Notes From All Over -- April 7, 2022

Note: CLR's Rolf Federal wells in Brooklyn oil field have been updated. These wells are tracked here.

Jobless claims, link here:

• first time claims, lowest level since 1968
• claims come in well below expectations;
• 166,000 vs 200,000 expected
• 171,000 prior week
• was there a bit of manipulation in the data? I don't know. From the linked article:

The number of new claims filed last week marked the least in more than five decades and represented a third consecutive week that new claims were below 200,000. The prior week's new claims were also markedly downwardly revised to 171,000, from the 202,000 previously reported for the end of March. Prior to the pandemic, new claims were averaging around 218,000 per week throughout 2019.

Some of the volatility in the most recent weekly jobless claims data likely reflects a change in the way the Labor Department adjusted the figures to account for seasonal factors. Starting in Thursday's report, the Labor Department returned to using "multiplicative" seasonal adjustment factors for the data. Over the course of the pandemic, the Labor Department had been using "additive" seasonal adjustment factors, which help smooth out large shifts in the data — as had been the case with the anomalous spikes in jobless claims that took place during the early wave of lockdowns in 2020.

Warren Buffett and HP, why? Link here.

• with announcement, huge gain
• From the linked article:
  

The company squashed analyst profit forecasts for its first fiscal quarter (reported in late February), powered by strong sales of commercial computers and printers. HP said commercial computer and printer sales rose 26% and 9%, respectively, from the prior year.

The strength in commercial computers and printers offset a more muted performance for consumer products. HP said consumer PC sales fell 1%, while consumer printing sales dropped 23%.

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Goin' Fishin'