WTI Just Shy Of $75; Trudeau Ready To Resign; US Equity Market Surging; Nvidia, Chips Jump; Semis Surge On Foxconn's Record 4Q24, Tariff Policy Likely To Be Pared Back, More Targeted -- Manic Monday -- January 6, 2025

Locator: 44626B.

See disclaimer: this is not an investment site. Disclaimer links at sidebar and at the "welcome," top of blog.

Tech: link here.

CNBC: semiconductors surge on news of Foxconn's record profits, 4Q24. Story posted on the blog over the weekend.

AVGO, AMZN, AAPL: has/have the magnificent-7 morphed into the amazing trio?

• NVDA: heading toward record territory today; 
• very, very interesting in light of the "anti-Nvidia" commercial regularly airing on CNBC for past several months.

Steel:

NYC congestion pricing: spokesperson, "commuters will acclimate."

In other words, this is simply a revenue play, and an attempt to save the subway system. Sarah Eisen, CNBC certainly seems very, very negative on this initiative. This, likely, will be another nail in the coffin for those NYC companies thinking about moving out of state, or, in some cases, out of City.

Market: 

Chips, say what? See this post. 

Local: our north Texas economy is doing incredibly well, but not unexpectedly, we're starting to see struggling restaurants announcing closures. Most amazing: McAlister's Deli in Colleyville, TX, announced that it is closing after 17 years at that location. Colleyville: "old money" and lots of it.

Tariffs: already CNBC is backtracking on Trump's tariffs, suggesting that Trump's tariffs will be very, very targeted. All of a sudden, not so worrisome. GM is up 4%; Ford is up almost 2%. 

Short sellers, 2024: down huge in 2024 -- especially those shorting tech and especially Nvidia. 

• Short seller losses: biggest short seller losers
• Nnvidia: -81% 
• Tesla: -64% 
• Apple: -30% (put the "Fast Money" group, led by Dan Nathan in that group?)
  
• Avgo: -83%
• Meta: -45%
• Short seller winners:
• INTC: up 80%

********************************
Back to the Bakken

WTI: $74.95.

New wells:

• Tuesday, January 7, 2025: 10 for the month, 10 for the quarter,10 for the year,
• 40757, conf, Neptune Operating, Skedsvold 20-29-32 6H,
• 40453, conf, KODA Resources, Amber 3101-4BH,
• 40294, conf, BR, Nordeng 2B TFH,
• 40210, conf, KODA Resources, Amber 1301-3BH,
• 39998, conf, Hess, GO-State-157-97-2116H-5,
• Monday, January 6, 2025: 5 for the month, 5 for the quarter, 5 for the year,
• 40756, conf, Neptune Operating, Skedsvold 20-29-32 6H,
• Sunday, January 5, 2025: 4 for the month, 4 for the quarter, 4 for the year,
• None.
• Saturday, January 4, 2025: 4 for the month, 4 for the quarter, 4 for the year,
• None.

RBN Energy:  after a long slide, Alaska's crude oil production appears primed for rebound.

Alaska North Slope (ANS) crude oil production has been sliding for years — decades really — but that is poised to change in the second half of the 2020s. Two long-planned ANS projects — Pikka and Willow — are slated to start up in 2026 and 2029, respectively. By the early 2030s, these and other projects in the works could return North Slope production to levels not seen since the turn of the century. In today’s RBN blog, we’ll discuss these projects and our new, long-term forecast for ANS oil production — a topic in our upcoming Future of Fuels report.