Monday, June 19, 2017

The Market And Energy Page, T+150; Texas Acreage Sells For $46,000 / Acre -- June 19, 2017

Updates

Later, 4:00 p.m. Central Time: market closed --
  • Dow closes up 140 points
  • S & P 500 closes up 20 points
  • Nasdaq closes up  87 points
  • WTI closes at $44.14
Original Post
This is really quite remarkable:
  • Dow surges 110 points -- hits new all-time record
  • S & P 500 closes in on another new record, up 16 points
  • Nasdaq up an incredible 72 points
Those numbers despite:
  • oil and oil service companies dragging the market down with WTI less than $45
  • Fed announced a rate increase just two business days ago and says it will continue to tighten
Amazon: over $1,000/share.

Grocery market share, from CNBC:
  • Wal-Mart: 21%
  • Target: 3%
  • Whole Foods: 1% 
Hess:
Back of the envelope: $600 million / 13,000 acres = $46,000 / acre

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