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• Closing Oil and Gas Prices
  Benchmark U.S. crude oil for September delivery fell 26 cents to $90.50 a barrel Tuesday....
  Benchmark U.S. crude oil for September delivery fell 26 cents to $90.50 a barrel Tuesday. Brent crude for October delivery fell 34 cents to $96.31 a barrel.
  
  Wholesale gasoline for September delivery rose 7 cents to $2.96 a gallon. September heating oil rose 15 cents to $3.33 a gallon. September natural gas rose 24 cents to $7.83 per 1,000 cubic feet.
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• Don’t be fooled by a drop in U.S. headline inflation. Markets will be attuned to another figure on Wednesday.
  From MarketWatch: Traders, investors and economists...
  From MarketWatch: Traders, investors and economists are all counting on Wednesday’s consumer-price index report to show a decline in the annual headline U.S. inflation rate for July. But there’s another figure buried in the consumer-price index data that has the propensity to jolt markets.
  
  It’s called the core year-over-year CPI reading, a measure which strips out volatile food and energy costs. It came in at 5.9% for the 12 months that ended in June, and the consensus view is that it will inch up to 6.1% on a year-over-year basis for July. Gargi Chaudhuri of BlackRock Inc., the world’s largest money manager, sees the core reading coming in even a bit higher, at 6.2%, while a pair of Goldman Sachs analysts are warning that the near-term U.S. inflation picture “is likely to remain uncomfortably high.”
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• Stocks close lower Tuesday with markets focused on Wednesday's inflation data
  U.S. stocks finished lower Tuesday, with the Nasdaq Composite leading the way down, as investors await...
  U.S. stocks finished lower Tuesday, with the Nasdaq Composite leading the way down, as investors await a fresh inflation report to help gauge if the Federal Reserve's aggressive pace of rate hikes in 2022 has begun to cool the cost of living, pegged at a 41-year high in June. The Dow Jones Industrial Average DJIA, -0.18% fell about 56 points, or 0.2%, ending near 32,776. The S&P 500 index SPX, -0.42% shed 0.4%, booking its fourth session in a row of declines, while the Nasdaq Composite Index COMP, -1.19% shed 1.2%, according to FactSet data. Investors have been trying to gauge whether or not the red-hot U.S. labor market and other key aspects of inflation have become entrenched in the American economy, potentially making the central bank's goal of price stability harder to achieve, despite its recent course of jumbo rate hikes. That's made Wednesday's release of the July consumer-price index a key focus for investors. The CPI update is expected to show moderating price increases from last month, helping to pull the annual rate down to 8.7% from 9.1% in June, in part as households feel a bit of relief at the gas pump.
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• What Else is Brewing This Tuesday Morning ☕️
  Greg and Travis McMichael were sentenced to life in prison for the second time for committing a federal hate crime in murdering Ahmaud Arbery, a 25-year-old Black man.
  
  The US said it’ll send another $1 billion worth of military aid to Ukraine—its largest direct delivery of weapons since the war started.
  
  David McCullough, the Pulitzer Prize-winning author of beloved history books, died at 89.
  
  Jake Paul and his business partner Joey Levy raised $50 million for their sports betting and media company, Betr.
  
  
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• Devon Energy to buy Eagle Ford oil producer Validus in $1.8B deal
  Devon Energy (NYSE:...
  Devon Energy (NYSE:DVN) said Tuesday it agreed to acquire Eagle Ford shale operator Validus Energy for $1.8B in cash.
  
  Devon (DVN) said the acquisition secures a premier acreage position of 42K net acres (90% working interest) adjacent to the company's existing Eagle Ford leasehold.
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