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• ☕️What Else is Brewing Friday Morning
  NOAA warned this hurricane season could be historically bad. The...
  NOAA warned this hurricane season could be historically bad. The National Oceanic and Atmospheric Administration forecast 17 to 25 named tropical storms this upcoming season, the most it has ever predicted in its May outlook. Of those storms, eight to 13 are expected to become hurricanes, with four to seven likely to be Category 3 or higher—about double the usual number. Scientists believe warming temperatures are increasingly leading to more storms and helping to intensify the ones that form. The NOAA will provide an updated forecast in August.
  
  Spot Ethereum ETFs were approved by the SEC in another big win for crypto, following the approval of spot bitcoin ETFs earlier this year.
  
  The bipartisan border security bill failed in the Senate yesterday for the second time, due to Republican opposition and divisions in the Democratic party.
  
  Louisville police released video of the arrest of golf star Scottie Scheffler that appears to undermine the arresting officer’s claim that he was dragged to the ground by Scheffler’s car.
  
  Oreo-maker Mondelez was fined $366 million by the EU for rigging the European chocolate market.
  
  X announced it will hide likes on the platform to encourage users to like “edgy” content without fear of retaliation.
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• Closing Oil & Gas Prices
  Benchmark U.S. crude oil for July delivery ...
  Benchmark U.S. crude oil for July delivery fell 70 cents to $76.87 per barrel Thursday. Brent crude for July delivery fell 54 cents to $81.36 per barrel.
  
  Wholesale gasoline for June delivery was flat at $2.47 a gallon. June heating oil fell 2 cents to $2.41 a gallon. June natural gas fell 19 cents to $2.66 per 1,000 cubic feet.
  
  
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• Dow ends more than 600 points lower as Boeing shares nosedive
  U.S. stocks slumped lower Thursday, with the Dow bearing the brunt of the selloff as tumbling shares...
  U.S. stocks slumped lower Thursday, with the Dow bearing the brunt of the selloff as tumbling shares of Boeing Co. weighed on the blue-chip index.
  
  The Dow Jones Industrial Average fell about 605 points, or 1.5%, for its worst daily percentage drop since April 30, according to Dow Jones Market Data.
  
  The S&P 500 shed about 39 points, or 0.7%, closing near 5,267.
  
  The Nasdaq Composite lost about 65 points, or 0.4%, closing near 16,736.
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• U.S. first-time unemployment claims fall again as labor market powers economy
  The numbers: The number of Americans who applied for...
  The numbers: The number of Americans who applied for unemployment benefits last week fell again to 215,000, reaffirming that layoffs are low and the economy is being buoyed by a strong labor market.
  
  Initial jobless claims have hovered between 194,000 and 232,000 this year, a remarkably low level last achieved consistently in the 1960s.
  
  Economists polled by the Wall Street Journal had forecast new claims to total 220,000 in the seven days ending May 18, based on seasonally adjusted figures.
  
  Key details: New jobless claims fell in 33 of the 53 states and territories that report these figures to the federal government. Claims rose in 21 others, but all the increases were small.
  
  Omitting seasonal adjustments, actual new claims declined slightly to 192,017 and tacked below 200,000 for the eighth time this year. That’s an exceedingly low level.
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• Turkey Emerges as the Largest Coal-Fired Electricity Producer in Europe
  Turkey has emerged as the largest coal-fired electricity producer in...
  Turkey has emerged as the largest coal-fired electricity producer in Europe as major EU economies have continued to shut down coal power plants and boost renewable energy generation.    
  
  In the first four months of this year, Turkey was the top coal power producer in Europe, overtaking Germany, according to data from energy think tank Ember cited by Reuters columnist Gavin Maguire.
  
  Coal’s share in Turkey’s total power generation hit a record high of 36% last year, compared to a 12% share in the European Union. Turkey is dependent on coal imports from Russia—with which Ankara has kept friendly diplomatic and trade relations after the Russian invasion of Ukraine—and Russian coal imports held a 73% share in Turkey’s electricity generation, according to Ember’s data.
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