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• Dow ends higher, Nasdaq falls for 5th straight day ahead of CPI inflation report
  U.S. stocks finished mostly higher in a choppy session...

  U.S. stocks finished mostly higher in a choppy session on Tuesday ahead of the release of a critical inflation report that could decide how much further the Federal Reserve will cut interest rates in 2025.

  
  

  The Nasdaq Composite fell 0.2% to end near 19,044, according to preliminary data from FactSet. The tech-heavy index slid for a fifth straight session. The S&P 500 was up 0.1% to finish around 5,842, while the Dow Jones Industrial Average popped over 200 points, or 0.5%, ending near 42,518.

  
  

  U.S. stocks wobbled for most of the trading session on Tuesday despite an early boost from a tamer-than-expected reading of the producer-price index for December.

  
  

  The wholesale inflation data did offer investors some relief from a string of elevated inflation in the final months of 2024, but markets will wait for further confirmation from the CPI report due out Wednesday morning to see if the Fed is succeeding in bringing inflation close to its 2% target.

  
  

  Investors are also awaiting quarterly earnings from some of the biggest banks and financial firms this week, with JPMorgan Chase, Wells Fargo, Citigroup and BlackRock set to report results on Wednesday.

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• Oil Prices Fell for the First Time in Four Sessions
  The Energy Information Administration will release its weekly petroleum report on Wednesday morning and...
  The Energy Information Administration will release its weekly petroleum report on Wednesday morning and analysts expect it to reveal an eighth-straight weekly decline in U.S. crude supplies, according to a survey conducted by S&P Global Commodity Insights
  
  The EIA has reported seven consecutive weekly declines through the weekly ended Jan. 3. Ahead of the data's release, oil prices on Tuesday marked their first loss in four sessions.
  
  February West Texas Intermediate crude settled down a $1.32, or 1.7%, lower at $77.50 a barrel on the New York Mercantile Exchange and March Brent crude ended at $79.92 on ICE Futures Europe, down $1.09, or nearly 1.4%. Tighter supplies could put upward pressure on oil prices.
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• Kinder Morgan Acquires Bakken NatGas G&P in $640MM Deal
  Kinder Morgan (KMI) has agreed to a $640 million deal for a North Dakota...
  Kinder Morgan (KMI) has agreed to a $640 million deal for a North Dakota gathering and processing (G&P) network currently owned by Outrigger Energy II, the company announced Jan. 13.
  
  KMI subsidiary Hiland Partners Holdings LLC will make the purchase, which includes a 270 MMcf/d processing plant and a 104-mile rich gas gathering header pipeline with 350 MMcf/d capacity. The network connects the Williston Basin to KMI markets.
  
  The G&P is backed by long-term contracts and commitments, Kinder Morgan said in its announcement. KMI said the acquisition has an adjusted EBITDA of about 8X on a full-year basis.
  
  Kinder Morgan has been expanding its natural gas footprint nationwide. In December, the firm announced a $1.4 billion FID for the Mississippi Crossing Project, which increased its presence in the Southeast.
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• Trump’s cabinet picks to take center stage
  The Senate will ...
  The Senate will hold hearings for President-elect Trump’s cabinet nominees this week in an effort to secure confirmations quickly after his inauguration. Today’s line-up includes former Rep. Doug Collins, who was tapped to be veterans affairs secretary, and Pete Hegseth, a former Fox News host and Army veteran who is Trump’s controversial pick to lead the Department of Defense. Among the high-profile choices who will also go before lawmakers this week are Sen. Marco Rubio for secretary of state, Florida Attorney General Pam Bondi to head the Justice Department, and South Dakota Gov. Kristi Noem for the Department of Homeland Security.
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• ☕️What Else is Brewing Tuesday Morning
  Bill Ackman wants to make a “modern-day Berkshire Hathaway”...
  Bill Ackman wants to make a “modern-day Berkshire Hathaway” with $1B deal. Hedge fund billionaire (and frequent main character on X) Bill Ackman wants a new role—namely, to become the next Warren Buffett by taking over real estate company Howard Hughes. Ackman, whose Pershing Square already owns 37.6% of the company, wants to buy the rest for $85 per share in a $1 billion deal. In a letter to shareholders, he claimed “with apologies to Mr. Buffett,” the tie-up could create a modern version of the famed investors’ conglomerate, by buying up other companies. But to do that, Ackman will have his work cut out for him: Berkshire Hathaway is valued at $956 billion, while Howard Hughes is at ~$4 billion, per Bloomberg.
  
  Israel and Hamas are moving closer to a ceasefire and hostage release deal after a “breakthrough” in talks, officials said.
  
  The Biden administration proposed new rules limiting the export of AI chips on national security grounds. Nvidia is not happy about it.
  
  Blue Origin, Jeff Bezos’s space company, nixed the launch of its new massive New Glenn rocket yesterday—moments before it was scheduled to blast off—due to technical problems.
  
  Johnson & Johnson has agreed to purchase psychiatric drug developer Intra-Cellular for $14.6 billion.
  
  Carrie Underwood will perform at Donald Trump’s inauguration next week.
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