OklahomaMinerals.com

Snippets

• ☕️What Else is Brewing Wednesday Morning
  🔔 Before the opening bell: US stock futures...
  🔔 Before the opening bell: US stock futures fall early Wednesday after the latest economic reports from China failed to cheer the market.
  
  Goldman Sachs isn’t sweating the economy. The bank is taking a more optimistic view of economic growth in 2024 compared to the rest of the Street. Goldman sees US GDP growth of 2%, and only a 20% chance of a recession, figures that are well below consensus estimates.
  
  YouTube is allegedly making millions of dollars a year from advertising on climate change denial content, according to a new report.
  
  Sean “Diddy” Combs and liquor giant Diageo resolved their legal dispute, dissolving all ties between the rapper and the Ciroc vodka and DeLeón tequila brands.
  
  Burger King owner Restaurant Brands International said it’s buying the fast-food chain’s biggest franchisee for $1 billion and will spend another $500 million to overhaul hundreds of locations.
  
  Elon Musk said he wants 25% voting control of Tesla, up from the 13% that the CEO currently owns.
  
  Goldman Sachs and Morgan Stanley both revealed they topped revenue estimates yesterday, in a good day for big banks.
  Read More
• Deep freeze hits US energy supplies
  Well and equipment freeze-offs due to frigid weather in...
  Well and equipment freeze-offs due to frigid weather in Texas, North Dakota and other US regions caused natural gas production to decline by around 10.6 Bcf/d in the past week to a preliminary 11-month low, while gas demand was projected to hit a record 174.3 Bcf/d today. Particularly affected was the Bakken Shale, where oil and gas output fell by up to 425,000 barrels per day and 1.1 Bcf/d, respectively, according to the North Dakota Pipeline Authority.
  Read More
• Closing Oil & Gas Prices
  Benchmark U.S. crude oil for February delivery...
  Benchmark U.S. crude oil for February delivery fell 28 cents to $72.40 per barrel Tuesday. Brent crude for March delivery rose 14 cents to $78.29 per barrel.
  
  Wholesale gasoline for February delivery was unchanged at $2.12 a gallon. February heating oil fell 1 cent to $2.66 a gallon. February natural gas fell 41 cents to $2.90 per 1,000 cubic feet.
  
  
  Read More
• Dow ends over 200 points lower
  U.S. equities tumbled broadly Tuesday to begin a holiday-shortened week as Treasury yields jumped sharply...
  U.S. equities tumbled broadly Tuesday to begin a holiday-shortened week as Treasury yields jumped sharply and a Federal Reserve leader's comments prompted investors to dial back expectations for interest rate cuts. The Dow Jones Industrial Average^® (DJI) closed near a four-week low despite stronger-than-expected quarterly results from member company Goldman Sachs (GS).
  
  The 10-year Treasury yield's rise back above 4% "was a likely culprit behind equity market weakness" to start the week, said Liz Ann Sonders, Schwab's chief investment strategist. Other culprits behind the weakness, she added, included some large downwardly revised earnings estimates for the fourth quarter of 2023 and first half of 2024.   Here's where the major benchmarks ended:
  

  
  
  • The S&P 500^® index (SPX) fell 17.85 points (0.4%) to 4,765.98; the Dow Jones Industrial Average lost 231.86 points (0.6%) to 37,361.12; the Nasdaq Composite^® (COMP) declined 28.41 points (0.2%) to 14,944.35.
  
  
  • The 10-year Treasury note yield rose about 11 basis points to 4.06%.
  
  
  • The Cboe^® Volatility Index (VIX) rose 0.59 to 13.84.
  
  

  
  
  Read More
• Energy Sector Commentary
  The energy sector kicked off the holiday-shortened week mixed to lower,...

  The energy sector kicked off the holiday-shortened week mixed to lower, tracking weakness in the broader equity futures, but continued strength in the crude complex is helping to stem the declines. Stock futures fell as rates continued to tick higher and as investors scrubbed through the latest batch of fourth-quarter earnings ahead of key economic data later this week.

  
  

  WTI and Brent crude oil futures extended their climb higher this morning, backed by escalating tensions in the Middle East. Yemen's Houthi movement released a statement that it will expand its targets in the Red Sea region to include U.S. ships and that it would keep up attacks after U.S.-led strikes in Yemen. Elsewhere in the region, Iran said it had launched ballistic missiles at targets in Iraq and Syria in defense of its sovereignty and to counter-terrorism. Investors are also awaiting a speech by the U.S. Federal Reserve's Christopher Waller later today for clues about when the Fed might begin to cut interest rates.

  
  

  Natural gas futures are off over 7% in early trading, pressured by warmer weather forecasts in key consuming regions that will offset supply losses due to the current polar vortex.

  Read More

• Prev
• Next