It’s a mixed session with the Dow up, but well off its high, the S&500 relatively flat, and the Nasdaq has turned negative after each reached record highs intraday. Bitcoin is on a tear, and it was up above $50,000 before retreating a bit.  

On the S&P 500, only 5 sectors are in the green, with Energy outperforming again, as the latest cold and deep freeze has left some cities with blackouts.  WTI crude is near a one year high at  $59.94. The storms and cold weather have disrupted production in the US and caused many refineries to shut down.

Financials are the second-best performer as the benchmark U.S. 10-year Treasury trades up above 1.29%. This is the highest level in a year.  

The decline in new Covid-19 cases, coupled with more vaccine rollouts is helping the global economic recovery optimism and propel yields.  The Biden administration announced it is increasing the supply of Covid-19 vaccines to the states to 13.5 million per week, and it is doubling the amount provided to pharmacies to 2 million doses per week.

Breadth is mixed, with advancers leading on the Nasdaq, however the up volume exceeds the down on both the Nasdaq and the NYSE.