Equities have been most sideways in today’s session but are off the highs from this morning. The Nasdaq and the DOW are at record highs. Commodities are gaining strength.  Chevron (CVX) was upgraded at a couple of firms this morning and is trading at a six-month high and helping lift others in the space. Energy is the best performing sector today, up over 3%. WTI is up a half a percent to $53.15 per barrel.  

Fed Chair Powell is still speaking, which has not really moved the markets in any significant direction, as he stressed that there will not be an increase in the fed funds rate anytime soon. The 10-year U.S. Treasury is relatively flat and trading at 1.09%.  Bitcoin however is gaining again after being down the last couple of days.  Real estate and Financials are the next best performers.

President Elect Biden will show case his infrastructure plans tonight at 7:30pm ET.  He should ask for the moon, especially in light of the current circumstances and mood of the nation when it comes to Congress.  Industrials are moving in anticipation.

Technology is lagging today, although semiconductors are continuing to move higher hitting record highs. FAANG is generally lower with Amazon (AMZN) hitting resistance at its 50-day moving average and FB is below it 200-day.