The Daily Activity Report -- Not Posted As Of 5:30 P.M. CT -- December 4, 2023

Locator: 46234B. 

Nvidia: if one wants to keep up with Nvidia news, Tom's Hardware is one of many sites to check out.

Soft landing definition: if the Fed can reach its inflation target (2%) without causing a jump in joblessness. With that definition, we don't need to wait for six - twelve months for economists / historians to determine if the US was actually in a recession. Source.

Comment: I find the price of oil absolutely fascinating. 

For quite some time, there has been lots of talk of $150 oil. 

Last year, Saudi restricted production / exports and the price of oil continued to fall.

For the past year, if not longer, "we've" been hearing that the supply / demand imbalance is upwards of two million bopd. In other words, producers are supposedly producing less oil than supposedly required to the tune of two million bbls of oil per day. And this has been going on for quite some time. 

Today Saudi Arabia says they will maintain decreased production not only through March, 2024, as originally planned, but now, "as long as it takes." And what does the price of oil do? It continues to fall, now trending toward $70.

Is oil money "dead money"?

WTI: $73.04.