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• ☕️What Else is Brewing Saturday Morning
  Markets: Stocks ...
  Markets: Stocks wobbled in the first trading day of 2026, unable to decide if they wanted to start the new year with a bang or a whimper, before ending the day up by a hair. Chip stocks had a good day, but couldn’t pull the Nasdaq out of the red. Elsewhere, Pinterest jumped by a few points following a report that OpenAI could buy it.
  
  Swiss authorities said that sparklers on champagne bottles likely caused the New Year’s fire that killed at least 40 at the Crans-Montana ski resort.
  
  President Trump said the US is “locked and loaded and ready to go” if Iran violently cracks down on widening anti-government protests in the country.
  
  Grok, Elon Musk’s AI chatbot, said it was “urgently fixing” an issue that allowed it to generate sexualized images of children.
  
  Saks CEO Marc Metrick stepped down as the luxury retailer reportedly considers filing for bankruptcy.
  
  The 2025 North American box office totaled $8.9 billion in 2025—up by 2% from 2024, but still well below prepandemic levels.
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• US Oil Drilling Activity Ends Down for 2025, But Production Still Near Highs
  The total number of active oil and gas drilling...

  The total number of active oil and gas drilling rigs in the United States rose by 1 this week, according to new data Baker Hughes published earlier this week, bringing the total rig count in the US to 546, down 43 from this same time last year.

  
  The number of active oil rigs rose by 3 in the reporting period for the second week in a row, according to the data. Oil rigs are now at 412, which is 70 fewer than at this time last year. The number of gas rigs fell by 2 to 125, which is 22 more than this time last year. The miscellaneous rig count remained unchanged at 9.
  
  The latest EIA data showed that weekly U.S. crude oil production rose slightly by 2,000 bpd in the week ending December 26 to 13.827 million bpd on average, just 26,000 bpd under the all-time high reached just three weeks ago.
  
  U.S. crude production remains close to recent highs even with far fewer rigs operating than a year ago. Weekly output has been largely stable over the past month, despite only modest changes in drilling activity. The rig count, at least so far, has not been a reliable signal for near-term supply shifts.
  
  The number of active drilling rigs in the Permian Basin remained at 247, 57 rigs below year-ago levels. The Eagle Ford count slipped by 1 to 40, 5 fewer than at this time last year.
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• U.S. stocks close mostly higher as Dow, S&P 500 kick off 2026 with gains
  Major Indices: The S&P 500 closed up...
  
  
  • Major Indices: The S&P 500 closed up 0.19% at 6,858.47 on the first trading day of 2026. The Dow Jones Industrial Average gained 319.10 points, or 0.66%, to settle at 48,382.39, while the Nasdaq Composite slipped 0.03% to finish at 23,235.63.
  
  
  • Market Movement: Both the S&P 500 and Nasdaq had been much stronger earlier in the session, with the S&P 500 and Nasdaq trading higher by 0.7% and 1.5% at their peaks respectively, before pulling back by the close.
  
  
  • Winners: Semiconductor stocks provided support, with Micron Technology hitting all-time highs and rising more than 7%
  
  
  • The small-cap Russell 2000 added 1.1%, outpacing the broader market
  
  
  • Wayfair jumped around 6% and RH increased roughly 8% after President Trump postponed tariff increases on upholstered furniture and kitchen cabinets
  
  
  • Vertiv shares popped 8% after a Barclays upgrade, while Sandisk jumped almost 11%
  
  
  • Losers:  Tesla stock fell after the EV maker's deliveries missed expectations
  
  
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• DAILY OIL PRICE: January 2, 2026
  Crude Oil: 57.32   (-0.10)....
  
  
  • Crude Oil: 57.32   (-0.10).
  
  
  • Nymex MTD AVG: 57.3700.
  
  
  • Natural Gas: 3.618   (-0.068).
  
  
  • Gasoline: 1.6982   (-0.0072).
  
  
  • Spreads: February/March (+0.20)     March/April (+0.14).
  
  
  • Plains WTI Posting: 53.80   (-0.10).
  
  

  
  Source: Odessa American
  
  
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• ☕️What Else is Brewing Friday Morning
  Markets: The stock market was closed yesterday to give...
  Markets: The stock market was closed yesterday to give traders time to sleep it off start the new year off right. And although stocks dipped slightly on Wednesday before the champagne started flowing, they still capped off an impressive year. Despite volatility as the market reacted to ever-changing tariff news, hope for AI (which some fear is a bubble) carried the day. All three major indexes rose over 2025, and the S&P 500 clinched its third straight year of double-digit gains. It’s also likely to be remembered as the year retail investors joined the big leagues.
  
  A fire at a New Year’s party in a Swiss ski resort’s bar killed about 40 people and left more than 100 injured, authorities said yesterday.
  
  Zohran Mamdani was sworn in as the mayor of New York City, after campaigning on addressing affordability with changes like free buses and child care. Many of his ambitious proposals would require raising taxes on wealthy New Yorkers—something that would require support from the state government.
  
  Multiple people were killed amid protests in Iran over economic conditions.
  
  Tariffs on furniture and kitchen cabinets that President Trump had slated to begin yesterday were delayed for a year. The US also sharply lowered planned tariffs on Italian pasta.
  
  The ACA subsidies at the heart of the government shutdown fight expired, raising insurance premiums for millions of Americans.
  
  President Trump said Wednesday that he would withdraw National Guard troops from Chicago, Los Angeles, and Portland, Oregon. The announcement came after the Supreme Court upheld a ruling blocking the deployment in Chicago.
  
  Betty Boop entered the public domain yesterday after the copyright protection on the cartoon character expired. Notable works about several fictional detectives also became available for public use, including writings about Nancy Drew, Sam Spade, and Miss Marple.
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