The Daily Market update "Energy News Beat" 1/12/2021

Another “record” Monday for the S&P as major indices inch higher as earnings season takes full effect this week. This coming week, 13 Dow components and 111 S&P 500 companies are set to report earnings. Among the quarterly reports on deck include those from Apple, Microsoft, Netflix, Tesla, McDonald’s, Honeywell, Caterpillar and Boeing.

• S&P 500: 0.36%
• Nasdaq: 0.87%
• Dow Jones: -0.08%

“The Street is anticipating robust results from Apple on Wednesday after the bell with Cupertino expected to handily beat Street estimates across the board,” wrote Dan Ives of Wedbush, who raised his 12-month price target on Monday to $175. “While the Street is forecasting roughly 220 million iPhone units [for 2021], we believe based on the current trajectory and in a bull case Cupertino has potential to sell north of 240 million units.”

Crude Oil and Natural Gas News
Crude oil prices rise a full percent after mixed stock data keeps markets in check ahead of OPEC meetings in 45 days.

US Energy News
• Oil majors going geothermal
• Obsidian Energy extents offer to Bonterra
• SpaceX buys natural gas leases
International Energy News
• Greece/Turkey agree to keep talking
• Iraq to “lower” production
• Supertankers to be shelfed
• Shell buys EV company