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• ☕️What Else is Brewing Wednesday Morning
  Pfizer exempt from Trump’s tariffs, agrees to lower drug prices. President...
  Pfizer exempt from Trump’s tariffs, agrees to lower drug prices. President Trump announced an arrangement with Pfizer yesterday in which the drugmaker will lower prices on some drugs in the US and invest $70 billion in domestic drug manufacturing. As part of the deal, Pfizer will earn a three-year reprieve from Trump’s tariffs on the pharmaceutical industry. The company will sell the discounted medications on a direct-to-consumer website called TrumpRx. The president posted on social media last week that he plans to impose a 100% tariff on pharma companies starting today, unless they build manufacturing plants in the US. Pfizer’s stock climbed ~7% after news of the deal.
  
  President Trump told top military officials that US troops should use American cities as “training grounds,” while Defense Secretary Pete Hegseth vowed to end what he called the military’s “woke” culture.
  
  Boeing is developing a new single-aisle airplane that would replace the troubled 737 Max, the Wall Street Journal reported.
  
  Nike beat Wall Street’s quarterly sales expectations as new CEO Elliott Hill tries to lead the shoe giant’s turnaround.
  
  OpenAI launched a social app that allows users to share AI-generated videos in a TikTok-like feed.
  
  The Energy Department is telling employees to stop using the words “climate change,” “green,” and “sustainable,” according to NPR.
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• DAILY OIL PRICE: September 30, 2025
  Crude Oil: 62.37   (-1.08)....
  
  
  • Crude Oil: 62.37   (-1.08).
  
  
  • Nymex MTD AVG: 63.4713.
  
  
  • Natural Gas: 3.303   (+0.036).
  
  
  • Gasoline: 1.9729   (-0.0222).
  
  
  • Spreads: November/December (+0.41)     December/January (+0.28).
  
  
  • Plains WTI Posting: 58.85   (-1.08).
  
  

  
  Source: Odessa American
  
  
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• Dow closes at new record as U.S. stocks gain despite looming government shutdown
  U.S. stocks finished modestly higher on Tuesday to close...

  U.S. stocks finished modestly higher on Tuesday to close out an unusually strong September in light of the Federal Reserve's first interest-rate cut in nine months and a fresh wave of artificial-intelligence frenzy.

  
  

  The Dow Jones Industrial Average rose 0.2% to end near 46,397 — booking a new record-high close and surpassing its previous closing high from Sept. 22. For the month, the blue-chip index was up 1.9%, according to preliminary data from FactSet.

  
  

  The S&P 500 was up over 0.4%, ending at around 6,688. The large-cap benchmark index gained 3.5% this month, its best September in 15 years, according to Dow Jones Market Data.

  
  

  The Nasdaq Composite popped 0.3%, to finish at around 22,660. The tech-heavy index advanced 5.6% in September.

  
  

  The gains came despite Washington being hours away from another government shutdown, with Democrats and Republicans still far apart on a deal to avert a shutdown.

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• U.S. consumer confidence falls to lowest level since April
  Consumer confidence fell sharply in September on growing...

  Consumer confidence fell sharply in September on growing worries about the labor market.

  
  

  The consumer-confidence index dropped to 94.2 in September from a revised 97.8 in the prior month, the Conference Board said Tuesday. This is the lowest level since April.

  
  

  Economists polled by the Wall Street Journal had forecast the index to slip to 96.0 in September from the initial estimate of 97.4 in August.

  
  

  Consumers’ assessment of the availability of jobs fell for the ninth straight month.

  
  

  Key details: A measure that assesses consumers' current economic sentiment dropped 7 points to 125.4. That’s the most significant drop in a year.

  
  

  A confidence gauge that looks six months ahead dropped by 1.3 points to 73.4. Since February, the expectations index has been below the threshold of 80, which has traditionally been seen as a signal of recession.

  
  

  Economists focus on labor-market conditions by measuring the spread between the percentage of consumers who think jobs are plentiful and the percentage who think jobs are hard to get.

  
  

  That spread, known as the labor-market differential, has narrowed for nine consecutive months and is now at a multi-year low of 7.8.

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• Canadian Natural Gas Prices Sink Into Record Negative Territory
  Canadian natural gas prices took a...

  Canadian natural gas prices took a beating in the last week of September, as prices fell into negative territory at record-low levels.

  
  

  Canada’s natural gas benchmark, AECO, closed in negative territory for seven days in a row from Sept. 11 to Sept. 28. The price remained at about negative CA$0.80/gigajoule (US$0.57) after the market closed Sept. 26.

  
  

  E&Ps had increased production and rapidly filled the available natural gas storage. Now they are lowering production.

  
  

  Domestically, warmer-than-usual weather in Canada has led to reduced seasonal demand for natural gas for heating and power generation. At the same time, maintenance projects have restricted the flow of gas out of Alberta, according to a report published by Jefferies analysts on September 25.

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