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11Feb2021 Pre-Market Commentary: Market Appears On Its Way To Open Flat

Global markets are mixed this morning with only small movements up or down. Gold is trending up, oil is mixed, and bitcoin is also trending up.
Here is the current market situation from CNN Money
European markets are mixed today. The DAX is up 0.52% while the FTSE 100 gains 0.06%. The CAC 40 is off 0.36%.
What Is Moving the Markets
Here are the headlines moving the markets.
How Much Higher Can Oil Prices Go?
Oil prices have rallied back to the point they are almost ready to match pre-Covid levels. There are two key drivers for this miracle, which no one predicted early on as being possible in this period of time. The first is the production curbs by U.S. producers and of course, the millions of barrels of oil per day withheld by the OPEC+ cartel. The second is recovering demand, putting-so far, slight pressure on supplies, and creating a market condition known as Backwardation. A market condition where the future price of a commodity

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11Feb2021 Midday Update: Wall Street In The Green, DOW Flat +10 Points At 12 Noon ET, Nasdaq +0.5%, WTI Crude 58.52, Bitcoin At 47870

Jobless claims worse than expected as pandemic-related filings surge (SPY +0.2%). DOW records new historic high then slips to the unchanged line.
Here is the current market situation from CNN Money
North and South American markets are mixed today. The Bovespa is up 1.09% while the S&P 500 gains 0.18%. The IPC is off 0.46%.
What Is Moving the Markets
Here are the headlines moving the markets.
IEA: OPEC+ To Further Ease Cuts Amid Quickly Drawing Oil Stocks
While the oil market rebalancing looks fragile in the first quarter of 2021, global oil stocks are expected to rapidly draw down in the second half of this year as demand rises, setting the stage for OPEC+ to ease production cuts even if higher prices tempt producers from outside the group to boost output, the International Energy Agency (IEA) said on Thursday. This year, world oil demand is expected to grow by 5.4 million barrels per day (bpd) compared to 2020, the agency said in its closely-watched Oil Market Report for February. Thats

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