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Wednesday, May 4, 2022

Busy, Busy Afternoon -- May 4, 2022

Market: with a dozen companies yet to report after hours, I'm going to be up all night sorting everything out.

Diesel: NY Harbor -- diesel is priced at $238 / bbl ($5.67 / gallon). Aren't refiners buying oil for about $100 / bbl? Link here.

Joe: "I did that." In fact, Jay Powell did that ... but ... largest rate jump since 2000 -- did the rate just double? -- and yet the Fed rate is still <1%. Tell me again why all the angst about the rate rise. By the way, the comments must have been more important than the rate rise based on market action after the meeting concluded. Link here.

I quit watching two months ago: link here. This is the longest stretch that I've quit watching CNBC

Wrong, but the sentiment is correct: link here.

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