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• ☕️What Else is Brewing Wednesday Morning
  House Republicans impeached Alejandro Mayorkas on their second try. The Homeland Security...
  House Republicans impeached Alejandro Mayorkas on their second try. The Homeland Security Secretary was impeached by a single vote on Tuesday night, preventing a second embarrassment for House GOP members after their first attempt to punish Mayorkas for his alleged mishandling of the southern border failed. Republicans tried for months to impeach Mayorkas, even though bipartisan legal scholars say his actions do not constitute “high crimes and misdemeanors” required for a conviction, while many observers argue the impeachment attempt itself is unconstitutional. Mayorkas is now the first sitting cabinet member in US history to be impeached. The charges are likely to be rejected in the Senate.
  
  OpenAI is testing a new ChatGPT feature that gives the chatbot the ability to remember information about users from one interaction to the next.
  
  Elon Musk denied reports that Starlink is selling terminals to Russia amid its invasion of Ukraine.
  
  Netflix will hold its first in-person upfront presentation for advertisers in May as it builds out its cheaper, ad-supported subscription tier.
  
  Paramount Global cut 800 jobs, or about 3% of its workforce, just two days after its network, CBS, garnered record-breaking Super Bowl ratings.
  
  Katy Perry announced she’s leaving American Idol at the end of this season, after seven seasons as a judge on the reality singing show.
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• Closing Oil & Gas Prices
  Benchmark U.S. crude oil for March delivery ...
  Benchmark U.S. crude oil for March delivery rose 95 cents to $77.87 per barrel Tuesday. Brent crude for April delivery rose 77 cents to $82.77 per barrel.
  
  Wholesale gasoline for March delivery rose 2 cents to $2.39 a gallon. March heating oil fell 2 cents to $2.90 a gallon. March natural gas fell 8 cents to $1.69 per 1,000 cubic feet.
  
  
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• Dow ends over 500 points lower after hotter-than-expected inflation data
  U.S. stocks ended sharply lower on Tuesday, as the market pushed back...
  U.S. stocks ended sharply lower on Tuesday, as the market pushed back its expectation on the timing of the Federal Reserve's first interest-rate cut this year after January's consumer-price index inflation reading came in hotter than expected.
  
  The Dow Jones Industrial Average fell about 1.4% on Tuesday, according to preliminary closing data from FactSet. The S&P 500 finished down about 1.4%, and the Nasdaq Composite ended roughly 1.8% lower.
  
  
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• Fat Tuesday Arrives
  Cities around the world are...
  Cities around the world are set to celebrate Mardi Gras today, the final day before the Christian fasting and religious observance period of Lent begins. Mardi Gras is the culmination of the Carnival season, which officially begins Jan. 6 every year—the 12th day after Christmas—and ends the day before Ash Wednesday. 
  
  New Orleans is considered the home to the best-known Fat Tuesday festivities in the US, with at least 1 million visitors typically flocking to the city and helping to bring in up to $1B in revenue. (Although Mobile, Alabama, claims to have hosted the first Mardi Gras celebrations in the US.) The revelries also generate thousands of pounds of discarded beads; in 2018, New Orleans said it had found over 92,000 pounds of beads in its storm drains along five blocks of a parade route.
  
  New Orleans' Mardi Gras-focused social clubs, known as krewes (see overview), will culminate Carnival season today with several parades featuring elaborate floats, including by the famous krewes of Rex and Zulu. Watch a livestream of the event here (10 am ET). See how some of the floats are made here. 
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• U.S. stock futures slide after hotter-than-expected January CPI
  U.S. stock futures aren't loving the January CPI Index. ...
  U.S. stock futures aren't loving the January CPI Index. Futures jerked sharply lower ahead of the open on Tuesday after the January CPI Index came in hotter than expected, with core inflation showing a 0.4% increase last month, compared with 0.3% expected by economists polled by The Wall Street Journal.
  
  Here is where the main index futures stood after the data:
  
  S&P 500 futures were off 1.1% at 4,987.
  
  Nasdaq-100 futures were off by 1.5% at 17,701.
  
  Dow futures were off by 282 points, or 0.7%, at 38,600.
  
  Meanwhile, Treasury yields shot higher, with the 10-year yield up 11 basis points to 4.28%, hitting its second-highest level of the year intraday.
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