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• ☕️What Else is Brewing Saturday Morning
  Jamie Dimon shuffles JPMorgan execs in possible search for successor. We’re pretty...
  Jamie Dimon shuffles JPMorgan execs in possible search for successor. We’re pretty sure it didn’t involve a game of Boar on the Floor, but Jamie Dimon did find a way to heat up the battle to succeed him as head of the world’s biggest bank by changing up some leaders’ roles. COO Daniel Pinto will step aside from running the corporate and investment bank while continuing on as Dimon’s right hand, leaving room for two new execs to take over that division. But no matter who might be in position to come after him, Dimon probably doesn’t plan to step down any time soon.
  
  George Carlin’s estate filed a lawsuit over a comedy special that used AI to recreate the late comedian’s voice and style. And, in other celebrity deepfake news, Taylor Swift’s fans rallied to block fake, AI-generated explicit images of the singer that proliferated on X.
  
  Vince McMahon resigned as chair of TKO and left its board after a former employee accused the WWE founder of sex trafficking in a lawsuit filed this week.
  
  JetBlue said it might not close its deal to buy Spirit, even though the airlines are appealing a judge’s decision to block it.
  
  Today is International Holocaust Remembrance Day. A recent study found that nearly 80 years later, 245,000 Jewish Holocaust survivors are still alive and residing in more than 90 countries.
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• Dow posts Friday gain even as S&P 500 and Nasdaq win streaks end at six sessions
  (Friday market close) Major U.S. equity benchmarks ended mixed Friday but still posted...
  (Friday market close) Major U.S. equity benchmarks ended mixed Friday but still posted gains for the week after the Federal Reserve's favored inflation gauge, the Personal Consumption Expenditures (PCE), bolstered investor conviction the central bank is poised to cut interest rates for the first time in four years. The Dow Jones Industrial Average^® (DJI) edged to a record-high close for the third day this week.
  
  Earlier Friday, the government said PCE prices in December rose 0.2%, both overall and in the core rate, which excludes food and energy. Additionally, the closely followed year-over-year core PCE rate rose 2.9%, down from 3.2% in November and the lowest monthly figure since March 2021.
  
  Kevin Gordon, senior investment strategist at Schwab, deemed the PCE report "overall, pretty healthy." He added, however, that one report "doesn't do much to change the Fed's thinking in the near term; the Fed probably wants to see more reports like this to feel confident that inflation is on track to stay near its 2% inflation target."   Here's where the major benchmarks ended:
  
  The S&P 500^® index (SPX) fell 3.19 points (0.1%) to 4,890.97, up 1.1% for the week; the Dow Jones Industrial Average gained 60.30 points (0.2%) to 38,109.43, up 0.6% for the week;
  
  the Nasdaq Composite^® (COMP) dropped 55.13 points (0.4%) to 15,455.36, still up 0.9% for the week.
  
  The 10-year Treasury note yield (TNX) rose about 1 basis point to 4.143%.
  
  The Cboe Volatility Index^® (VIX) fell 0.19 to 13.26.
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• Closing Oil & Gas Prices for Friday
  Benchmark U.S. crude oil for March delivery ...
  Benchmark U.S. crude oil for March delivery rose 65 cents to $78.01 per barrel Friday. Brent crude for March delivery rose $1.12 to $83.55 per barrel.
  
  Wholesale gasoline for February delivery rose 3 cents to $2.29 a gallon. February heating oil rose 4 cents to $2.84 a gallon. February natural gas rose 14 cents to $2.71 per 1,000 cubic feet.
  
  
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• Princeton, others turning up the heat with geothermal
  Colleges and universities, as hubs for education and research, are known for being ahead of the curve...
  Colleges and universities, as hubs for education and research, are known for being ahead of the curve when trying out new ideas. Still, one technology, in particular, is rapidly gaining traction at Princeton, Cornell, Columbia, Brown and other institutions. These schools and many others are testing geothermal heating systems to reduce carbon emissions. Princeton has one of the more advanced strategies and plans to drill more than 2,000 boreholes that will heat its campus using a type of geothermal technology known as geo-exchange.
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• US refiners gear up for long overdue maintenance
  US refiners catching up on deferred maintenance could make this the busiest year on record for refinery...
  US refiners catching up on deferred maintenance could make this the busiest year on record for refinery turnarounds, according to Joseph Israel, executive vice president of operations at US refiner Delek. The recent cold blast that disrupted refinery operations kicked off the spring maintenance season earlier than expected, said Israel, who sees maintenance activity peaking in late December and early 2025.
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