Something Tells Me The Market Has Room To Run -- Updated -- April 1, 2021

This was posted earlier: 

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For Investors Only

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Major indices, at the close:

• S&P 500: 4,019.87; 52-week range, 2,456 - 4,021. NEW HIGH?
• Dow 30: 33,153.21; 52-week range, 20,735 - 33,259.
• NASDAQ: 13,480.11; 52-week range, 7,288 - 14,175.
• Russell 2000: 2,253.90; 52-week range, 1,035 - 2,360.

Individual:

• CVX: 105.76; 52-week high, 113.
• COP: 54; 52-week high, 61.
• XOM: 57.39; 52-week high, 62.55.
• OKE: 51.35; 52-week high, 51.91.
• ENB: 36.83; 52-week high, 37.31.
• EPD: 22.27; 52-week high, 23.71.
• KMI: 16.84; 52-week high, 17.97.
• MNRL: 15.71; 52-week high, 17.05

WTI: up 3.87% today; up $2.29; closed at $61.45.

Headlines:

• Big Oil "beats" NYC appeal on climate change lawsuit. 😀
  
• Saudi Aramco's falling profits put vision 2030 in jeopardy. Crocodile tears.
• XOM to beat previous guidance
  

Social media:

• $2 trillion infrastructure bill could rise to $10 trillion if progressives push it through;
• energy analysts with good track records suggesting we will see $200-oil by end of year (2021);
• Saudi Arabia looking to raise production: not stated -- seasonal; Saudi Arabia burns oil for a/c;
• other OPEC+ members want to raise production to cover increased local demand
• YOLO, FOMO, YHSAY (or YHNSAY)

Now this from Breitbart:

The S&P 500 closed above 4,000 for the first time in history ... stocks are now enjoying the boost from the third round of stimulus spending, a Fed that promises to be supportive for years to come, vaccinations spreading to ever-larger segments of the population, and an economy that is out-performing almost everyone's expectations.

Thursday's ISM Manufacturing Survey was the latest piece of evidence that the economy is firing on all cylinders. The headline number jumped to the best reading since 1983, with strong readings in new orders, production, and employment.

The numbers were so strong that they are feeding into fears that the economy could overheat and produce too much inflation.

In the anecdotal portion of the ISM report, many executives complained about the soaring costs of raw materials—which could be an early warning of inflation to come or a transitory price jump reflecting the economy's lurch from a sudden stop to a tire-screeching relaunch.

There are still danger signs outside of inflation. Economists had forecast that the initial jobless claims number released Thursday would indicate continued improvement in the labor market, with a median estimate of 675,000 claims. Instead, claims moved up to 719,000. And the total number of people claiming unemployment benefits remains staggeringly high at more than 18 million.

Tomorrow's monthly jobs report is expected to show a tidal wave of hiring, with 650,000 workers added to payrolls and unemployment falling to 6 percent. Goldman Sachs is projecting 775,000, and the top of the range of estimates by analysts surveyed by Econoday is one million. Anything topping that upper estimate would be good news for workers but likely would further stoke fears of inflation.