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• Alaska expects Cook Inlet production downtrend to persist
  The Alaska Division of Oil and Gas has predicted that state oil production will average 501,000 barrels...
  The Alaska Division of Oil and Gas has predicted that state oil production will average 501,000 barrels per day over the next five years, with the North Slope accounting for around 492,000 bpd of the total. However, oil production in the Cook Inlet, a critical feedstock for state refineries, is expected to trend lower in the next decade, having fallen from a 2016 peak of 16,585 bpd to average 9,406 bpd in the last fiscal year.
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• More companies announce layoffs: 
  And it’s not just the high-flying tech firms doing it. The toymaker Hasbro cut ...
  And it’s not just the high-flying tech firms doing it. The toymaker Hasbro cut about 15% of its global workforce after its holiday-season sales dropped 17% from the prior year. And IBM, Dow, SAP, and 3M all announced significant layoffs this week, citing the uncertain economic environment we just discussed.
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• ☕️What Else is Brewing Friday Morning
  The FBI announced it disrupted a major hacking group and prevented it from collecting more than $130...
  The FBI announced it disrupted a major hacking group and prevented it from collecting more than $130 million in ransomware payments. “We hacked the hackers,” Deputy US Attorney General Lisa Monaco said.
  
  Southwest Airlines booked a net loss of $220 million in the fourth quarter due to its late-December meltdown.
  
  Bed Bath & Beyond once again warned of bankruptcy after it said it didn’t have sufficient cash to pay down its debt.
  
  DoNotPay called off its plan to equip a defendant in court with its “robot lawyer,” citing threats of jail time.
  
  
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• GDP Grows (but Slows)
  The US economy grew at a ...
  The US economy grew at a 2.9% annualized rate in the final three months of last year, according to figures released yesterday, lower than the 3.2% pace seen in the third quarter of 2022 but slightly above analyst projections of 2.8%. 
  
  Consumer spending, which accounts for about two-thirds of gross domestic product, rose 2.1% during the fourth quarter. The largest headwind was the cooling housing market, where mortgage rates—driven by rising federal interest rates—have jumped from 3.5% to over 6.1% since last January (see data).
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• Friday's Stock Forecast
  US stock futures fall early Friday, following more downbeat quarterly earnings reports....
  US stock futures fall early Friday, following more downbeat quarterly earnings reports. Meanwhile, investors are now turning to the release of data on core inflation, personal income and spending, and pending home sales — all due today. Here are the latest market moves.
  
  Earnings on deck: Chevron, American Express, and more, all reporting.
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