Diamonds and Dogs

1/7/25

Oil extends its gains for 2025, up 3% for the year, back to October highs even as President elect Trump wants to increase oil production and thereby lower prices. Devon Energy (DVN), Hess (HES) and ConocoPhillips (COP) are all up 2% or more today at multi-month highs.

Sell on the news at Nvidia (NVDA). After a nice run up to new all time highs to start the new year, Nvidia is pulling back 5% after the CEO spoke at a chip conference last night in Las Vegas. The company provided updates on new graphic cards and a new platform for autonomous vehicles and robotics, but investors seem to be disappointed. Nvidia did positively mention Micron which is up 4% today and up over 10% to start the new year.

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