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• ☕️What Else is Brewing Tuesday Morning
  President Biden called on Congress to force railroad workers to accept a labor deal that several unions...
  President Biden called on Congress to force railroad workers to accept a labor deal that several unions have now rejected in order to prevent a strike that could cost ~$2 billion a day.
  
  The WHO has rechristened monkeypox as “mpox,” saying the infectious disease’s original moniker could be construed as racist.
  
  More than 180,000 Georgians have already cast their vote in the Dec. 6 Senate runoff election between Herschel Walker and Raphael Warnock thanks to early voting. Both parties are spending big to drive turnout.
  
  Houston shut down its public schools yesterday after millions of the city’s residents were warned to boil their water following a power outage at a purification plant.
  
  European law enforcement arrested 49 people to shut down a “super cartel” that allegedly controlled one-third of the cocaine trade in Europe.
  
  
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• Is the Market Bottom In?
  Goldman Sachs strategists said stocks have not yet bottomed out and investors should dial back...
  Goldman Sachs strategists said stocks have not yet bottomed out and investors should dial back exposure to equities in the near-term. Despite a relief rally this month, indexes still have further to fall, the bank maintained: "Without depressed valuations, for markets to trough investors need to see a peak in inflation and rates, or a trough in economic activity."
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• US Stock Futures Turn Positive
  US stock futures rise early Tuesday after Chinese authorities said they were launching...
  US stock futures rise early Tuesday after Chinese authorities said they were launching a drive to boost senior vaccination rates, raising hopes that the country may relax its zero-COVID strategy. Honk Kong stocks were also up on the news, jumping as much as 5%. Here are the latest market moves.
  
  Earnings on deck: Intuit Inc., Hewlett Packard Enterprise Co., and Carlyle Group, all reporting.
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• U.S. oil prices recover from their lowest price of the year
  U.S. oil futures finished higher on Monday, recovering from early losses that saw the West Texas Intermediate...
  U.S. oil futures finished higher on Monday, recovering from early losses that saw the West Texas Intermediate contract briefly erase its year-to-date gain.  Protests over China’s strict COVID-19 restrictions stoked worries over slack crude demand from one of the world’s biggest consumers briefly pulled prices to their lowest level of the year.
  

  
  
  West Texas Intermediate crude for January delivery CL.1, 0.35% CL00, +0.38% CLF23, 0.37% fell 96 cents, or 1.3%, to settle at $77.24 a barrel on the New York Mercantile Exchange. Prices for the front-month contract traded as low as $73.60, the lowest since Dec. 27, 2021, according to Dow Jones Market Data.
  
  January Brent crude BRNF23, -0.99%, the global benchmark, lost 44 cents, or 0.5%, to settle at $83.19 a barrel on ICE Futures Europe. It traded as low as $80.61, the lowest intraday level for a front month since Jan. 10. February Brent BRN00, -0.75% BRNG23, -0.79%, the most actively traded contract, rose 18 cents, or 0.2%, to $83.89 a barrel.
  
  December gasoline RBZ22, -1.19% rose 0.1% to $2.3306 a gallon
  
  December heating oil HOZ22, -1.71% fell 0.7% to $3.2154 a gallon.
  
  December natural gas NGZ22, -3.90% was down 4.4% to end at $6.712 per million British thermal units on the contract’s expiration day.
  
  
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• US to Auction Almost 1 Million Acres Off Alaska for Oil Drilling
  The Biden administration plans to offer hundreds of thousands of acres off the coast of Alaska for new...
  The Biden administration plans to offer hundreds of thousands of acres off the coast of Alaska for new oil and gas drilling next month, a sale mandated in Democrats’ Inflation Reduction Act to win the support of holdout West Virginia Senator Joe Manchin.
  
  The auction of more than 958,000 acres in Alaska’s Cook Inlet next month, announced by the Interior Department Monday, could produce nearly 200 million barrels of crude and 300 billion cubic feet of natural gas over the lifetime of the lease sales, according to department estimates, though it’s debatable whether any drilling will actually occur.
  
  The lease sale, to be held Dec. 30, was one of several previously canceled offerings reinstated in the Democrats’ climate spending bill signed into law in August and considered a linchpin to winning Manchin’s support. The Biden administration announced it had canceled the Cook Inlet sale in May citing a lack of interest, prior to the legislation’s enactment.
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