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• ☕️What Else is Brewing Monday Morning
  Markets: Your stock portfolio is waking up this Monday...
  Markets: Your stock portfolio is waking up this Monday morning in worse shape than the guys in The Hangover. The S&P 500 just had its worst week in more than a year, and the Nasdaq is on a four-week losing streak. Blame skepticism that AI will meaningfully boost profits: Since the Nasdaq peaked last month, the largest US tech companies have lost more than $930 billion in market value. Nvidia alone lost $212 billion in value on Friday, its biggest plunge since March 2020.
  
  Sign of the times: Exxon Mobil is worth more than Tesla for the first time in more than a year.
  
  Ukrainian President Volodymyr Zelensky thanked the US House for passing a long-awaited $61 billion military assistance package and said it would save thousands of lives as Ukraine tries to repel Russia from its territory.
  
  The share of US voters who say they are highly interested in the upcoming presidential election hit a 20-year low at this point in the election calendar, per an NBC News poll.
  
  Spotify said Taylor Swift’s new album was the first to have over 300 million streams in a single day on Friday.
  
  Nikola Jokic arrived for the Denver Nuggets playoff game against the Los Angeles Lakers looking like Gru—it was part of a marketing campaign for Despicable Me 4.
  
  
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• US drillers add oil and gas rigs for first time in five weeks
  U.S. energy firms this week added oil and natural...

  U.S. energy firms this week added oil and natural gas rigs for the first time in five weeks, energy services firm Baker Hughes said in its closely followed report on Friday.

  
  The total oil and gas rig count, an early indicator of future output, rose by 2 to 619 in the week to April 19. Despite this week's rig increase, Baker Hughes said the total count was still down 134, or 18%, from last year.
  
  Baker Hughes said oil rigs rose 5 to 511 this week, their highest since September, while gas rigs fell 3 to 106, the lowest since December 2021.
  
  
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• MarketWatch: Oil ends below day’s highs as panic eases over Israel's retaliation against Iran
  Israel retaliated against Iran’s drone-and-missile attack last weekend...
  Israel retaliated against Iran’s drone-and-missile attack last weekend with what appeared to be a limited strike on Iran, the Wall Street Journal reported, citing people familiar with the matter.
  
  Oil hasn’t rallied because there “hasn’t been any increased risk to high-production countries in the region,” with Saudi Arabia, the United Arab Emirates, and Iraq staying out of the fray, Gary Cunningham, director of market research at Tradition Energy, told MarketWatch. “Really, only Iran’s barrels are at risk, and that would only be if wider hostilities broke out.”
  
  Benchmark U.S. crude oil for May delivery rose 41 cents to $83.14 per barrel Friday. Brent crude for June delivery rose 18 cents to $87.29 per barrel.
  
  Wholesale gasoline for May delivery was unchanged at $2.71 a gallon. May heating oil rose by 1 cent to $2.54 a gallon. May natural gas fell 1 cent to $1.75 per 1,000 cubic feet.
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• S&P 500 posts big weekly loss, Nasdaq sheds 2% as tech stocks drop Friday
  U.S. equities ended mostly lower on Friday, with the S&P 500 posting...
  U.S. equities ended mostly lower on Friday, with the S&P 500 posting a third straight week of losses as technology stocks slumped.
  
  The S&P 500 fell 43.89 points Friday, or 0.9%, to close at 4,967.23, booking its sixth consecutive daily decline.
  
  The Nasdaq dropped 319.49 points, or 2%, to finish at 15,282.01, also falling for a sixth straight day.
  
  The Dow Jones Industrial Average rose 211.02 points, or 0.6%, to end at 37,986.40.
  
  For the week, the S&P 500 dropped 3%, the tech-heavy Nasdaq sank 5.5% and the Dow eked out a less than 0.1% gain, according to Dow Jones Market Data. The Nasdaq logged a fourth straight week of losses, its longest losing streak since December 2022.
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• Weekly Gas Storage: Inventories increase by 50 Bcf
  The EIA has released its natural gas inventory report, showing...
  The EIA has released its natural gas inventory report, showing a net increase of 50 Bcf as of April 12, 2024.
  
  Working gas in storage was 2,333 Bcf as of Friday, April 12, 2024, according to EIA estimates. This represents a net increase of 50 Bcf from the previous week. Stocks were 424 Bcf higher than last year at this time and 622 Bcf above the five-year average of 1,711 Bcf.
  
  At 2,333 Bcf, the total working gas is within the five-year historical range. [Source: EIA]
  
  
  
   
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