OklahomaMinerals.com

Snippets

• Dow scores 6th record close of 2024 at the start of a pivotal week for markets
  (Monday market close) U.S. stocks extended a...
  (Monday market close) U.S. stocks extended a strong month into the final week of January on Monday as investors await a heavy slate of mega-cap earnings and a Federal Reserve policy meeting that's widely expected to end with no change to benchmark interest rates. The S&P 500^® index (SPX) closed above 4,900 for the first time and posted a record close for the sixth time in the past seven days.
  
  The Dow Jones Industrial Average^® (DJI) also reached another all-time high, illustrating investors' buoyant attitudes following a string of stronger economic readings and continuing descent in inflation that many believe will prompt a Fed "pivot" to rate cuts at some point this year. Investors also have an eye on Friday's January jobs report, which is sure to factor into Fed policy discussions. Here's where the major benchmarks ended:
  

  
  
  • The S&P 500 index rose 36.96 points (0.8%) to 4,927.93; the Dow Jones Industrial Average gained 224.02 points (0.6%) to 38,333.45; the Nasdaq Composite^® (COMP) added 172.68 points (1.1%) to 15,628.04.
  
  
  • The 10-year Treasury note yield (TNX) dropped about 8 basis points to 4.08%.
  
  
  • The Cboe Volatility Index^® (VIX) rose 0.37 to 13.63.
  
  
  Read More
• Closing Oil & Gas Prices
  Benchmark U.S. crude oil for March delivery ...
  Benchmark U.S. crude oil for March delivery fell $1.23 to $76.78 per barrel Monday. Brent crude for March delivery fell $1.15 to $82.40 per barrel.
  
  Wholesale gasoline for February delivery fell 6 cents to $2.23 a gallon. February heating oil fell 1 cent to $2.83 a gallon. February natural gas fell 22 cents to $2.49 per 1,000 cubic feet.
  
  
  Read More
• Energy Sector Commentary
  The energy sector is off to a...

  The energy sector is off to a lower start, pressured by weakness in the crude complex. Meanwhile, the major equity futures are muted as investors await key economic data due later this week.

  
  

  WTI and Brent crude oil futures gave back earlier gains and are now in negative territory as traders weigh news that China’s Evergrande was ordered to liquidate by a Hong Kong court against escalating tensions in the Middle East. Over the weekend, property giant China Evergrande was ordered by a Hong Kong court to liquidate after failing to provide a concrete restructuring plan, which adds more uncertainty to China’s fragile housing market. A drone hit U.S. forces stationed in northeast Jordan near the Syrian border according to administration officials, which killed three American servicemen and injured over thirty. Several Republicans including Senator Lindsey Graham said Iran must be targeted directly for the incident. There were more attacks on ships in the Red Sea over the weekend including a tanker operated by Trafigura. A stronger dollar is also adding pressure to oil contracts.

  
  

  Natural gas futures are lower on forecasts for warmer temperatures in the next two weeks which should limit demand.

  Read More
• ✈️Boeing 737 Max 9s are back in the air
  Following FAA approval, Alaska Airlines and United sent the Boeing 737 Max 9 ...
  Following FAA approval, Alaska Airlines and United sent the Boeing 737 Max 9 back into the sky over the weekend, less than three weeks after one had to make an emergency landing when a door plug flew off the aircraft. Alaska COO Constance von Muehlen sat in the seat next to the door plug on the airline’s first 737 Max 9 flight following the incident, a show of confidence that the aircraft would no longer provide Apple with a way of demonstrating the durability of its iPhones. United, the only other US carrier that uses the Max 9 and the plane’s largest customer, resumed service on Saturday. Alaska said the groundings cost it $150 million, and it aims to present that bill to Boeing.
  Read More
• 🏈The Super Bowl will be red (Taylor’s version)
  The Kansas City Chiefs will face the San Francisco 49ers in the Super Bowl on Feb. 11 after defeating...
  The Kansas City Chiefs will face the San Francisco 49ers in the Super Bowl on Feb. 11 after defeating the Ravens and Lions, respectively, in Sunday’s NFL championship games. The Chiefs are aiming to become the first team since the 2004 Patriots to repeat as Super Bowl champs; it’s also their fourth Super Bowl appearance in the last five years. Pity Usher—the Super Bowl’s halftime performer will likely be upstaged by Taylor Swift, whose relationship with Travis Kelce will drive much of the hype over the next two weeks. American Airlines previewed what’s to come by unveiling new direct flights between Kansas City and host city Las Vegas for the game. One is numbered 1989, the other, 87.
  Read More

• Prev
• Next