NASDAQ Hits A New All-Time High -- TGIF -- July 5, 2024

Locator: 48055B.

Updates

Later, 11:25 a.m. CDT: AAPL hits a new 52-week high.

Later, 10:10 a.m. CDT: after opening "red," the Dow is now green (albeit, not by much) and now all major indices are "green," with the NASDAQ up almost 100 points now going up another 108 points now up 135 points. Dow flat, but technically green.

Original

NASDAQ: hits a new all-time high.

Saudi oil: I don't know if anyone really knows what's going on. From Bloomberg today:

Saudi Arabia, the world’s biggest crude oil exporter, saw overseas shipments slump to a 10-month low in June amid stiff competition in key markets while its own needs soared.

Exports of crude from the kingdom, estimated by Bloomberg using vessel tracking data and compared against figures compiled by other data providers, stood at about 168 million barrels last month — equivalent to about 5.6 million barrels a day.

That was a mere 250,000 barrels a day above the lowest level seen since the start of the Covid-19 pandemic.

Focusing on two of the nation’s biggest customers — China and India — the situation looks even worse.

At about 1.27 million barrels a day, the amount of Saudi crude sent to China last month was the smallest since mid-2020, during the depths of the pandemic-induced rout in oil demand.

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Back to the Bakken

WTI: $84.03.

Sunday, July 7, 2024: 13 for the month; 13 for the quarter, 349 for the year
40382, conf, Kraken Maddie 10-15-22 4H,
40282, conf, Whiting, Sanish Bay E Federal 5292 31-6 5B,
40251, conf, CLR Benner 3-7H,
39925, conf, Slawson, Switchback 5-21UTFH, Big Bend, npd,

Saturday, July 6, 2024: 9 for the month; 9 for the quarter, 345 for the year
40383, conf, Kraken, Maddie 10-15-22 5H
40250, conf, CLR, Benner 2-7HSL, Jim Creek, npd,

Friday, July 5, 2024: 7 for the month; 7 for the quarter, 343 for the year
40384, conf, Kraken, Wayne 11-14-23 2H, Ellisville, npd,