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• ☕️What Else is Brewing Friday Morning
  Steve Mnuchin wants to buy TikTok. Former Treasury...
  Steve Mnuchin wants to buy TikTok. Former Treasury Secretary Steven Mnuchin told CNBC that he’s assembling the Avengers putting together a team of investors to acquire TikTok, just a day after the House passed a bill that would ban the app if its Chinese owner ByteDance doesn’t divest. Mnuchin, who headed up the Treasury Department under Donald Trump from 2017 to 2021, now runs the investment fund Liberty Strategic Capital. He did not specify who else might be part of his financial supersquad. Experts believe China is likely to block any sale of TikTok to a US company.
  
  President Biden came out against the planned sale of US Steel to Japan’s Nippon Steel, saying it’s “vital for it to remain an American steel company that is domestically owned and operated.”
  
  Retail sales rose 0.6% last month, rebounding from a 1.1% drop in January.
  
  Outdoor Voices is reportedly closing all of its stores this week as the athleisure company transitions to an exclusively online business.
  
  Under Armour announced that founder Kevin Plank is returning to the company as CEO, sending shares plummeting.
  
  Amazon is hosting its first “Big Spring Sale,” which is open to all shoppers (not just Prime members), from March 20 to March 25.
  
  Aaron Rodgers denied a CNN report that he floated conspiracy theories about the 2012 Sandy Hook massacre.
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• Closing Oil & Gas Prices
  Benchmark U.S. crude oil...
  
  
  Benchmark U.S. crude oil for April delivery rose $1.54 to $81.26 per barrel Thursday. Brent crude for May delivery rose $1.39 to $85.42 per barrel.
  
  

  
  

  
  
  Wholesale gasoline for April delivery rose 4 cents to $2.70 a gallon. April heating oil rose 2 cents to $2.71 a gallon. April natural gas rose 8 cents to $1.74 per 1,000 cubic feet.
  
  
  
  
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• Dow ends below 39,000 as U.S. stocks fall after hot inflation reading
  Stocks ended lower Thursday, slipping after a hotter-than-expected February...
  Stocks ended lower Thursday, slipping after a hotter-than-expected February producer-price index raised doubts about the Federal Reserve's ability to deliver a series of rate cuts in 2024.
  
  Stocks trimmed their decline ahead of the closing bell but still finished in the red. Major indexes remained on track for small, weekly gains ahead of Friday's session.
  
  The Dow Jones Industrial Average fell 137.66 points, or 0.4%, to close at 38,905.66.
  
  The S&P 500 shed 14.83 points, or 0.3%, to end at 5,150.48.
  
  The Nasdaq Composite finished at 16,128.53, a decline of 49.24 points, or 0.3%.
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• US midstream firms bet big on gas infrastructure
  Despite the downturn in natural gas prices and surplus storage levels,...
  Despite the downturn in natural gas prices and surplus storage levels, US midstream companies have allocated more than $10 billion to upgrade and expand their gas infrastructure this year, according to East Daley Analytics. Analysts say the investments reflect the industry's confidence in long-term demand for gas infrastructure, driven by the ongoing expansion of the liquefied natural gas export market.
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• EIA sees higher oil output, lower gas production in 2024
  US crude oil production will increase by 260,000 barrels per day to 13.19...
  US crude oil production will increase by 260,000 barrels per day to 13.19 million barrels per day in 2024, while 2025 oil output will hit a record 13.65 million bpd, the Energy Information Administration predicted in its latest Short-Term Energy Outlook. Additionally, the agency revised downward its projections for natural gas production, expecting it to decrease to 103.35 Bcf/d in 2024 before rebounding to 104.43 Bcf/d in 2025.
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