The Market -- WTI Hits $83 -- August 4, 2023

Locator: 45332MARKET.

This is really quite cool. The rising price of oil -- actually preceded by the surge in the price of gasoline -- will help JPow's attempt to slow the economy. Whether or not we see inflation slow is another question. Sort of depends on the reason for the 9% inflation we saw last year.

This is really quite cool. It appears the American drillers are "getting religion again," after reporting dismal 2Q23 earnings, cutting dividends, and seeing share prices drop. 

BRK: down half a percent.

WTI:

• up 1.78%
• up $1.45
• trading at $83.00

With the market surging today, would this be a good day to see how EVs are doing?

EVs tracked here.

• F: down one percent, trading at $13.
• GM: down slightly; trading at $37.
• TSLA: flat; trading at $259.
• RIVN: down 0.6%; trading at $26.
• NKLA: down 13%; trading at $2.96.
• RIDEQ (note the Q): up half a percent; trading at $3.76.
• ARVL: down 2%; trading at $2.25.
• FIS: up 4%; trading at $59.
• PSNY: down 3%; trading at $4.33.
• RACE: up a dollar; trading at $315.
• LCID: down 2%; trading at $6.77

US infrastructure:

• CAT: down 0.75%;
• BA: up 1%;
• DE: up $3.63; up about 1%;
• UNP: flat, up slightly; back up over $130;
• CMI: down almost 2%; down $4.59.

Bottom line: ho-hum.

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And So It Begins

Our son-in-law is working on a project in his backyard. The boys needed no encouragement.