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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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• MarketWatch Live: U.S. stock-market futures reverse course to post gains
  After briefly treading water in the wake of Friday's PCE data, U.S. stock futures have moved higher,...
  After briefly treading water in the wake of Friday's PCE data, U.S. stock futures have moved higher, with the S&P 500 turning green on the day. The move comes as traders digest inflation data showing core prices rose in December at the slowest pace since the spring of 2021.
  
  Here is where the main index futures were trading:
  

  
  
  • S&P 500 up 0.1% at 4927.
  
  
  • Dow futures were flat at 38213.
  
  
  • Nasdaq-100 futures were down 0.2% at 17602.
  
  
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• Closing Oil & Gas Prices
  Benchmark U.S. crude oil for March delivery...
  Benchmark U.S. crude oil for March delivery rose $2.27 to $77.36 per barrel Thursday. Brent crude for March delivery rose $2.39 to $82.43 per barrel.
  
  Wholesale gasoline for February delivery rose 5 cents to $2.26 a gallon. February heating oil rose 12 cents to $2.80 a gallon. February natural gas fell 7 cents to $2.57 per 1,000 cubic feet.
  
  
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• S&P 500 climbs for sixth straight day, logs fifth consecutive record close
  (Thursday market close) The...
  (Thursday market close) The S&P 500^® index (SPX) extended its record winning streak to five days Thursday as a stronger-than-expected Gross Domestic Product (GDP) report fueled investor optimism over the economy, helping offset a 12% tumble in Tesla (TSLA) shares that weighed on the Nasdaq Composite^® (COMP).
  
  Early Thursday, the government reported U.S. GDP expanded at a 3.3% annual rate in the fourth quarter of 2023. While that was slower than 4.9% growth in the third quarter, it still blew past analysts' expectations for a number closer to 2%. The GDP report also included further indications of easing inflation.  Here's where the major benchmarks ended:
  
  The S&P 500 index rose 25.61 points (0.5%) to 4,894.16, a record high close; the Dow Jones Industrial Average^® (DJI) gained 242.74 points (0.6%) to 38,049.13, also a record high; the Nasdaq Composite rose 28.58 points (0.2%) to 15,510.50.
  
  The 10-year Treasury note yield (TNX) fell about 5 basis points to 4.13%.
  
  The Cboe Volatility Index^® (VIX) rose 0.31 to 13.45.
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