OklahomaMinerals.com

Snippets

• PPI report reflects U.S. wholesale inflation rate of 0.3% in January
  The numbers: Wholesale costs rose in January at the...
  The numbers: Wholesale costs rose in January at the fastest rate in five months, possibly another sign that inflation won’t slow toward the Federal Reserve’s 2% target as fast as hoped.
  
  The 0.3% increase in the producer price index last month was larger than the 0.1% forecast of economists polled by The Wall Street Journal. The rise in wholesale inflation over the past 12 months ticked down to 0.9% from 1.0%, however.
  
  Core wholesale prices, which exclude food, energy and trade margins, rose an even sharper 0.6% in January. That was the biggest increase in a year. The 12-month rate of core wholesale inflation was unchanged at 2.6%.
  Read More
• ☕️What Else is Brewing Friday Morning
  A decision in a civil trial...
  A decision in a civil trial against former President Donald Trump and the Trump Organization is expected today, marking the end of a case that may limit the company's ability to operate in the state of New York. 
  
  Prosecutors allege the firm manipulated the value of its real estate assets for financial and tax purposes. No jury is involved in the case—Judge Arthur Engoron previously found the Trump Organization committed fraud, with only the penalty to be determined. See our previous write-up here. 
  
  Special counsel David Weiss charged a former FBI informant with lying about President Biden and his son Hunter’s alleged role with the Ukrainian company Burisma.
  
  Japan fell behind Germany and became the world’s fourth-biggest economy after an unexpected slip into recession.
  
  The White House confirmed reports that Russia has obtained a “troubling” anti-satellite weapon, but said it is not capable of causing destruction on Earth.
  
  Waymo issued its first-ever recall after a software problem caused two of its self-driving cars to crash into a truck in Phoenix.
  
  Instagram and Threads, both owned by Meta, will stop recommending political content to users unless they specifically opt in.
  
  Fani Willis, the Fulton County district attorney prosecuting the Georgia election interference case against former President Trump, testified at a hearing yesterday over an alleged improper relationship with a lawyer she appointed to the case.
  Read More
• Closing Oil & Gas Prices
  Benchmark U.S. crude oil for March delivery ...
  Benchmark U.S. crude oil for March delivery rose $1.39 to $78.03 per barrel Thursday. Brent crude for April delivery rose $1.26 to $82.86 per barrel.
  
  Wholesale gasoline for March delivery was unchanged at $2.32 a gallon. March heating oil rose 1 cent to $2.82 a gallon. March natural gas fell 3 cents to $1.58 per 1,000 cubic feet.
  
  
  Read More
• 🚀 Dow ends up nearly 350 points as stocks claw back losses from earlier this week
  U.S. stock indexes finished higher on Thursday as Wall Street attempted...
  U.S. stock indexes finished higher on Thursday as Wall Street attempted to recover from a steep selloff earlier this week. January's retail sales report — which dropped more than forecast — bolstered hopes that the Federal Reserve will begin cutting interest rates in the coming months.
  
  Here is where the three benchmark indexes stood at the closing bell:
  
  The S&P 500 rose 29.11 points, or 0.6%, to finish at 5,029.73, a new record closing high for the large-cap benchmark index, according to FactSet data.
  
  The Dow Jones Industrial Average advanced 348.85 points, or 0.9%, to end at 38,773.12.
  
  The Nasdaq Composite was up 47.03 points, or 0.3%, ending at 15,906.17.
  
  
  Read More
• U.S. first-time unemployment claims fall to one-month low
  The numbers: The number of Americans who applied for...
  The numbers: The number of Americans who applied for unemployment benefits in early February fell to a one-month low of 212,000 indicating layoffs remain low nationwide despite sharp job cuts at some big businesses such as UPS.
  
  Initial jobless claims slid by 8,000 from 222,000 in the prior week. After the usual ups and downs during the holiday season, new jobless claims appear to have settled in a low 210,000 to 220,000 range.
  
  Businesses are not hiring as much as they were last year, but they are not cutting many jobs, either.
  
  Economists polled by The Wall Street Journal had forecast new claims to total 220,000 in the seven days ending Feb. 10, based on seasonally adjusted figures.
  
  Big picture: The U.S. is still adding jobs and unemployment is extremely low at 3.7%. A robust labor market has helped to fuel steady consumer spending.
  Read More

• Prev
• Next