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• ☕️What Else is Brewing Wednesday Morning
  Caroline Ellison sentenced to two years for FTX fraud. The...
  Caroline Ellison sentenced to two years for FTX fraud. The ex-girlfriend and accomplice of convicted FTX fraudster Sam Bankman-Fried was sentenced to 24 months at a minimum security prison by Judge Lewis Kaplan for her role in the collapse of the crypto exchange. Ellison and her lawyers sought no prison time, while prosecutors acknowledged that a lenient sentence was justified after she cooperated with the investigation against SBF and showed remorse for the part she played in defrauding investors. Kaplan praised Ellison’s cooperation but said “there cannot be a get out of jail free card” for a crime of that magnitude. SBF was sentenced to 25 years in March for orchestrating the crypto scam.
  
  Tropical Storm Helene is forecast to become a hurricane and then move into the Gulf of Mexico this week, putting Florida and southern Georgia at risk of heavy rains and dangerous winds.
  
  Coca-Cola pulled its new flavor, Spiced, from shelves after just six months because apparently neither you nor anyone you know was interested in it.
  
  US News & World Report released its annual college rankings, with Princeton at No. 1.
  
  Warner Bros. Discovery is partnering with Google to use AI to automatically generate captions on the Max streaming service.
  
  A top Chinese economist disappeared after criticizing Xi Jinping’s handling of the country’s economy in a private group chat, the WSJ reported.
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• Oil climbs 2% to three-week high on China stimulus, Mideast conflict
  On Tuesday, oil prices climbed about 2% to a three-week high on news...
  On Tuesday, oil prices climbed about 2% to a three-week high on news of monetary stimulus from China, the world's top crude importer, amid concerns that growing conflict in the Middle East could hit regional supply.
  
  Oil markets gave up some earlier gains as it became clearer that a hurricane threatening the U.S. Gulf Coast later this week would likely miss most offshore oil and natural gas-producing regions and hit Florida. The region accounts for 15% of the country's oil and 2% of natural gas production.
  
  Brent futures rose $1.27, or 1.7%, to settle at $75.17 a barrel, while U.S. West Texas Intermediate (WTI) crude rose $1.19, or 1.7%, to settle at $71.56.
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• Dow, S&P 500 score fresh records as stocks finish with modest gains
  U.S. stocks finished higher on Tuesday with the S&P...

  U.S. stocks finished higher on Tuesday with the S&P 500 and the Dow Jones Industrial Average eking out modest gains to end at record levels as the post-Fed rate-cut rally gained more steam.

  
  

  The Dow Jones rose 0.2%, to end near 42,208. The blue-chip index was up for the fourth consecutive trading day, while posting its 31st all-time closing high of the year.

  
  

  The S&P 500 added less than 0.3%, to finish near 5,732, a new closing high. It was the 41st record close for the large-cap benchmark index so far in 2024.

  
  

  The Nasdaq Composite advanced 0.6%, ending near 18,074.

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• Tropical Storm Helene intensifies, Florida declares state of emergency and starts evacuations
  A state of emergency has been declared in Florida, and evacuations are...
  A state of emergency has been declared in Florida, and evacuations are underway as Tropical Storm Helene strengthens. Residents in the storm's potential path have been told to prepare for up to a week without electricity.
  
  "Now is the time to make an emergency plan," Gov. Ron DeSantis said at a press conference on Tuesday.
  
  The storm, which is still taking shape, could become the strongest hurricane to hit the United States this season. The Weather Channel reports Helene will likely be a hurricane in the Gulf of Mexico by Wednesday.
  
  Forecast to rapidly intensify and come ashore as a Category 3 storm with sustained winds exceeding 111 miles per hour, Helene poses a significant threat to Florida residents.
  
  
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• VTX Energy Quickly Ramps to 42,000 bbl/d in Southern Delaware Basin
  Vitol-backed VTX Energy has quickly ramped...
  
  
  Vitol-backed VTX Energy has quickly ramped its southern Delaware Basin production from 500 gross bbl/d of oil and condensate in late 2022 to 42,000 gross bbl/d south of Monahans, Texas.
  
  Since accumulating and taking over operations in a roughly 46,000-net acre position straddling Pecos and Reeves counties in 2023, the Austin, Texas-based E&P completed 33 new wells through April, according to Texas Railroad Commission (RRC) data.
  
  The RRC keeps newer completion data confidential for six months.
  
  
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