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• Stock market futures turn lower after December CPI report
  Consumer prices rose somewhat faster at the end of 2023 and interrupted a slowdown in inflation, but...
  Consumer prices rose somewhat faster at the end of 2023 and interrupted a slowdown in inflation, but the recent evidence still points to a further deceleration in the months ahead.
  
  The consumer price index rose 0.3% in December to mark the biggest gain in three months. The rate of inflation over the past year also moved up to 3.4% from 3.1% in the prior month.
  
  The stock market futures turned lower after the report was released.
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• ☕️What Else is Brewing Thursday Morning
  Amazon cuts streaming jobs. The e-commerce giant...
  Amazon cuts streaming jobs. The e-commerce giant has spent billions building its content and streaming service, but now it wants to rein in costs. So, it’s laying off hundreds of employees in its Prime Video and MGM Studios units, the latter of which it acquired for $6.5 billion in 2022. It’s also cutting 500 staffers from its livestreaming platform Twitch. These job cuts come after Amazon terminated ~27,000 employees across the company in late 2022 and early 2023 to bring costs down. But it’s not the only company that wants to spend less on streaming: Disney, Paramount, and Warner Bros. are all looking to shave expenses, while Netflix hasn’t raised its content budget in two years, per Bloomberg.
  
  Nick Saban, who won six national championships as head coach of the University of Alabama football program, will retire, per ESPN. In the NFL, the Seattle Seahawks parted ways with longtime head coach Pete Carroll, capping off a big day in coaching news.
  
  The US and UK hinted that they might respond to the largest Houthi attack in the Red Sea yet with strikes in Yemen.
  
  Hunter Biden crashed the hearing where a Republican-led committee voted to hold him in contempt of Congress for refusing to testify about his father, President Joe Biden.
  
  Former New Jersey Governor Chris Christie ended his presidential run. Meanwhile, Nikki Haley and Ron DeSantis had a debate.
  
  YouTube will now provide short instructional videos from medical experts for health emergencies.
  
  The SAG Award nominations are out, as the race toward the Oscars continues.
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• Closing Oil & Gas Prices
  Benchmark U.S. crude oil for February delivery...
  Benchmark U.S. crude oil for February delivery fell 87 cents to $71.37 per barrel Wednesday. Brent crude for March delivery fell 79 cents to $76.80 per barrel.
  
  Wholesale gasoline for February delivery fell 1 cent to $2.07 a gallon. February heating oil fell 5 cents to $2.60 a gallon. February natural gas fell 15 cents to $3.04 per 1,000 cubic feet.
  
  
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• Dow rises 170 points, S&P 500 closes shy of record high
  U.S. stocks finished higher on Wednesday, a day ahead of a widely anticipated December inflation report,...
  U.S. stocks finished higher on Wednesday, a day ahead of a widely anticipated December inflation report, though the S&P 500 fell short of an all-time high after remarks from a key Federal Reserve policymaker.
  

  
  
  • The S&P 500 rose 26.95 points, or 0.57%, to 4,783.45. That’s 13 points shy of its record closing high of 4,796.56, reached in January 2022.
  
  
  • The Dow Jones Industrial Average climbed 170.57 points, or 0.45%, to 37,695.73.
  
  
  • The Nasdaq Composite gained 111.94 points, or 0.75%, to reach 14,969.65. It was the fourth straight day of gains for the tech-heavy index.
  
  

  
  On Tuesday, the Dow Jones fell 0.4% to 37,525.16, while the S&P 500 declined 0.2% to 4,756.50, and the Nasdaq Composite gained less than 0.1% to end at 14,857.71.
  
  
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• Natural Gas Futures
  Natural gas futures dropped this morning, after yesterday's 7% move higher, on forecasts for...
  Natural gas futures dropped this morning, after yesterday's 7% move higher, on forecasts for cold weather to drive up heating demand and cause freeze-offs in several shale regions, which is outweighing predictions for a large draw in storage. Updated estimates for storage week-ending 19-January now expect a draw of over (270) Bcf, potentially making it one of the ten largest pulls on record. Near-term, consensus for EIA storage week-ended 5-January due tomorrow has a draw of around (115) Bcf.
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