Investor optimism now rests more fiscal stimulus in addition to the $900 billion on the way which can further boost consumer spending. Bulls also hope for billions of doses of Covid-19 vaccines to be distributed throughout the year, which would reopen the economy and potentially catalyze the unleashing of that spend. But stocks have risen significantly of late even though they are trading at lofty levels, not an unheard-of dynamic.
With the absence of any major or macro developments to move stocks ahead Monday, TD Ameritrade’s chief market strategist offered some explanation. “People are anticipating a good earnings season and the market is overall kind of ignoring the Washington drama,” J.J. Kinahan wrote in a blog post.
By Reuters Staff
2 Min Read
(Reuters) - U.S. oil producer Apache Corp APA.O said on Thursday it plans to keep project spending next year flat or slightly lower than this year s $1 billion spending rate, as the COVID-19 pandemic continues to slash global oil demand.
Oil companies continue cutting spending following pandemic-driven oil price drops. But U.S. service costs have fallen so much that Apache is sending some equipment back to work in the country’s top shale field, even as it continues to pin hopes on its offshore Suriname discovery.
The company is adding two hydraulic fracturing crews in the Permian Basin shale field in Texas to work on wells that have been drilled already but not fracked, but has no plans for a “sustained” drilling program in the field, Chief Executive John Christmann said on a call with analysts. Apache had suspended Permian Basin drilling and fracking in April after oil prices collapsed.
U.S. Agrees to Sell AH-64E Apache Gunships to Kuwait for $4B Our Bureau 2249
AH-64E Apache attack helicopter.
The United States today approved several high-ticket arms sales to the Middle East including one for a bevy of AH-64E Apache attack helicopters to Kuwait for $4 billion.
Kuwait wants to buy 8 new AH-64E Apache Longbow Attack Helicopters and plans to remanufacture the 16 AH-64 Delta-models it purchased in 2005 into the E-model configuration.
The Apaches will come equipped AN/ASQ-170(V) Modernized Target Acquisition and Designation Sights and AN/AAQ-11 Pilot Night Vision Sensor electronic units plus AN/APG Longbow Fire Control Radars. They will be armed with 299 AGM-114 Hellfire Missile Launchers as well as Hydra 70mm rocket launchers and M23El 30mm chain guns.