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• Energy Sector Commentary
  The energy sector is off to a...

  The energy sector is off to a broadly higher start, supported by strength in the underlying commodities and in the major equity futures. U.S. stock index futures are set to open higher after data showed the PCE price index, considered to be the Fed's preferred inflation gauge, climbed 3.3% in July on an annual basis in line with estimates of a 3.3% rise. Meanwhile, the core PCE price index rose 4.2% in July on an annual basis, also meeting expectations.

  
  

  WTI and Brent crude oil futures are trading higher for the sixth-straight session boosted by a large drawdown in U.S. crude inventories and production cuts by OPEC+, but a slowdown in China's manufacturing activity limited gains. China's manufacturing activity shrank again in August as the official PMI rose to 49.7 from 49.3 in July, but still remained below the 50-point level.

  
  

  Natural gas futures are moving higher for the second-consecutive session as the NOAA's 6-10 day outlook shows above-normal temps from the eastern Rockies to the East Coast, and extending into the Four Corners region.

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• Europe's plan to wean itself off Russian fossil fuels by 2027 has a major flaw
  The EU wants to wean itself off Russian fossil fuels by 2027 and has cut its use of piped Russian gas...
  The EU wants to wean itself off Russian fossil fuels by 2027 and has cut its use of piped Russian gas dramatically.
  
  Even so, EU countries imported a record amount of Russian LNG this year, per Global Witness.
  
  EU countries are snapping up Russian LNG to replace piped natural gas from the country.
  
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• Farmers' Almanac just dropped its winter 2023 predictions
  The Farmer's Almanac just released its weather predictions for winter 2023-2024, and you better...
  The Farmer's Almanac just released its weather predictions for winter 2023-2024, and you better get out our heaviest winter coats.
  
  Great news for lovers of snow and all things winter - and not so good for the other half of that lot. Here's what the Farmer's Almanac had to say about this upcoming winter - and if last year's Farmer's Almanac report taught us anything, it's that they're pretty darn accurate.
  
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• Market Outlook
  The S&P 500 futures are up 13 points and are trading 0.3%...
  The S&P 500 futures are up 13 points and are trading 0.3% above fair value. The Nasdaq 100 futures are up 24 points and are trading 0.2% above fair value. The Dow Jones Industrial Average futures are up 185 points and are trading 0.5% above fair value. 
  
  Personal income rose 0.2% in July (Briefing.com consensus 0.3%) following a 0.3% incline in June. Personal spending rose 0.8% in July (Briefing.com consensus 0.7%) following a revised 0.6% incline in June (from 0.5%).
  
  The PCE Price Index increased 0.2% in July (Briefing.com consensus 0.2%) following a 0.2% increase in June. The core-PCE Price Index, which excludes food and energy, increased 0.2% in July (Briefing.com consensus 0.2%) following a 0.2% increase in June.
  
  Weekly initial jobless claims totaled 228,000 (Briefing.com consensus 235,000) following last week's revised count of 232,000 (from 230,000). Continuing claims came in at 1.725 million following last week's revised total of 1.697 million (from 1.702 million).
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• Other News For Thursday Morning
  > College football season kicks off in earnest tonight; see previews...

  > College football season kicks off in earnest tonight; see previews for key Week 1 matchups (More) | Saudi Arabia's Public Investment Fund purchases $100M stake in Professional Fighters League (More)

  
  

  > CNN taps former BBC and New York Times executive Mark Thompson as its new chairman and CEO (More)

  
  

  > Team USA among 16 teams to advance to the second round of men's Basketball World Cup (More) | Spanish soccer chief Luis Rubiales' mother now hospitalized following hunger strike protesting his suspension (More)

  
  

  > Researchers show implantable bioreactor can keep kidney cells alive for at least one week, a breakthrough in the effort to find alternatives to dialysis for patients with kidney failure (More)

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