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• ☕️What Else is Brewing Monday Morning
  Drones hit buildings in Moscow on Sunday in a series of attacks Russia blamed on Ukraine. ...
  Drones hit buildings in Moscow on Sunday in a series of attacks Russia blamed on Ukraine. Ukraine President Volodymyr Zelensky said, “The war is gradually returning to Russia’s territory.”
  
  X (formerly Twitter) reinstated Kanye West’s account after a nearly eight-month suspension.
  
  Sizzling temps in the US Southwest are set to ease this week with the arrival of monsoon rains.
  
  American swimmer Katie Ledecky broke Michael Phelps’s record with her 16th individual gold medal at the world championships.
  
  “A female microscopic roundworm that spent the last 46,000 years in suspended animation deep in the Siberian permafrost was revived and started having babies in a laboratory dish,” the Washington Post reports.
  
  
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• Market Outlook July 31, 2023
  As a soft landing for the economy comes into view, the S&P 500 is on track to wrap up July with its ...
  As a soft landing for the economy comes into view, the S&P 500 is on track to wrap up July with its fifth-straight monthly gain (unless we just jinxed it). But flipping the calendar comes with perils: Over the last 30 years, August and September have been the worst two months for the index, according to Bloomberg.
  
  Exxon Mobil and Chevron shares fall after posting earnings roughly 50% lower than last year’s second quarter amid reduced energy prices (More)
  
  Earnings on deck today: Mitsubishi Electric, Panasonic, Heineken, and other companies.
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• Antero Resources Records Q2 Loss
  Antero Resources Corp. posted a net loss but continues to strengthen...
  Antero Resources Corp. posted a net loss but continues to strengthen its drilling and operational efficiencies, picking up additional inventory in an active second quarter.
  
  The company added approximately 8,000 net acres, representing over 27 incremental drilling locations — an average cost of $1 million per location — in a $36 million leasing program.
  
  For the quarter, Antero posted an $83 million net loss compared to its second-quarter 2022 net income of $765 million while also achieving operational records, the company announced late last week.
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• Debt-ridden trucking giant Yellow reportedly shuts down
  Yellow Corp., one of the largest trucking companies in the country,...
  Yellow Corp., one of the largest trucking companies in the country, shut down Sunday as it prepares to file for bankruptcy, the Wall Street Journal reported.
  
  According to the Journal, Yellow YELL, +24.02% alerted employees and customers Sunday that it would cease all operations by midday. The move does not come as a big surprise — Yellow has seen customers flee in recent years and a bankruptcy filing has been widely expected, with liquidation likely to follow.
  
  Yellow’s collapse imperils the jobs of about 30,000 people, including about 20,000 Teamsters, according to the Journal. Many of the company’s non-union workers were reportedly laid off Friday.
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• US drillers cut oil rigs for eighth month in a row
  U.S. energy firms in July cut the number of oil rigs for an eighth straight month...

  U.S. energy firms in July cut the number of oil rigs for an eighth straight month while adding natural gas rigs for the first time in three months, energy services firm Baker Hughes said in its closely followed report on Friday.

  
  

  This week, drillers cut the number of total oil and gas rigs operating for a third week in a row.

  
  

  The total oil and gas rig count, an early indicator of future output, fell by five to 664 in the week to July 28, the lowest since March 2022, which puts the total rig count down 103, or 13%, below this time last year.

  
  

  U.S. oil rigs fell by one to 529 this week, their lowest since March 2022, while gas rigs decreased by three to 128.

  
  

  For the month, drillers cut 10 total oil and gas rigs in July, the smallest decline in three months.

  
  

  Oil rigs dropped by 16 rigs in July. That put the oil count down for an eighth month in a row for the first time since drillers cut oil rigs for a record 12 consecutive months through November 2019. Gas rigs, meanwhile, rose by four rigs in July, their first increase in three months.

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