Locator: 45218WTI.
Tea leaves suggesting China’s economy is picking up steam come at the same time as Saudi cuts back exports and same time issues are being reported regarding “right” kind of oil.
US markets: green across all indices and NASDAQ up 80+ points.
Round of applause for JPow and friends.
AAPL futures green.
If WTI trend holds CVX will go green.
Locator: 45216INV.
The AI bubble, link here. Archived.
Think there's a bubble in the stock market fueled by hype surrounding artificial intelligence? Think again, says Fundstrat's Tom Lee.
In a video to clients on Monday, July 24, 2023, Lee outlined three reasons why the stock market has yet to enter a bubble. T
o make his point, Lee compared the price action of Nvidia stock today to Cisco during the 2000 dot-com bubble. The comparison makes sense given that Nvidia is seen as one of the biggest beneficiaries of the AI boom, while Cisco was the poster child of the dot-com bubble thanks to its suite of networking products during the internet boom.
From 1990 to 1997, $100 invested in Cisco stock turned into $11,500. That may sound like a bubble to most people, but what happened next defied everyone's expectations.
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Dow Winners During The Streak
Just scratches the surface.
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The Book Club
Philip and Alexander: Kings and Conquerors, Adrian Goldsworthy, c. 2020. 938GOL.
Locator: 45215B.
Of note:
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Back to the Bakken
Locator: 45215B.
WTI: $78.91.
Active rigs: 38.
One new permit, #40076:
Eight permits canceled:
The AI bubble, link here. Archived.
Think there's a bubble in the stock market fueled by hype surrounding artificial intelligence? Think again, says Fundstrat's Tom Lee.
In a video to clients on Monday, July 24, 2023, Lee outlined three reasons why the stock market has yet to enter a bubble. T
o make his point, Lee compared the price action of Nvidia stock today to Cisco during the 2000 dot-com bubble. The comparison makes sense given that Nvidia is seen as one of the biggest beneficiaries of the AI boom, while Cisco was the poster child of the dot-com bubble thanks to its suite of networking products during the internet boom.
From 1990 to 1997, $100 invested in Cisco stock turned into $11,500. That may sound like a bubble to most people, but what happened next defied everyone's expectations.
****************************
GDPNow
If things continue to go well, JPow may go down in history as one of the best Fed chairmen ever. Right now he’s walking on water: no recession; widows getting 5% doing nothing; longest stock market rally since 1987.
I do believe some have been awarded the Nobel Memorial Prize in Economic Sciences for less.
JPow: originally appointed to the board by Barack Obama, and later Donald Trump made him the chair.
When you compare JPow's testimony with the press conferences by the US President and/or Vice President, one can at least feel secure in the knowledge there is an adult in the room when JPow speaks.
