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• The House passed a funding bill to avert a government shutdown
   More than two-thirds of the House ...
   More than two-thirds of the House voted in support of new Speaker Mike Johnson’s unique two-step plan to fund the government for the next few months. Johnson needed Democrats’ help since the GOP’s right-wing Freedom Caucus—which helped orchestrate the ouster of previous Speaker Kevin McCarthy—came out against the bill for not including spending cuts. Luckily, Dems gave their okay for that exact reason. It’s not a done deal yet: The short-term funding bill now heads to the Senate, where it must pass by Friday to prevent a shutdown. Senate leaders in both parties have said they’ll support it.
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• ☕️What Else is Brewing Wednesday Morning
  Historybook: ...
  Historybook: Articles of Confederation is adopted by Continental Congress (1777); Artist Georgia O’Keeffe born (1887); "Macho Man" Randy Savage born (1952); Two million people protest Vietnam War across the US (1969); Famed anthropologist Margaret Mead dies (1978).
  
  Israel said it carried out a “targeted operation” at Shifa, Gaza’s largest hospital, where its leadership and US intelligence accuse Hamas of operating from. In recent days, doctors at Shifa have warned that patients are dying as a humanitarian crisis unfolds within the hospital.
  
  ByteDance revenue grew to $29 billion in the second quarter, putting the Chinese owner of TikTok within striking distance of Meta.
  
  Rolex and Patek Philippe prices fell to two-year lows amid waning demand for expensive watches.
  
  SpaceX will receive clearance this week to launch its Starship rocket, CEO Elon Musk said.
  
  YouTube announced it will begin cracking down on AI-generated deepfakes of musicians.
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• Closing Oil and Gas Prices
  Benchmark U.S. crude oil for December delivery...
  Benchmark U.S. crude oil for December delivery was unchanged at $78.26 per barrel Tuesday. Brent crude for January delivery fell 5 cents to $82.47 per barrel.
  
  Wholesale gasoline for December delivery fell 2 cents to $2.22 a gallon. December heating oil was unchanged at $2.84 a gallon. December natural gas fell 9 cents to $3.11 per 1,000 cubic feet.
  
  
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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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