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• Middle East Fighting Sent Crude Oil Prices up Again on Wednesday
  Crude oil, which had been one of the few beneficiaries of the fighting...
  Crude oil, which had been one of the few beneficiaries of the fighting in the Middle East, gave up some gains of previous sessions after a Wall Street Journal report suggested OPEC members weren't adhering to production targets. According to the report, a Saudi official warned that oil could fall to $50 per barrel if targets weren't respected. WTI Crude Oil futures (/CL) fell from around $72 per barrel early in the session to near $70, and the S&P 500 Energy Sector pulled back from morning highs. 
  

  In the U.S., West Texas Intermediate crude rose 27 cents, or 0.39%, to close Wednesday at $70.10 a barrel on the New York Mercantile Exchange.

  
  

  
  

  Brent, the global benchmark, gained 34 cents or 0.46% to settle at $73.90 a barrel.
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• U.S. stocks end slightly higher after choppy trading as inflation worries return
  Stock markets found some...

  Stock markets found some stability Wednesday following Tuesday's sell-off triggered by Middle East conflicts and U.S. port strikes, though individual stocks like Tesla and Nike faced pressure from company-specific news. The market's attention is now shifting to Friday's nonfarm payrolls report, a crucial economic indicator that could influence the Federal Reserve's upcoming monetary policy decisions. Analysts expect 140,000 new jobs in September.

  
  

  Wednesday's ADP National Employment Report offered a preview, showing private-sector hiring exceeded expectations with 143,000 new jobs in September, primarily in services. While this report indicated a "widespread rebound" in hiring according to ADP's chief economist, with slowing wage growth for both job-stayers and job-changers, investors remain more focused on the official government payrolls data. As noted by Cooper Howard from Schwab, the upcoming jobs report could significantly impact market expectations for future Fed rate decisions, with potential implications for short-term yields.

  
  Here's where the major benchmarks ended:
  

  
  
  • The S&P 500^® index (SPX) was little changed at 5,709.54; the Dow Jones Industrial Average ($DJI) rose 39.55 points (0.09%) to 42,196.52; the Nasdaq Composite^® ($COMP) gained 14.76 points (0.08%) to 17,925.12.
  
  
  • The 10-year Treasury note yield (TNX) added 5 basis points to 3.78%. 
  
  
  • The Cboe Volatility Index^® (VIX) edged 0.4 points lower to 18.86.
  
  
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• Tailwater Buys Interests Across 5,000 Acres in Permian Core
  Tailwater Capital LLC said Oct. 1 it has acquired non-operated working...
  Tailwater Capital LLC said Oct. 1 it has acquired non-operated working interests in 5,000 net acres in the “core” of the Midland and Delaware basins.
  
  Tailwater made the off-market acquisition from Accelerate Resources Operating LLC for its upstream platform, Tailwater E&P LLC. Financial terms of the transaction were undisclosed.
  
  The acquired assets include more than 5,000 net leasehold acres in the Permian Basin’s Midland and Delaware plays. The assets, predominantly HBP, currently produce more than 5,000 net boe/d.
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• Dorchester Minerals Closes M&A in Midland, Delaware, D-J
  Dorchester Minerals LP closed two acquisitions of mineral and royalty...
  Dorchester Minerals LP closed two acquisitions of mineral and royalty interests in the Permian and Denver-Julesburg (D-J) basins.
  
  Both transactions were structured as non-taxable contributions and exchanges.
  
  The first transaction included mineral, royalty, and overriding royalty interests totaling 14,529 acres across 14 counties in New Mexico and West Texas. Approximately 65% of the acreage is in the Permian’s Delaware Basin, with the remaining 35% located in the Midland Basin.
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• ☕️What Else is Brewing Wednesday Morning
  Iran launched around 180 ballistic missiles into Israel yesterday,...
  Iran launched around 180 ballistic missiles into Israel yesterday, killing one West Bank Palestinian and wounding two Israelis, in what Iran called retaliation for assassinations of leaders of allied proxy groups Hezbollah and Hamas. Israel’s defense system, supported by the US Navy, intercepted most missiles. See videos here.
  
  Microsoft overhauled its Copilot AI assistant, adding voice and vision capabilities to make it more personalized.
  
  LVMH, the largest Champagne producer in the world, bought a stake in a company that makes nonalcoholic sparkling wine to capitalize on the boozeless trend.
  
  Fortnite now allows parents to set time limits for their kids, in case you want them to hate you.
  
  CNN put up a digital paywall, charging $3.99 a month for unlimited access to its website as part of a strategic shift toward becoming “a more consumer-oriented digital product company.”
  
  Tom Brady is putting his watch collection, valued at as much as $6 million, up for auction at Sotheby’s.
  
  Rosh Hashanah, the Jewish New Year, begins tonight and ends on Friday. Shana Tova to those celebrating.
  
  
  
   
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