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• The US launched new strikes against Houthi targets in Yemen
  The strikes—the third round since last week—targeted Houthi militants who were ...
  The strikes—the third round since last week—targeted Houthi militants who were preparing to launch missiles at both commercial and US Navy ships in the Red Sea, according to military officials. The US also said it was searching for two Navy SEALS who went missing on Friday during an operation to seize Iranian-made missile parts on their way to the Houthis. The news comes as Houthi rebels continue to attack civilian ships for what they say is retribution for Israel’s war against Hamas in Gaza. Shell became the latest major company to suspend shipments through the Red Sea as the conflict escalated.
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• ☕️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.
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• 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.
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• 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.
  
  
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• 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.
  
  

  
  
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