Q4 of 2022 rig additions driven by public shale drillers
An analysis by JPMorgan Chase reveals that public shale...
An analysis by JPMorgan Chase reveals that public shale producers deployed 18 rigs in the final quarter of 2022, setting themselves apart from their privately held peers, which idled 11 rigs during the same period. This discrepancy illustrates the uneven impact of cost inflation, supply chain bottlenecks and labor shortages on public and private players.
Egg prices saw the highest jump of all grocery items last year (49%), according to government data, forcing bored teens to go back to TPing and cyberbullying.
A lot less chickens were crossing the road last year…On top of high inflation all around, more than 43 million egg-laying hens died last year due to the worst avian flu outbreak in US history (leaving ~375 million total). The death toll was so high partly because if one bird in a farmer’s flock gets infected, the FDA requires all remaining birds to be killed zombie apocalypse style.
While prices are finally trending down, experts cautioned that we won’t be getting bargain eggs again until the avian flu is fully under control.
Disney park lovers’ complaints reached Mickey’s ears. After many of its parks’...
Disney park lovers’ complaints reached Mickey’s ears. After many of its parks’ biggest fans took umbrage at the rising costs of a visit, Disney has worked some magic to help guests pay less (though mostly without actually lowering entry prices). Disney said it will: stop charging for overnight parking, let Disney World annual passholders come to parks on weekday afternoons without a reservation, and expand the number of days lower cost tickets are available for Disneyland. But theme park backlash isn’t the only headache Disney is dealing with: An activist investor is trying to join the board, Disney revealed yesterday, as it elevated a Nike exec on its board to the chair position.
U.S. weekly initial jobless claims remain low, falling by 1,000 to 205,000
The numbers: Initial jobless claims fell by a seasonally adjusted 1,000 to 205,000...
The numbers: Initial jobless claims fell by a seasonally adjusted 1,000 to 205,000 in the week ended Jan. 7, the Labor Department said Thursday.
Economists polled by The Wall Street Journal had estimated new claims would rise 6,000 to 210,000. Last week claims fell a revised 17,0000 to 206,000. That compared with the initial estimate of a decline of 19,000 to 204,000.
Key details: The number of people already collecting jobless benefits fell 63,000 to 1.63 million.
Big picture: The labor market is running pretty hot. That will keep pressure on wages and keep the Federal Reserve on alert. The economy added 223,000 jobs in December and the unemployment rate fell to 3.5%.
U.S. consumer prices rise at slowest annualized pace in 14 months
The numbers: The U.S. cost of living fell 0.1% in December and posted the first decline...
The numbers: The U.S. cost of living fell 0.1% in December and posted the first decline since the onset of the pandemic in 2020, pointing to a further slowdown inflation after it hit a 40-year peak last summer.
Economists polled by The Wall Street Journal had forecast a 0.1% drop in the consumer price index. Lower oil prices largely accounted for the decline.
The annual rate of inflation fell for the sixth month in a row to 6.5% from 7.1% . That’s the lowest level in more than a year and down from a 40-year peak of 9.1% last summer.
