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• Nasdaq exits correction territory, small caps see best day in more than a year
  U.S. stocks closed sharply higher on Tuesday with the Nasdaq...
  U.S. stocks closed sharply higher on Tuesday with the Nasdaq Composite notching its biggest daily percentage-point gain since April following a subdued inflation print that bolstered hopes for Federal Reserve rate cuts. The S&P 500 SPX gained 84.15 points, or 1.9%, to 4,495.70 points. The Nasdaq Composite COMP gained 326.64 points, or 2.4%, to 14,094.38, closing outside of correction territory after entering it roughly three weeks ago. The Dow Jones Industrial Average DJIA gained 489.83 points, or 1.4%, to 34,827.70. Meanwhile, the Russell 2000 RUT an index of small-cap stocks, rose 91.25 points, or 5.3%, to 1,796.70, its biggest daily advance since November 2022.
  
  
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• Energy Sector Commentary
  The energy sector is off to a higher start, supported by strength...
  The energy sector is off to a higher start, supported by strength in the crude complex and in the major equity futures which surged higher as investors cheered the latest U.S. consumer price index report which came in lower than analysts expected. The 10-year Treasury yield also tumbled below 4.5% following the soft inflation report.
  
  WTI and Brent crude oil futures extended their trend higher for the fourth-straight session, backed by this morning’s CPI data, weakness in the dollar, and another bullish supply report.
  
  After snapping a five-day losing streak in the prior session, natural gas futures resumed their slide lower this morning and are off ~0.75% in early trading, pressured by updated weather forecasts and lingering production concerns.  
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• OPEC brushes off oil market pessimism
  OPEC maintains a positive outlook on the oil market despite the recent price slump, which it attributed...
  OPEC maintains a positive outlook on the oil market despite the recent price slump, which it attributed to the "exaggerated negative sentiments" of financial market speculators. The group revised its oil demand growth forecast for 2023 to 2.46 million barrels per day and kept its 2024 oil demand growth forecast unchanged at 2.25 million bpd.
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• US projects fuel N. American LNG export capacity growth
  Development of 10 new projects in the US, Canada, and Mexico...
  Development of 10 new projects in the US, Canada, and Mexico will boost North America's liquefied natural gas export capacity from 11.4 Bcf/d now to 24.3 Bcf/d by the end of 2027, according to an Energy Information Administration analysis. Five US projects, including Golden Pass, Rio Grande, and Plaquemines, will lead the expansion, contributing a collective 9.7 Bcf/d to the continent's LNG export capacity.
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• EIA: US shale oil, gas output to continue downtrend in Dec.
  The Energy Information Administration expects US oil production from major shale formations to decline...
  The Energy Information Administration expects US oil production from major shale formations to decline for a second consecutive month to 9.652 million barrels per day in December, as Permian Basin growth will be insufficient to offset losses elsewhere. Similarly, shale gas production is projected to fall for a fourth consecutive month in December, by about 0.3 Bcf/d to 99.6 Bcf/d.
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