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• 🚀SpaceX Launch Makes History
  History was made on yesterday’s SpaceX launch. NASA astronaut Nicole Mann became the...
  History was made on yesterday’s SpaceX launch. NASA astronaut Nicole Mann became the first Native American woman to go to space, joining three others on a trip to the International Space Station aboard a SpaceX Crew Dragon vehicle. It was SpaceX’s sixth crewed mission to the ISS for NASA since 2020.
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• OPEC+ Cuts Oil Supply
  An alliance of petroleum exporting countries and its allies, known as OPEC+, has agreed to ...

  An alliance of petroleum exporting countries and its allies, known as OPEC+, has agreed to slash oil output by 2 million barrels per day, starting in November. The cut, equal to 2% of the world's daily oil supply and the largest since April 2020, is meant to increase oil prices that have fallen due to recession fears. The global cost of a barrel has hovered around $90, down from $120 in June.

  
  OPEC+ (see 101) controls more than 40% of the world's oil production and previously has targeted a supply of 43.8 million barrels per day. The US, which is not a member of OPEC+ and has control over its own supply, opposed production cuts to help secure lower energy prices for US consumers. The US said it would release 10 million barrels of oil from its strategic petroleum reserve in November. 
  
  OPEC and its allies will meet again in December.
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• U.S. stocks finish in the red after late-day rally fizzles
  Stocks ended with small losses but well off session lows Wednesday,...
  Stocks ended with small losses but well off session lows Wednesday, losing steam after kicking off the month and fourth quarter with strong back-to-back gains. The Dow Jones Industrial Average DJIA, -0.14% fell around 42 points, or 0.1%, to end near 30,275, according to preliminary figures. The S&P 500 SPX, -0.20% declined around 7 points, or 0.2%, to finish near 3,784, while the Nasdaq Composite COMP, -0.25% lost around 28 points, or 0.2%, closing near 11,149. Major indexes ended Friday at their lowest since 2020, capping a brutal September, then posted a strong rebound to start this week on renewed speculation the Federal Reserve may be coming nearer the end of its rate-hike cycle.
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• API data show drop in US crude oil, product stockpiles
  The American Petroleum Institute (API) reported a surprise draw...
  The American Petroleum Institute (API) reported a surprise draw this week for crude oil of 1.770 million barrels, while analysts predicted a build of 333,000 barrels. U.S. crude inventories have grown by roughly 21 million barrels so far this year, according to API data, while the U.S. Strategic Petroleum Reserves fell by nearly eight times that figure.
  
  The draw comes even as the Department of Energy released 6.2 million barrels from the Strategic Petroleum Reserves in the week ending September 30 that left the SPR with 416.4 million barrels.
  
  In the week prior, the API reported a build in crude oil inventories of 4.150 million barrels after analysts had predicted a small build of 333,000 barrels.
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• ☕️What Else is Brewing Wednesday Morning
  Ray Dalio is giving up control of Bridgewater Associates, the hedge fund he started nearly 50 years ago that grew to become the largest of its kind in the world.
  
  Loretta Lynn, country music icon, died at 90.
  
  Micron said it will invest up to $100 billion in the next two decades in a chip factory complex in upstate NY.
  
  That Northeastern University exploding package from last month turned out to be a hoax, police said.
  
  It’s Yom Kippur. Wishing our Jewish readers an easy fast.
  
  
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