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• Total US Oil & Gas Rig Count Declines
  U.S. energy firms this week cut the number of oil and natural gas rigs for a second week in a row as...
  U.S. energy firms this week cut the number of oil and natural gas rigs for a second week in a row as the rig count, an early indicator of future output has been slow to grow with oil production only seen recovering from pandemic-related cuts next year.
  
  The total U.S. oil and gas rig count fell by one to 763 in the week to Aug. 12, while oil rigs rose three to 601 this week, and gas rigs fell one to 160.
  
  That was the first time the rig count fell for two consecutive weeks since August 2020.
  
  Baker Hughes said that puts the total count up 263 rigs, or 53%, over this time last year.
  
   
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• What Else is Brewing This Friday Morning
  McDonald’s is preparing to reopen locations in Ukraine after closing them following Russia’s invasion.
  
  Major publishers are buying ads in mobile games like Subway Surfers to juice traffic. It’s considered a deceptive practice in the industry.
  
  Amazon is expanding its palm-scanning payment tech to more than 65 Whole Foods locations in California.
  
  Activist investor ValueAct has taken a 6.7% stake in the New York Times, and is pushing the company to roll out more bundles exclusively for subscribers.
  
  
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• Declining gas prices helped ease July's CPI reading
  Declining gas prices helped ease July's CPI reading even as inflation remains hot. The...
  Declining gas prices helped ease July's CPI reading even as inflation remains hot. The CPI rose 8.5% year-over-year, Wednesday data showed, and tumbling prices at the pump accounted for much of the slowdown. However, gas prices remain more than 25% higher than a year ago.
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• Home prices likely to slow down
  Goldman Sachs said home price growth is likely to slow down dramatically for the rest of this...
  Goldman Sachs said home price growth is likely to slow down dramatically for the rest of this year and next. Analysts have forecasted a 9.4% year-over-year home price growth for 2022 — but most of that growth has already happened. Here's why prices could actually drop before the new year hits.
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• U.S. stocks open higher, with S&P 500 heading for potential weekly gain
  U.S. stocks opened higher Friday, with investors continuing to weigh signs of easing inflation as all...
  U.S. stocks opened higher Friday, with investors continuing to weigh signs of easing inflation as all three major benchmarks head for potential weekly gains. The Dow Jones Industrial Average DJIA, 0.52% rose 0.4% soon after the opening bell, while the S&P 500 SPX, 0.63% gained 0.5% and the Nasdaq Composite COMP, 0.73% rose 0.7%, according to FactSet data, at last check. The U.S. Bureau of Labor Statistics said Friday that the cost of imported goods fell 1.4% in July, the first decline since December and the largest drop since April 2020. Investors will see a reading on 5-year inflation expectations from a University of Michigan survey at 10 a.m. Eastern Time. The S&P 500 is on track for a weekly gain of around 2%.
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