The aim is to scale-up and commercializes a process developed by a team at the University of Strathclyde, in Scotland.
	Single dose of Pfizer-BioNTech or Oxford-AstraZenca vaccine reduces infection rate by 65%, study finds Researchers found that 21 days after a single dose of either the Oxford-AstraZeneca or the Pfizer-BioNTech vaccine, new Covid-19 infections had fallen by 65%.
	‘Nomadland’ leads the pack for best picture heading into the Oscars, but best actress award is wide open While more than two dozen awards will be presented this Sunday. Here’s a look at who could take home the prize in the top categories.
	U.S. Covid vaccinations slow as more states pass half of residents jabbed Average daily reported Covid vaccinations in the U.S. dipped below 3 million Thursday, after more than two weeks above that level.
	Presumptive top NFL draft pick Trevor Lawrence announces first endorsement deal ” with Gatorade The star-studded Clemson quarterback has signed his first endorsement deal, with sports drink maker Gatorade.
	Gymnast Simone Biles is leaving Nike to work with Gap’s Athleta brand Biles is going to have her own performance wear line, Gap said.
	Biden Informs Incensed Erdogan Of Armenian Genocide Recognition In Friday Phone Call Biden Informs Incensed Erdogan Of Armenian Genocide Recognition In Friday Phone Call On Friday President Biden informedÂ Turkish PresidentÂ Recep Tayyip Erdogan in a phone call that the White House willÂ formally recognize the Armenian genocide on Saturday. Biden is expected to for the first timeÂ specifically invoke the word “genocide” in theÂ Saturday commemoration of Armenian Genocide Remembrance Day, which will make him the first ever US president to do so.Â Via AP This has been among the most controversial topics in modern Turkish society, and throughout past decades, which is subject in some cases to criminal prosecution by the Turkish state. And it remainsÂ a Turkish ‘red line’Â for which all the country’s recent modern leaders have reacted fiercely at the mere suggestion, and whichÂ only thirty countries in the worldÂ officially acknowledge. The United States will now be the 31st, and likely more will follow the example of t …
	21 Remarkable Stats For ’21 21 Remarkable Stats For ’21 In his latest Flow Show report, Bank of America’s Chief Investment Strategist, Michael Hartnett has compiled 21 remarkable statistics for 2021, which we republish below. 1 billion: COVID-19 vaccines will be administered as of 24th April 2021 3 million: global deaths from COVID-19. 60 million: global deaths from all causes in 2019; global births 140 million. 14 million: US job gains since May’20, follows 22 million lost during COVID-19 pandemic. $30 trillion: global policy stimulus in ’20 & ’21 ($17tn fiscal + $13tn monetary). 201: central bank interest rate cuts since Feb’20 (989 since GFC). $1 billion: central banks purchased $1bn of financial assets every hour since Feb’20 ($21tn since GFC). $0.4 trillion: QE in ’22, down from $3.4tn in ’21 & $8.5tn in ’20. $78,591: US national debt per taxpayer in ’25 (debt to equal $27tn). 1%: global …
	6 Rioters Arrested For Defacing Central Park Monument In NYC’s Latest “Peaceful” Protest 6 Rioters Arrested For Defacing Central Park Monument In NYC’s Latest “Peaceful” Protest As far-left activists work to provoke as much public outrage as possible over the killing in Columbus, Ohio, of teenager Ma’Khia Bryant, the latest police-involved killing to make national news, a relatively small but determined crowd of rioters attacked NYC’s Columbus Circle Thursday night, defacing monuments while chanting “fk the police.” Ultimately, six people were arrested, including one protester who tried to flee in a cab, only for it to be surrounded by police. The arrests all took place near the USS Maine National Monument in Columbus Circle, which was defaced with graffiti reading “ACAB” – ie “all cops are bastards” – and “fk 12” which essentially means “fk the police.” In one magical one point, they group of about 100 protesters stopped outside the New York Times building in Times Square to shout “Fk the New York Times!” “Stonewall was a riot,” was also sprayed in pink font, according to the New York Post report on the riot. Video shared to social media showed a handful of protesters climbing the vandalized monument, which sits at the entrace to Centra …
	Wokeness Reaches The Final Frontier: NASA Shifts Focus To Space ‘Diversity’ Wokeness Reaches The Final Frontier: NASA Shifts Focus To Space ‘Diversity’ Authored by Simon Black via SovereignMan.com, Are you ready for this week’s absurdity? Here’s our Friday roll-up of the most ridiculous stories from around the world that are threats to your liberty, risks to your prosperity ¦ and on occasion, inspiring poetic justice. Drug overdose deaths surged during lockdowns The rate of US drug overdose deaths surged during the pandemic lockdowns, accounting for up to nearly 20,000 additional deaths. The CDC measures the number of US drug overdose deaths over the previous year. In September of 2019, 68,757 people had died of a drug overdose in the previous year. By September 2020, the number of deaths in the previous year rose to 87,203. The biggest leap in deaths (+3,643) occurred between April and May 2020 ” just after lockdowns began in most of the US. The CDC also notes that these numbers may be œUnderreported due to incomplete data. In other words, it’s likely that thousands more drug overdose deaths were ‘erroneously’ counted as COVID-19 deaths ¦ Click here to read the data from the CDC. NASA shifts goal from space exploration to space diversity NASA has been a driving force of scientific innovation and advancement ever since its creation in the 1950s. After more than six decades …
	Convicted Post Office workers have names cleared Judges quash convictions of 39 former postmasters after the UK’s most widespread miscarriage of justice.
	Post Office scandal: What the Horizon saga is all about The background to the case of sub-postmasters whose convictions were based on evidence from faulty IT.
	Postmaster’s widow: ‘I will never forgive them’ The convictions of 39 Post Office branch managers have been overturned, but for one family it is too little, too late.
	Palladium soars to within sight of $3,000 in record run Many analysts expect a further run towards $3,000 as automakers ramp up purchases of the metal, worsening a supply shortage.
	Equities to remain in suspended animation till Covid fog clears With the country’s positivity rate inching higher, investors remain concerned that ongoing state-wide restrictions will most likely be extended into May despite Prime Minister Narendra Modi’s assurance that a nation-wide lockdown is out of question.
	Bitcoin’s big selloff was a long time coming: Investors decode crypto’s massive slump While the digital token is known for its big price swings, this latest bout has been particularly head-spinning after the all-time high notched on April 14.
	16 April 2021 ECRI’s WLI Growth Rate Marginally Declines Written by Steven Hansen ECRI’s WLI Growth Index which forecasts economic growth six months forward was little changed and remains well into expansion. ECRI also released their coincident and lagging indices this week.
	March 2021 Headline New Home Sales Significantly Improve Written by John Lounsbury and Steven Hansen The headlines say new home sales significantly improved month-over-month. The overall sales-to-date in 2021 is better than any other year since 2006.
	: After COVID-19 shots, Oxford University develops world’s most effective malaria vaccine The vaccine against malaria has been shown to be 77% effective in providing protection against the mosquito-borne disease that kills 400,000 small children in sub-Saharan Africa every year.
	Market Extra: Which tech stocks can build on pandemic gains? Fund manager Ryan Jacob offers these two names. Fund manager Ryan Jacob has survived plenty of market crises. The Jacob internet Fund got its start in 1999 and is still going strong. He lays out two tech stocks for right now.
	: Global chip shortages to last 2 more years: Intel CEO New Intel Chief Executive Pat Gelsinger said on Thursday that supply constraints, and the œimmense investment needed to meet demand, mean that the chip shortages affecting the automobile industry and other sectors are likely to last two more years.