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• Dow post worst day since March, stocks fall as bond yields surge
  Major U.S. stock indexes closed sharply lower on Tuesday as a...
  Major U.S. stock indexes closed sharply lower on Tuesday as a surge in Treasury yields continued, pushing long-term benchmark rates to their highest level since the fall of 2007.
  
  The Dow Jones Industrial Average shed about 430 points, or 1.3%, ending near 33,003, according to preliminary FactSet data. That marked the blue-chip index's biggest daily drop since the March banking crisis, according to Dow Jones Market Data. It also erased the Dow's yearly gain, with the index now down 0.4% in 2023.
  
  Other equity gauges also skid Tuesday, with the S&P 500 index ending down 1.4% and the Nasdaq Composite Index closing 1.9% lower. Stocks have been under pressure from the continued climb in longer 10-year and 30-year Treasury yields since the Federal Reserve signaled rates could stay high through 2024 and beyond at its September meeting.
  
  The 10-year Treasury yield rose 11.9 basis points Tuesday to 4.801%, the highest since August 2007, while the 30-year Treasury yield gained 14.2 basis points to 4.936%, the highest since September 2007, according to Dow Jones Market Data.
  
  
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• EIA: US sets first-half record in petroleum product exports
  The US exported nearly 6 million barrels per day of petroleum...
  The US exported nearly 6 million barrels per day of petroleum products in the first six months of 2023, up 2% year over year to reach the highest first-half level on record, according to the Energy Information Administration. The surge was primarily fueled by a rise in propane and other hydrocarbon gas liquids exports, as exports of motor gasoline, distillate fuel, and other major petroleum products declined on an annual basis.
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• US refinery downtime to rise this fall amid maintenance
  The US is set to lose almost 2.5 million barrels per day of refining...
  The US is set to lose almost 2.5 million barrels per day of refining capacity between September and December, according to Energy Aspects data, an increase of 11% from the same time last year to mark the busiest fall maintenance season since before the coronavirus pandemic. Refinery maintenance activity could break records in the first quarter of 2024, fueled by a backlog of deferred work and routine turnarounds.
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• ☕️What Else is Brewing Tuesday Morning
  Historybook: American singer-songwriter Chubby Checker born (1941); Gwen Stefani born...
  Historybook: American singer-songwriter Chubby Checker born (1941); Gwen Stefani born (1969); East and West Germany are unified (1990); OJ Simpson acquitted of murdering ex-wife and her friend (1995); "Psycho" actress Janet Leigh dies (2004).
  
  World's oldest Scotch whisky heading to auction.
  
  Tesla misses expectations, delivering 435,059 vehicles in Q3 versus 466,140 in previous quarter and 343,830 in Q3 2022; company shares flat (More)
  
  The WHO approved a second malaria vaccine for children. It was developed by the University of Oxford and can be made cheaply and quickly—a big advance for combating the deadly disease.
  
  Birkenstock is targeting a $9.2 billion valuation in its upcoming IPO. Not bad for a sandal so grounded it brought Barbie to the real world.
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• Eastern Energy Acquires 100% of Conquest Completion Services
  Oilfield services provider Eastern Energy Services Inc....
  Oilfield services provider Eastern Energy Services Inc. will acquire 100% of the ownership interests of Conquest Completion Services LLC, the company announced in a press release late last week.
  
  Headquartered in Houston, Texas, Conquest is a provider of large-diameter coiled tubing units and oilfield chemicals used to advance reservoir performance. The acquisition supports Eastern’s completion, intervention, and production services in several basins, including the Haynesville Shale, Austin Chalk, Tuscaloosa Marine Shale, Louisiana, and conventional fields in Mississippi, Alabama, and Florida.
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