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• Henry Kissinger Is Dead at 100; Shaped Nation’s Cold War History
  Henry A. Kissinger, the scholar-turned-diplomat who engineered the United...

  Henry A. Kissinger, the scholar-turned-diplomat who engineered the United States’ opening to China, negotiated its exit from Vietnam, and used cunning, ambition, and intellect to remake American power relationships with the Soviet Union at the height of the Cold War, sometimes trampling on democratic values to do so, died on Wednesday, according to a statement that was released by his consulting firm. He was 100.

  
  

  He died at his home in Connecticut.

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• Closing Oil & Gas Prices
  Benchmark U.S. crude oil for January delivery...
  Benchmark U.S. crude oil for January delivery rose $1.45 to $77.86 per barrel Wednesday. Brent crude for January delivery rose $1.42 to $83.10 per barrel.
  
  Wholesale gasoline for December delivery rose 5 cents to $2.28 a gallon. December heating oil fell 2 cents to $2.89 a gallon. January natural gas fell 4 cents to $2.80 per 1,000 cubic feet.
  
  
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• Stocks end mostly lower, but head for big monthly gains
  Stocks ended mostly a shade lower on Wednesday but remained on...
  Stocks ended mostly a shade lower on Wednesday but remained on track for the biggest monthly gains of 2023. The Dow Jones Industrial Average DJIA eked out a gain of around 14 points, or less than 0.1%, to close near 35,431, according to preliminary figures. The S&P 500 SPX fell 0.1%, while the Nasdaq Composite COMP shed 0.2%. The S&P 500 has rallied 8.5% so far this month, while the Nasdaq is up 11%, which would be the biggest monthly advance for both indexes since July 2022, according to Dow Jones Market Data. The Dow is up 7.2% in November, which would be its strongest monthly showing since October 2022.
  
  
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• Fed rate-cut hopes are fueling an ‘everything rally’ on Wall Street
  Gold, Treasury bonds, long-shot call options, bitcoin and…GameStop? Most market strategists would agree...
  Gold, Treasury bonds, long-shot call options, bitcoin and…GameStop?
  
  Most market strategists would agree those are some strange bedfellows. But the torrid November rally in stocks is starting to morph into something more frothy, analysts say, and both speculative and defensive assets are getting taken along for the ride.
  
  Some have described it as the latest leg of an “everything rally” fueled by a broad macro bet on Federal Reserve interest-rate cuts beginning early next year.
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• Energy Sector Commentary
  The energy sector is off to a higher start, supported by strength in the crude complex...

  The energy sector is off to a higher start, supported by strength in the crude complex and the major equity futures as investors attempt to extend November’s rally during the last week of the month.

  
  

  WTI and Brent crude oil futures are adding to yesterday’s gains on tomorrow’s OPEC+ meeting, supply disruptions caused by a storm in the Black Sea, and on last night’s API print. OPEC+ is expected to decide 2024 oil policy tomorrow after the meeting had been delayed from November 26^th. A severe storm in the Black Sea region has disrupted up to 2 million barrels per day (bpd) of oil exports from Kazakhstan and Russia, according to state officials and port agent data. Traders will also be gauging crude inventories as last night’s API data showed crude stocks fell 817K barrels, meanwhile, Reuters expects the total inventory figure to fall 933K barrels.

  
  

  Natural gas futures are lower on the first day of trading for the January front-month contract amid a combination of warmer weather, weaker feed gas flows, and record production.

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