KG's Cases for $60 & $120 Crude Oil, NVDA Negative Price Action

Housing Market - Pending home sales in February increased by 1.8%, contrary to expectations of a 0.6% decline, marking the first positive number since December [1][2] - Despite the increase in pending home sales, there are mixed signals in the housing market, with new home builds stalling and elevated prices persisting [2][3] - Affordability remains a significant constraint for buyers in the housing market, contributing to negative confidence among both buyers and builders [4] Oil Market - The elimination of Iran's security chief has significant implications for the oil market, with ongoing attacks on energy infrastructure contributing to volatility [5][6] - Current estimates suggest that between 6 million to 8.5 million barrels per day are being removed from the market, leading to potential economic slowdowns in East Asia [9] - Oil prices are currently up by approximately 1.9%, but there is speculation that prices could return to around $65 in the coming months due to falling demand [9] Technology Sector - Nvidia's stock is experiencing slight declines, while other major tech stocks are performing better, indicating a mixed market response to recent guidance [11][13] - The market had initially reacted positively to Nvidia's $1 trillion sales guidance for 2027, but clarification led to normalization in stock prices [14] - There are ongoing discussions about global wafer shortages lasting until 2030, with companies looking to stabilize DRAM chip prices and explore alternative energy sources [16][20]