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• ☕️What Else is Brewing Thursday Morning
  🔔 Before the opening bell: US futures inch higher ...
  🔔 Before the opening bell: US futures inch higher early Thursday as investors await data on jobless claims and pending home sales.
  
  NBA approves majority stake sale of Dallas Mavericks from Mark Cuban to casino magnate Miriam Adelson for a reported $3.5B (More) | Detroit Pistons' losing streak reaches NBA single-season record 27 games (More)
  
  The US Space Force is expected to launch its new reusable space plane. The secretive project’s purposes are unknown. But it’ll be aboard a SpaceX Falcon Heavy rocket.
  
  It’s National Call a Friend Day. The day is meant to show appreciation — beyond texting and voice memos.
  
  Happy birthday, Denzel Washington. John Legend, Seth Meyers, Maitreyi Ramakrishnan, and Woodrow Wilson were also born on this day.
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• Closing Market Update for Wednesday
  (Wednesday market close) The ...

  (Wednesday market close) The Dow Jones Industrial Average® (DJI) edged to another all-time high close Wednesday while other benchmarks were little changed in light holiday season activity. Many investors remained sidelined and waiting for the first week of the new year, which will bring a key jobs report and other numbers likely to influence the Federal Reserve's path on interest rates.

  
  

  With little earnings or economic news scheduled this week, the market largely remained in a holding pattern, though with a continued upside bias driven by expectations for multiple Fed rate cuts in 2024 and a potential economic "soft landing." Another drop in Treasury yields reinforced ideas U.S. interest rates established a peak about two months ago. The 10-year note (TNX) fell to a five-month low under 3.80%.

  
  

  The S&P 500® index (SPX) rose for a fourth straight day and ended within 0.3% of its record-closing high of 4,796.56, posted on January 3, 2022.

  
  

  The market conveys "a bit of exhaustion and profit-taking sentiment" in the wake of the strong rally for the past two months, said Kevin Gordon, senior investment strategist at Schwab. "But it's not anything major because we’re in a quieter period right now. I think momentum will pick up next week given the slate of economic data we’ll be getting." Here's where the major benchmarks ended:

  
  The S&P 500 index was up 6.83 points (0.1%) at 4,781.58; the Dow Jones Industrial Average was up 111.19 points (0.3%) at 37,656.52; the Nasdaq Composite® (COMP) was up 24.60 points (0.2%) at 15,099.18.
  
  The 10-year Treasury note yield was down over 9 basis points at 3.791%.
  
  The Cboe® Volatility Index (VIX) was down 0.49 at 12.50.
  
  
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• Closing Oil & Gas Prices for Wednesday
  Benchmark U.S. crude oil for February delivery...

  Benchmark U.S. crude oil for February delivery fell $1.46 to $74.11 per barrel Wednesday. Brent crude for February delivery fell $1.42 to $79.65 per barrel.

  
  

  Wholesale gasoline for January delivery fell 1 cent to $2.15 a gallon. January heating oil fell 5 cents to $2.62 a gallon. January natural gas rose 7 cents to $2.62 per 1,000 cubic feet.

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• Williams Buys Gulf Coast Natgas Storage for $1.95B
  Williams has reached an agreement to acquire a portfolio of natural gas storage assets...

  Williams has reached an agreement to acquire a portfolio of natural gas storage assets from an affiliate of Hartree Partners LP for $1.95 billion, the company said Dec. 27.

  
  

  The transaction includes six underground natural gas storage facilities in Louisiana and Mississippi with a total capacity of 115 Bcf, as well as 230 miles of gas transmission pipeline and 30 pipeline interconnects to attractive markets, including LNG markets, and connections to Transco, the nation’s largest natural gas transmission pipeline.

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• Egypt Floats Peace Proposal
  Top Israeli officials are reviewing...

  Top Israeli officials are reviewing a draft peace proposal crafted by neighboring Egypt to end fighting in the Gaza Strip, focusing on initial steps including renewed hostage and prisoner swaps, according to reports yesterday. The role of Hamas in a postwar governing structure—a nonstarter for Israel, say experts—remains a key hurdle. Hamas and partner militant group Islamic Jihad were said to have quickly dismissed Egypt's plan.

  
  

  Discussions come as the Israeli military said it had expanded operations into urban refugee centers in central Gaza, where Hamas leaders claim at least 70 people were killed in an airstrike at the al-Maghazi camp. Israel said it was reviewing the incident.

  
  

  Israeli Prime Minister Benjamin Netanyahu visited troops in northern Gaza Sunday, reiterating the war may continue for months. He has faced increasing pressure to focus on the safe return of about 130 hostages still held by Hamas—family members booed Netanyahu during a Monday speech to the country's legislature.

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