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Wednesday, July 1, 2020

Notes From All Over -- The "Surprise" Edition -- July 1, 2020

Surprise, surprise: market volatility.
  • futures down
  • market opening jumps over a hundred points
  • now late-morning, Dow down 60 points
  • headline: ADP data disappoints
  • hunch: this will be forgotten by 2:00 p.m. EDT this later today
    • AAPL: still holding on -- up about half a percent
    • TSLA: up 4.4%; up almost $50; apparently sets "new record"; market value surges past Toyota; 
Later, 10:58 a.m. CDT: market turns green -- Pfizer sparks "vaccine hopes." LOL.
On another note, that poll at the sidebar on the right -- which pharmaceutical company would get the government nod -- appears to be a bust. It was posted about three weeks ago when there were reports that the federal government would pick one of five leading pharmaceutical companies to take on the US corona virus vaccine program -- but to date, nothing. So the poll comes down. I've lost interest.
Disclaimer: this is not an investment site.  Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here.

Taxes: no more delays. IRS says "tax filing deadline" won't be extended past July 15, 2020.

TCM: "Government Girl." Wouldn't have posted a note about this show, but it appears Ed Norton channeled Sonny Tufts when Ed Norton spoke about "love" in "Birdman." Amazing. 
The "government girl": Olivia de Havilland. This clip from "Birdman":



*******************************
EIA Weekly Petroleum Report

Almost forget, EIA weekly data out today.

Link here:
  • US crude oil in storage: 535.5 million bbls; a whopping 15% above an already-fat level of storage; down from 16% last week;
  • US crude oil in storage decreased by a whopping (there's that word again) 7.2 million bbls from the previous week;
  • refineries operating at 75.5% capacity; pretty much unchanged;
  • jet fuel supplied was down 60.0% compared with same four-week period last year; again, pretty much unchanged
  • US crude oil imports, at 6.0 million bpd, the four-week average of 6.5 million bpd
  • WTI; immediate reading -- pretty much unchanged
Re-balancing:
Week
Date of Report=
Change
Million Bbls Storage
Above/Below 5-Year Average
Week 0
November 21, 2018
4.9
446.9

Week 1
November 28, 2018
3.6
450.5

Week 2
December 6, 2018
-7.3
443.2

Week 3
December 12, 2018
-1.2
442.0

Week 4
December 19, 2018
-0.5
441.5

Week 5
December 28, 2018
0.0
441.4

Week 71
April 8, 2020
15.2
484.4

Week 72
April 15, 2020
19.2
503.6

Week 72
April 22, 2020
15.0
518.6

Week 73
April 29, 2020
9.0
527.6

Week 74
May 6, 2020
4.6
532.2

Week 75
May 13, 2020
-0.7
531.5

Week 76
May 20, 2020
-5.0
526.5

Week 77
May 28, 2020
7.9
534.4

Week 78
June 3, 2020
-2.1
532.3

Week 79
June 10, 2020
5.7
538.1

Week 80
June 17, 2020
1.2
539.3
15%
Week 81
June 24, 2020
1.4
540.7
16%
Week 82
July 1, 2020
-7.2
533.5
15%

Jet fuel delivered:
Jet Fuel Delivered, Change, Four-Week/Four-Week


Week
Date of Report
Change
Week 0
3/7/2020
-12.80%
Week 1
3/14/2020
-12.60%
Week 2
3/21/2020
-8.90%
Week 3
3/28/2020
-16.40%
Week 4
4/4/2020
-0.22%
Week 5
4/11/2020
-39.70%
Week 6
4/18/2020
-53.60%
Week 7
4/24/2020
-61.60%
Week 8
5/1/2020
-66.60%
Week 9
5/8/2020
-68.50%
Week 10
5/15/2020
-67.90%
Week 11
May 22, 2020
-66.60%
Week 12
June 3, 2020
-68.70%
Week 13
June 10, 2020
-63.70%
Week 14
June 17, 2020
-62.30%
Week 15
June 24, 2020
-62.50%
Week 16
July 1, 2020
-60.00%

Imports:
Crude Oil Imports




Week (week-over-week)
Date of Report
Raw Data, millions of bbls
Change (millions of bbls)
Four-week period comparison
Week 0
March 11, 2029
6.4
0.174

Week 1
March 18, 2020
6.5
0.127

Week 2
March 25, 2020
6.1
-0.422

Week 3
April 1, 2020
6.0
-0.070

Week 4
April 8, 2020
5.9
-0.173

Week 5
April 15, 2020
5.7
-0.194

Week 6
April 22, 2020
5.6
-0.700

Week 7
April 29, 2020
5.3
0.365
-19.700%
Week 8
May 6, 2020
5.7
0.410

Week 9
May 13, 2020
5.4
-0.321
-26.100%
Week 10
May 20, 2020
5.2
-0.194

Week 11
May 28, 2020
7.2
2.000
-16.400%
Week 12
June 3, 2020
6.2
-1.000
-18.300%
Week 13
June 10, 2020
6.4
0.000
-13.300%
Week 14
June 17, 2020
6.6
-0.222
-10.000%
Week 15
June 24, 2020
6.5
-0.102
-11.600%
Week 16
July 1, 2020
6.5
-0.600
-11.300%

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