TGIF -- But It Sure Is Starting Off Slowly -- October 22, 2021

Updates

Later, 8:52 a.m. CT:

• S&P 500: hits another intra-day high, briefly, dropped back a bit; but overall market flat.
  
• tickers of interest
• AAPL: up slightly;
• XLNX: down slightly;
• UNP: up huge -- up $4.00 / share; up almost 2%; trading at 52-week high;
• BRK-B: I haven't looked at BRK-B in ages but it appears to have bounced back a bit
• DVN: surprising, up again, up about a percent
• EOG: interesting; up over 1%
• ARKK: down a percent;
  

Original Post

Opening gambit: it seems like Friday, today, is starting off slow, but something suggests that by the end of the day, could be a lot of news. Friday night news dump after 5:30 p.m. CT? I think SLB reports today. See sidebar at right for earnings post. At that site, calendar is linked here. Friday, today, a lot of banks and financial holdings will report. Others of interest to me

• AMEX, forecast $1.80
• Cleveland-Cliffs: beats by nine cents;
• SLB: forecast 36 cents;
• SLB: revenue misses but sees "favorable conditions"
• link here;
• EPS: 36 cents, exactly in line
• revenue: $5.85 billion vs forecast of $5.94 billion
• BKR, reported earlier:
• EPS: huge miss, 16 cents vs 22 cents forecast; the 22-cent EPS would have been an increase of 450% year/year
• revenue: another miss, $5.09 billion vs $5.35 billion forecast
• BKR down 10% in pre-market, Friday;
  

This all goes along with E&P not drilling a whole lot.

Spending bill: that seems to be weighing on the market.

Alec Baldwin: shoots and kills female director, Halyna Hutchins. Baldwin: questioned, released. That was fast. Sh*t happens, apparently. Back to filming. Let's go, Baldwin.

Reuters, others: our economy can handle $100-oil.

Best quip today: "Deep State" missed Chinese missile development and much else, but it knows future climate?

Note: Turkey and Iran are damning the Tigris and Euphrates rivers -- Iraq, say what? How did that happen? LOL. From my Air War College days, three factors affect the geopolitics in the Mideast:

• water
• oil
• the high ground

CNBC's best hour, looks like Jim Cramer has morning off:

• INTC drops 10%
• AMD and XLNX continue to surge;
• all of a sudden, Resident Biden likes the US military; says he could activate "national guard" for trucking;
• SecTrans on paternity leave, still?
• all of a sudden, folks are noting Apple's foray into chips; this has been going on since at least 2017;
• Apple transitioned seamlessly and quietly from a "fashion and entertainment" company to a "chip" company;
• child vaccines: CNBC optimistic; tea leaves: effort to immunize kids will fall flat;