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• The State of The Union Address
  The U.S. Constitution spells it out clearly in Article II, Section 3:...
  The U.S. Constitution spells it out clearly in Article II, Section 3: The president “shall from time to time give to the Congress information of the state of the union, and recommend to their consideration such measures as he shall judge necessary and expedient.”
  
  Last night, President Joe Biden delivered the State of the Union address; key moments include plans to create a temporary port in Gaza for aid delivery and man escorted out for heckling (More) | Alabama Sen. Katie Britt (R) provides rebuttal; see highlights (More) | Centrist No Labels group expected today to vote to plan a third-party presidential bid; no candidates revealed as of yet (More)
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• ☕️What Else is Brewing Friday Morning
  Markets: Thank you, Jerome. ...
  Markets: Thank you, Jerome. Stocks surged yesterday, once again pushing the S&P 500 and Nasdaq to record highs, after Fed Chair Jerome Powell said he expects interest rates to come down this year. Now, investors await today’s big jobs report to see if the good times can keep rolling. It was also a big day for Rivian, which zoomed 13% after it revealed three new vehicles.
  
  Novo Nordisk said its new weight loss drug could be even more effective than Wegovy.
  
  Sailor Cole Brauer became the first American woman to race solo around the world.
  
  Applebee’s and IHOP are launching co-branded locations, because the combination Pizza Hut–Taco Bells were not enough.
  
  Amazon is reportedly halting the launch of online storefronts in Switzerland, Ireland, and other countries in an effort to rein in costs.
  
  TikTok users inundated the offices of House GOP members with phone calls over concerns that they could soon ban the app.
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• Closing Market Update
  (Thursday market close) AI- and semiconductor-driven...
  (Thursday market close) AI- and semiconductor-driven momentum continued to buoy Wall Street Thursday, fueling a broad market rally that lifted the S&P 500^® index (SPX) to its 16^th record high close of the year. The Nasdaq Composite^® (COMP) also hit a record high one day ahead of the Labor Department's monthly Nonfarm Payrolls Report.
  
  Ongoing optimism over receding inflation and expectations for Federal Reserve interest rate cuts also underpinned stock prices, even as the central bank's leader, Jerome Powell, sounded a cautious note in Congressional testimony this week. Friday's February payrolls report looms as the next major key to market direction.
  
  "All eyes are on Friday's payrolls report," said Cooper Howard, director of fixed income strategy at the Schwab Center for Financial Research. Analysts estimate payrolls grew about 200,000 during February, which would be down from January's stronger-than-expected 353,000 surge but still considered a solid performance.   Here's where the major benchmarks ended:
  
  The S&P 500 index rallied 52.60 points (1.0%) to 5,157.36; the Dow Jones Industrial Average gained 130.30 points (0.3%) to 38,791.35; the Nasdaq Composite climbed 241.83 points (1.5%) to 16,273.38.
  
  The 10-year Treasury note yield (TNX) lost almost 2 basis points to 4.085%.
  
  The Cboe Volatility Index^® (VIX) fell 0.06 to 14.44.
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• Closing Oil & Gas Prices
  Benchmark U.S. crude oil for April delivery ...
  Benchmark U.S. crude oil for April delivery fell 20 cents to $78.93 per barrel Thursday. Brent crude for May delivery was unchanged at $82.96 per barrel.
  
  Wholesale gasoline for April delivery was unchanged at $2.55 a gallon. April heating oil rose 3 cents to $2.69 a gallon. April natural gas fell 11 cents to $1.82 per 1,000 cubic feet.
  
  
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• Government Shutdown Saga Continues
  Friday brings another deadline in the government shutdown saga. Progress...
  Friday brings another deadline in the government shutdown saga. Progress arrived Wednesday when the House passed the first tranche of six bills and the Senate is likely to do so today. Odds for a shutdown could grow later this month near a second deadline of March 22.
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