The Million Dollar Way (The Bakken Oil Blog)

Tuesday, September 19, 2023

Market Action Today -- Retail -- Tech -- Economy -- September 19, 2023

Locator: 45509INV.

Existential fight: UAW -- "Last Call" on CNBC called it exactly right -- the union sees this as an existential fight for their jobs; the companies see it as an existential fight for their very survival.

Not a fight that can easily be kicked down the road. If this is too big for the companies to solve, the question is how much money does the US government need to put into this EV transition?

Recession, what recession? Look at this! Link here. This is not a "tech" story -- it's a retail story. Bumping average pay -- and no strike.

In Texas, twice as many as last year (the word on the street: to deliver all those Apple Watches and iPhones 15):

Joanna Stern buys an Apple iPhone 15: link here.

TSM: mulls advanced chip packaging facility in Arizona. Link here.

US: tech leaving China; migrating to the US -- Arizona, Texas -- seem to be in the news a lot. It is amazing how quickly China faded. Sort of reminds me of Russia during the Reagan/Gorbachev years.

EVs / UK: British to delay transition. Link here.

UAW strike: link here. This interview / story continued to play out on a day the overall market was down significantly, but both GM and F were up nearly 2.5%. It's just a snapshot in time, but right now, GM and F investors seem to be happy with the way management is working this issue. At the end of the day, neither side can "afford" to lose. If there was a mistake made by either side, it was the "40%-ask" that Shawn Fain demanded. "Everybody" knew that "40%" was a non-starter. The question is whether "20%" is on the table.

One New Permit; Seven DUCs Reported As Completed; MRO Continues To Report Great Wells -- September 19, 2023

Locator: 45508B.

Active rigs: 33.

WTI: $91.20.

One new oil and gas permit, #40209:

Operator: Grayson Mill
Field: South Tobacco Garden (McKenzie)
Comments:

Grayson Mill has a permit for a Hovland well, NWNE 26-150-99;

to be sited 352 FNL and 2233 FEL;

Seven producing wells (DUCs) reported as completed:

38043, 3,358, MRO, Pavlish USA 21-18TFH,
38044, 4,195, MRO, Millie USA 21-18H,
39108, 3,413, MRO, Pugh USA-14-7TFH,
39195, 1,063, CLR, Allen 8-17HSL,
39267, 1,474, Grayson Mill, Porter 26-35 4H,
39269, 3,830, Grayson Mill, Porter 26-35 6H,
39196, 1,207, CLR, Boe State 5-16H,

Mid-Morning -- Fourth Day -- Market Turns Negative -- GM And Ford Stay Positive -- September 19, 2023

Locator: 45507UAW.

Breaking : MSFT increases dividend to 75 cents. Was 68 cents. A ten percent increase? MSFT targeting AAPL’s market value. $2.8 trillion vs $2.4 trillion. Link here.

Autos: very, very interesting.

In fact, both the Dow and the NASDAQ are having triple-digit reversals.

And F and GM doing well.

That is all.

Later, late afternoon trading: market falls. Ford and GM each up 2.5%. Link here.

Later, GDPNow unchanged: current estimate, 3Q23 — 4.9%. That much-talked about, long-predicted recession will have to wait another day. But, yes, sooner or later, we will have a recession.

Hurricane season: where art though?

Fins, CPUs, GPUs, Cores, Threads, All That Jazz -- September 19, 2023

Locator: 45506TECH.

One might start to see references to "FinFET" and GAAFET" more often, but in the big scheme of things, entirely unimportant to most of us for the time-being. For me, FinFET and GAAFET become a thing when Tim Cook starts putting the acronyms on his powerpoint presentations.

In other words, ignore this blog (for now).

Link here.