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A spokesperson from the SEC on Wednesday said the agency "is coordinating with appropriate law enforcement entities, including the SEC's Office of the Inspector General and the FBI" on its investigation of the incident.

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Wed, January 10, 2024 at 2:20 PM CST 

Ines Ferré 

## Oil prices fall amid inventory build of US crude and gasoline 

Oil futures 【134†fell on Wednesday】 after US crude oil inventories rose unexpectedly last week and gasoline stockpiles surged.

West Texas Intermediate (【135†CL=F】) ended the session down more than 1% to settle at $71.37 per barrel. Brent (【136†BZ=F】) futures closed more than 1% lower at $76.80 per barrel.

Futures fell after a surprise build of 1.34 million barrels of crude oil versus expectations for a draw, according to 【137†data†www.eia.gov】 released by the Energy Information Administration. Gasoline inventories rose by more than 8 million barrels versus estimates for gains of more than 2 million barrels.

Winter is a 【138†seasonally slow season】 for gasoline as snowstorms and cold weather impact driving habits. However, the surge in inventories appear to be outsized, equaling the largest two-week build since 2016.

"【139†Gasoline prices】 will come under pressure," Andy Lipow of Lipow Oil Associates told Yahoo Finance on Wednesday. "On the other hand, we are just starting with the refinery maintenance season which will reduce supply."

The national average for retail gasoline was at $3.08 per gallon on Wednesday, down from $3.28 a year ago, according to AAA data.

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Wed, January 10, 2024 at 1:42 PM CST 

Ines Ferré 

## SEC says FBI investigating fake bitcoin ETF post, says tweet was not drafted by SEC 

According to a spokesperson from the Securities and Exchange Commission (SEC) on Wednesday, the agency "is coordinating with appropriate law enforcement entities, including the SEC's Office of the Inspector General and the FBI" on its investigation of the 【128†fake post on X sent Tuesday】 that prompted chaos in crypto markets.

Tuesday's message suggested the SEC had approved trading in spot bitcoin ETFs, a 【130†decision most expect to come down later on Wednesday】.

The spokesperson added, "The unauthorized content on the @SECGov account was not drafted or created by the SEC," and said any news from the agency would first appear on its website.

The mishap 【130†has attracted new scrutiny】 to the SEC, which was forced late Tuesday to say that its government account on X, formerly known as Twitter, 【128†had been hacked】.

Ahead of Wednesday's expected decision, bitcoin was trading near $46,300.

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Wed, January 10, 2024 at 1:40 PM CST 

Ines Ferré 

## Alaska Air stock falls on cancelled Boeing Max 9 flights 

Alaska Air (【140†ALK】) stock hit a session low on Wednesday after the carrier cancelled all flights involving Boeing's (【141†BA】) 737 MAX 9 jets through Jan. 13.

Shares were down more than 1.5% following 【142†a statement†news.alaskaair.com】 in which the airline said it is still waiting for documentation from Boeing and the Federal Aviation Administration (FAA) to begin inspection of its 737-9 MAX fleet.

The FAA ordered a 【143†temporary grounding】 of the aircraft after a door "plug" flew off an Alaska Airlines plane in midair on Friday.

This week the FAA said Boeing's instructions to airlines on how to inspect the planes 【144†were inadequate.】

Alaska Airlines said the announced cancellations would equate to between 110 and 150 flights per day.

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Wed, January 10, 2024 at 1:00 PM CST 

Ines Ferré 

## Amazon stock higher amid layoff announcements at streaming and studio units 

Amazon (【145†AMZN】) shares were up more than 1% on Wednesday after the tech giant announced layoffs within its Prime Video and Studios units.

Mike Hopkins, senior vice president at Prime Video and Amazon MGM Studios, said in a memo to employees 【146†reviewed by Reuters】 that company had "identified opportunities to reduce or discontinue investments in certain areas while increasing our investment and focus on content and product initiatives that deliver the most impact."

Meanwhile job cuts at Twitch, Amazon’s video game streaming service, 【147†were announced via a blog post†blog.twitch.tv】 on Wednesday.

"As you all know, we have worked hard over the last year to run our business as sustainably as possible," wrote Twitch chief executive officer Dan Clancy.

"Unfortunately, we still have work to do to rightsize our company and I regret having to share that we are taking the painful step to reduce our headcount by just over 500 people at Twitch."

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Wed, January 10, 2024 at 12:15 PM CST 

Ines Ferré 

## Oil prices erase gains after surprise US inventory build 

Oil prices 【148†erased earlier gains】 on Wednesday after a surprise US crude inventory build.

West Texas Intermediate (【135†CL=F】) fell more than 1% while Brent (【136†BZ=F】) futures declined by roughly the same amount to trade below $77 per barrel.

The downward action came after the latest Energy Information Administration data showed a surprise crude build of 1.34 million barrels last week, versus expectations for a decrease in stockpiles. Gasoline inventories also rose to their highest level in a year.

"I have always been in the camp that fuel supplies eventually set crude prices and with the latest builds in fuel supplies the upside in crude is limited, unless of course we see further tensions in the Middle East," Dennis Kissler, senior vice president at BOK Financial, said on Wednesday.

Earlier in the session futures gained more than 1% amid 【149†escalating attacks】 by Houthi rebels in the Red Sea.

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Wed, January 10, 2024 at 11:40 AM CST

Josh Schafer 

## Big Tech leading stock action in midday trade 

Stocks were in the green around 12:30 p.m. ET on Wednesday.

The Dow Jones Industrial Average (【117†^DJI】) popped about 0.1% while the benchmark S&P 500 (【118†^GSPC】) was up about 0.2%. The Nasdaq Composite (【119†^IXIC】) rose about 0.4%.

Big Tech led the charge on Wednesday with the majority of the Magnificent Seven stocks well into positive territory.

Microsoft (【150†MSFT】), Amazon (【145†AMZN】), Meta (【121†META】), and Nvidia (【120†NVDA】) were all up more t

Stock market news today: Tech leads stocks higher ahead of key inflation print

Stock Market Update: Jan.10

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