Monday, April 3, 2017

The Market And Energy Page -- T+72, April 3, 2017

The market: futures were up a bit, and I think the market opened up a bit, but now, mid-morning, the Dow 30 is down about 40 points. WTI remains above $50.

Tesla: beats expectations -- delivers record 25,000 vehicles in first quarter. The headline is a bit of hyperbole, I suppose. Forecasts ranged between 23,000 and 24,000 which, to me, in the big scheme of things, Tesla pretty much came in as expected. "Missing" expectations would have been devastating. Tesla missed delivery expectations last quarter so it probably was not that "big a deal" to hit / exceed expectations this time around. But had they missed? Wow. These were Model S (13,450) and Model X (11,550). I always find it interesting how Tesla numbers are always a "very round" number.

For the archives: this is an issue that doesn't really interest me at the moment, but it's important for the archieves -- Oilprice.com on record -- an OPEC deal to extend production cuts won't lift oil prices. I disagree. All things being equal, on the day that OPEC announces an extension of production cuts, the price of oil will rise 2/50 or 4% or more.

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