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• Average U.S. Natural Gas Prices Plunge by 62% in 2023
  The dramatic decrease in U.S. benchmark natural gas prices, averaging $2.57 per MMBtu...

  The dramatic decrease in U.S. benchmark natural gas prices, averaging $2.57 per MMBtu in 2023, was a result of a unique combination of factors. Record-high natural gas production, primarily in the Permian, Haynesville, and Appalachia regions, significantly outpaced growth in consumption, leading to this price drop.

  
  

  Production levels also reached an all-time high of 104 billion cubic feet per day, 4% higher than the previous year. In contrast, demand only saw a 3% increase due to higher exports and a slight rise in natural gas used for electricity generation.

  
  

  Mild winter temperatures, particularly in January and February, also played a role, leading to reduced consumption in the residential and commercial sectors and the lowest total U.S. natural gas consumption for these months in seven years

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• Gas drilling activity seen slowing in 2024 after banner year
  In October, the US achieved a record-high monthly average natural gas production of 126.3 Bcf/d, with...
  In October, the US achieved a record-high monthly average natural gas production of 126.3 Bcf/d, with Texas leading at 34.7 Bcf/d and Pennsylvania at 20.6 Bcf/d, Energy Information Administration data show. However, analysts foresee a production dip in dry gas basins this year as producers prepare for a phase of lower gas prices before an anticipated surge in demand from new liquefied natural gas terminals materializes.
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• 🇮🇷ISIS took responsibility for the deadly bombing in Iran
  According to a post on its Telegram account, the terrorist group claimed it was behind the attack, which ...
  According to a post on its Telegram account, the terrorist group claimed it was behind the attack, which killed 84 people during a memorial procession for General Qasem Soleimani. It was the deadliest attack in Iran since the country’s 1979 revolution. The group did not provide firm proof of its involvement, and its version of events differed from some reports in Iranian media. The attack further stoked fears that the Israel–Hamas war could turn into a wider regional conflict after this week’s assassination of a top Hamas leader in Lebanon, the US launching an airstrike that killed a militia leader in Iraq, and ongoing attacks by Iran-backed Houthi rebels on commercial ships in the Red Sea.
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• ☕️What Else is Brewing Friday Morning
  ESPN and NCAA sign eight-year, $920M broadcast...
  ESPN and NCAA sign eight-year, $920M broadcast rights agreement; deal includes rights to broadcast 40 NCAA championships over the next eight years (More)
  
  The 81st Golden Globe Awards to be presented Sunday (8 pm ET, CBS); see predictions for each category (More) | Elvis Presley holographic concert to debut in London in November (More)
  
  Ford reported its best year of new vehicle sales since 2019, a day after GM reported the same.
  
  The Golden Gate Bridge in San Francisco installed a suicide net for the first time in its 87-year history.
  
  Amer Sports, the maker of Wilson tennis rackets, filed for an IPO that could reportedly be valued at up to $10 billion.
  
  Germany had its lowest emissions in 70 years in 2023 after it reduced its reliance on coal, according to a study.
  
  TGI Friday’s suddenly closed 36 “underperforming” restaurants as part of a new growth strategy.
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• Closing Market Update for Thursday
  U.S. stocks finished mixed Thursday as the broad selling pressure from the first two...

  U.S. stocks finished mixed Thursday as the broad selling pressure from the first two trading days of the year abated somewhat and investors look ahead to Friday's Nonfarm Payrolls report, which will likely shape expectations for Federal Reserve policy and the path of interest rates in early 2024.

  
  

  Technology shares remained under pressure as tech bellwether Apple (AAPL), part of the so-called Magnificent Seven companies that posted outsized gains in 2023, took its second analyst downgrade of the year. Tech weakness continued to weigh on the Nasdaq Composite® (COMP), which fell for the fifth straight day and ended at its lowest level since mid-December.

  
  

  According to Nathan Peterson, director of derivatives analysis at the Schwab Center for Financial Research, Friday's Labor Department jobs report could be one of a few key "catalysts" for market direction early this year. Next week brings the December Consumer Price Index(CPI) and the unofficial start to the fourth-quarter earnings season. He also noted investors continued to "rotate" into some of 2023's weakest-performing sectors, as evidenced by strength in financial services, health care, and utilities.

  
  

  "Stocks are attempting to stabilize after a rough start to 2024, with evidence of a 'rotation trade' still being seen," Petersen said. "An important question for investors could be, 'How long does the rotation out of last year’s winners and into the underperformers persist?'" Here's where the major benchmarks ended:

  
  

  The S&P 500® index (SPX) was down 16.13 points (0.3%) at 4,688.68; the Dow Jones Industrial Average® (DJI) was up 10.15 points at 37,440.34; the Nasdaq Composite was down 81.91 points (0.6%) at 14,510.30.

  
  

  The 10-year Treasury note yield (TNX) was up about 9 basis points at 3.997%.

  
  

  The Cboe® Volatility Index (VIX) was up 0.08 at 14.12.

  
  
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