GET DAILY REPORT FREE
In retreat: The S&P 500 retreated from near-record highs on Monday, Reuters reports, with AI heavyweight Nvidia dipping ahead of its quarterly report this week. Meanwhile, investors are awaiting inflation data for clues about the path of interest-rate cuts by the Federal Reserve. Nvidia dropped 2.6% ahead of its report on Wednesday in what is set to be the U.S. stock market’s most closely watched event of the week. Some worry that anything short of a stellar forecast from Nvidia could shatter Wall Street’s rally in AI-related companies, including Microsoft, Alphabet and Meta Platforms. Reuters has the full story.
Zydeco maintenance: Flows of light crude to Louisiana via Shell’s Zydeco pipeline will be limited for three to four days beginning September 24, Reuters reports. The company plans to shut-in different portions of its system for maintenance. The Zydeco pipeline system spans more than 350 miles and has a mainline capacity of about 375,000 barrels per day. It has four segments and ships crude oil from Houston to St. James, Louisiana.
Game on: Where will New Orleans Pelicans fans watch local games in the upcoming NBA season? As CNBC reports, both the Pelicans and the Dallas Mavericks are exiting their regional sports networks owned by Diamond Sports, according to a Friday bankruptcy court filing. The Pelicans have reached an agreement in principle with Gray Television, owner of local affiliate WAFB-TV, to air games this season, a person close to the team told CNBC, but representatives for Gray and the Pelicans declined to comment on the matter.
