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• First onshore O&G lease sale since June nets $78M+
  The Bureau of Land Management generated more than ...
  The Bureau of Land Management generated more than $78 million from the sale of oil and natural gas drilling rights on 45 parcels across 10,123 acres in New Mexico and Kansas, marking the first onshore oil and gas auction in nearly a year. "While today's sale is a step in the right direction, it does not rewrite the administration's record of delaying and canceling quarterly lease sales, reducing acreage available for lease and disincentivizing the development of US natural resources," said the American Petroleum Institute Vice President of Upstream Policy Holly Hopkins after Thursday's sale.
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• Treasury Expects to Run Out of Cash by June 5
  Treasury Secretary Janet L. Yellen said on Friday that the United...

  Treasury Secretary Janet L. Yellen said on Friday that the United States will run out of money to pay its bills on time by June 5, moving the goalpost back slightly while maintaining the urgency for congressional leaders to reach a deal to raise or suspend the debt limit.

  
  

  The letter provided the most precise date yet for when the United States is expected to run out of cash. Ms. Yellen had previously said the nation could hit the so-called X-date — the moment when it does not have enough money to pay all of its bills on time — as soon as June 1.

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• Closing Oil and Gas Prices
  Benchmark U.S. crude oil for July delivery rose...
  Benchmark U.S. crude oil for July delivery rose 84 cents to $72.67 a barrel Friday. Brent crude for July delivery rose 69 cents to $76.95 a barrel.
  
  Wholesale gasoline for June delivery rose 3 cents to $2.70 a gallon. June heating oil rose 2 cents to $2.37 a gallon. June natural gas fell 13 cents to $2.18 per 1,000 cubic feet.
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• Stock Market Closing Summary for Friday
  Investors bid up stocks Friday, buoyed by optimism from Washington negotiators that a deal on the debt...
  Investors bid up stocks Friday, buoyed by optimism from Washington negotiators that a deal on the debt ceiling was likely in the coming days.
  
  The S&P 500 gained 1.3% Friday, while the Nasdaq Composite rose 2.2%. Even the Dow Jones Industrial Average -- which has recently lagged thanks to its lack of tech stocks and AI exposure -- gained on the day, up 329 points, or 1%.
  
  The S&P 500's gain carried extra significance, with the large-cap index breaking through the 4,200 level for the first time since Aug 19, 2022. That prior peak came shortly before Federal Reserve Chairman Jerome Powell gave his Jackson Hole speech reiterating the central bank's hawkish stance around inflation.
  
  Prior to today, the index had closed between 4,100 and 4,200 for 15 consecutive trading days. The technical analysts who study stock charts will see the breakthrough as a bullish sign for the days and weeks to come.
  
  The S&P 500 is now up 9.5% this year, though it's still 12% off its Jan 2022 high.
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• ☕️What Else is Brewing Friday Morning
  Neuralink, Elon Musk’s brain-implant company, received FDA approval to begin its ...
  Neuralink, Elon Musk’s brain-implant company, received FDA approval to begin its first-in-human study.
  
  The ChatGPT app topped 500,000 downloads in the first six days after it was released for iOS, according to data.ai. That’s the second-best app debut of the last two years after Trump’s Truth Social.
  
  Whoops: Famed tech investor Cathie Wood sold off her entire Nvidia stake in early January, before the stock started ripping and added $560 billion in market value.
  
  Germany slid into a recession as higher prices dampened consumer spending.
  
  Tako, TikTok’s new AI chatbot, is getting a test run in the Philippines. What if the bot and the TikTok algorithm fall in love?
  
  
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