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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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• ☕️What Else is Brewing Friday Morning
  GDP goes boom. US GDP grew 3.3% in Q4, per the Commerce Department, ...
  GDP goes boom. US GDP grew 3.3% in Q4, per the Commerce Department, annihilating Wall Street’s expectations of 2% growth. For the year, the US economy expanded 2.5% in 2023, up from 1.9% in 2022. That also outpaced Wall Street’s estimates from the beginning of the year. The growth was driven by strong consumer spending made possible by rising wages and a sturdy job market, even as the country dealt with inflation. That, too, improved in Q4: Prices increased 2.7% on an annual basis, down from a 5.9% increase the year prior. The GDP smash adds more fuel to the expectation that the Fed will cut interest rates this year.
  
  Robitussin cough syrup was recalled nationwide for microbial contamination.
  
  Skydance Media is reportedly considering acquiring all of Paramount Global.
  
  Apple said it will overhaul iOS, Safari, and the App Store in the European Union in order to appease antitrust regulators.
  
  The FTC launched an inquiry into artificial intelligence investments and deals made by Amazon, Alphabet, Anthropic, Microsoft, and OpenAI.
  
  The Pokémon Company said it is prepared to defend its intellectual property after the game Palworld went viral for being eerily similar to Pokémon (except with guns).
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