Tuesday, November 7, 2023

Four Big Stories On CNBC This Morning -- November 7, 2023

Locator: 45975INV.  

WTI: plummets: drops $2.50 / bbls; now trading around $78. What happened to Mideast war, Iran-saber-rattling, $150-oil? Is this a Goldilocks economy for average American? Bidenomics?

Four big stories being followed on CNBC this morning:

  • chip stocks: surging
  • EV prices being slashed
  • used car prices dropping 
  • household debt not an issue; has come way down since Covid-19 days;

Market after this news:

  • Dow: up 60 points
  • NASDAQ:  up 130 points
  • S&P 500: up 30 points

Used car pricing: so you had to wait a year ... well, la de da ...

  • sedans down 16% y/y here in Texas
  • crossovers: down 10% year/year in Texas
  • EVs: some of the biggest price declines here in Texas

Used car pricing: "a more normalized market" -- CNBC -- national data out today

  • y/y: down 4% 
  • m/m: down 3%

Used car pricing, Austin, TX, link here


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