The price of Oil is 25% higher so far in 2021 and prices are headed higher after frigid temperatures in Texas over the weekend shuttered oil refineries and forcing restrictions on Natural Gas operators. The price of West Texas Crude is now over $60/barrel, which is the highest since the start of the pandemic.

Pessimism about financial security, especially among middle- and lower-income Americans, grew in early February and fewer expect the economy to show much improvement by the summer. The first of two readings of consumer sentiment this month fell 3.5 points to 76.2 in early February and touched a six-month low, according to an index produced by the University of Michigan. The index registered 79 in January.

Japan’s stock market set a new 30-year high, continuing the rally in global stocks amid stronger-than-forecast corporate earnings. The Nikkei 225 rose 1.9% to 30,084.15 after a stronger-than-forecast 3% rise in fourth-quarter gross domestic product for Japan. Markets more broadly have been boosted this year by the so-called reflation trade where an economy is resuscitated after a period of duress. The rollout of vaccines and the proposed $1.9 trillion stimulus plan from the Biden administration have stoked enthusiasm that the global economy will accelerate later this year.