The Dow And S&P 500 Hit All Time Highs (Again) -- NASDAQ Closes Just Below It's All-Time High -- WTI Moved Higher -- August 10, 2021

I've been traveling so I'm way behind. 

This simply blows me away:

• both the Dow and the S&P 500 closed at all-time highs again today; and,
• the NASDAQ closed just below its peak.

The business writers attributed these all-time highs to the fact that the US Senate passed the "bipartisan"  -- much could be said. 

NPR says "the bill (not yet passed by the US House) is a(n) historic piece of legislation that could reshape American lives for decades."

Oh, give me a break really?

At that same linked NPR article when the writer finally gets around to telling us what's in the bill, this is the #1 line item:
lawmakers set aside the largest share of the money, $110 billion for roads and bridges. That's going to "reshape American lives for decades"?

Moving on.

This is the "full" list of items that "reshape American lives for decades":

• $73 billion for electric grid and power infrastructure
• $66 billion for passenger and freight rail
• $65 billion for broadband investments
• $55 billion for water systems and infrastructure
• $50 billion for Western water storage
• $39 billion for public transit
• $25 billion for airports
• $21 billion for environmental remediation projects
• $17 billion for ports and waterways
• $15 billion for electric vehicles
• $11 billion for road safety

Really?

Look at these "headline" items in that package and tell me how that money will even be spent any time soon.

I just can't imagine this bill passed by the US Senate today had anything to do with the market.

However, having said that, US corporations (who wrote the bill) are now poring over the bill to start their strategic planning to start competing for this money.

CLR With Eight Oil And Gas Rigs In The Bakken; Crescent Point With Eight New Permits -- Things Are Happening -- August 10, 2021

Sorry for the delay. I've been traveling since last evening. 

Vaccine rollout, link here, posted by the CDC, 4:23 p.m. ET, Tuesday, August 10 2021:

• delivered: 408,325,135
• administered: 352,550,944
• at least one dose: 195,646,711
• fully vaccinated: 166,861,912

Active rigs: 

$68.49	8/10/2021	08/10/2020	08/10/2019	08/10/2018	08/10/2017
Active Rigs	23*	12	61	61	57

NDIC data above is not current. From the daily activity report: 23 active rigs --

• CLR (8): LCU Ralph, Tallahasseee (sic), LCU Ralph, LCU Ralph Federal, Candee, Jensen, Bice FIU, Bice
• Hess (3): BL-Olson, BB-State; EN-Zurich,
• MRO (2): Emiley; Mastel,
• Ovintiv: Rolla
• Eagle Operating: Ober,
• Petroshale: Anderson South
• Slawson: Muskrat Federal,
• Petro-Hunt: Dahl,
• Hunt: Blue Ridge
• RimRock: FBIR Johnson,
• Whiting: Lehr,
• Oasis Petroleum: Border,
• Bruin: FB Leviathan

Eight new permits, #38463 - #38470, inclusive --

• Field: Wheelock (Williams)
• Comments:
• Crescent Point Energy has permits for eight CPEUSC Riley Anne wells in SESW 25-156-98 and NENE 36-156-98; 
• the wells will be sited between 315 FLS and between 1415 FWL and 1490 FWL in SESW section 35-156-94; and, 
• between 310 FNL and between 1095 FEL and 1170 FEL in section 36-156-98

Two permits canceled:

• MRO: Baisch USA and Opal USA both in Dunn County;