Market And Energy News, T+24, February 13, 2017

The Market Close

 Apple shares close at all-time high. 

S & P 500 tops $20 trillion as Wall Street trades Trump.

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Early Afternoon Trading

Dow Jones Industrials: up almost 200 points. This is absolutely insane. In a good way. 

NYSE:

• new highs, 228: the banks; CNP, Deere, Honda, Norfolk Southern, Tallgrass Energy Partners,
• new lows, 4 -- yup, just four

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Mid-Morning Trading

The Dow Jones Industrials average is up 133 points, now over 20,400. This is clearly more than anticipation of "tax breaks." This is all about the Trump administration believe in making America great again, and it's not just based on "tax cuts":

• cheap, accessible energy
• foreign leaders beating a path to Washington to look for investment opportunities in the US
• regulatory relief (especially in bank stocks)
• tax breaks (only a small part of all of this)
• ObamaCare -- whatever happens -- won't cost corporations more
• immigration policy will have counterintuitive effect on minimal wages: all things being equal, by the end of 2017, certainly by 2018, we should see significant increase in average wages being paid in US
• the "make-up" of the Federal Reserve Board will change in the next few months 
• BREXIT; FREXIT?; Greece crumbling; Venezuela crumbling; bonds in Germany returning negative rates

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 It Only Took Four Years

Alberta Clipper, story here, with byline from Bismarck, ND, data points:

• four-year review
• Enbridge Energy Partners
• process began in 2012
• goal: to transport 800,000 bopd on an existing 3-mile section of pipeline on the company's Alberta Clipper pipeline 
• carries tar sand oil from Canada across northeastern ND and northern Minnesota to Superior, WI

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US Crude Oil Production Forecast

 
With all the talk about the Permian recently, let's see what the EIA forecasts. Today, via Twitter, from 
EIA:

In addition, the following graphic was posted by the EIA earlier this year, August 22, 2016:

Note the amount of dark blue (Bakken) vs the Wolfcamp (blue).

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The Opening: Since the election: $2 trillion added. Dow easily hits 20,330. Up 2,000 points since the election.S&P hits a record high, 2,322. NASDAQ hits record high, 5,752.  Another triple-digit jump on the Dow today? [Yup, a few minutes later, up 103 points, though it has dropped back a bit.]

NYSE:

• new highs, 184 in early trading: banks across the board; CNP, Deere, 
• new lows, 0.

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Futures

Futures: suggest opening at all-time high for all three indices. Again.

OPEC: must be in a world of hurt. Asking non-OPEC producers to decrease production. Story here.

Wind: North Dakota becoming a powerhouse. Story here.

Texas is the leader in producing wind energy -- last year, it became the first state to surpass a capacity of 20,000 megawatts. Of the 41 states that have wind farms, North Dakota ranked fourth in terms of installation of wind energy.