The oil rally is just getting started

• Retail theft rampage: Nine Target (TGT) locations are scheduled to close in major American cities like NYC, Seattle, SF, and Portland due to safety concerns over theft, violence, and organized retail crime (CNBC)
  

• Meta's Quest: headsets, glasses, AI boost: Meta (META) announced the release of its Quest 3 headset ($499), new Ray-Ban smart glasses ($299), and AI assistants for its apps, aiming to boost its metaverse initiative which has seen limited returns despite billions invested (WSJ)
  

• Oil trucking bid fails: ExxonMobil (XOM) has lost a court bid to truck millions of gallons of crude oil through central California — a crucial part of its efforts to restart offshore oil wells that were shut in 2015 after a pipeline leak caused the worst coastal spill in 25 years (AP)
  

• Prepaid powerplay: Walmart (WMT) is expanding its offerings of prepaid phone plans with MobileX, a wireless service launched earlier this year by Boost cofounder Peter Adderton; Walmart will be MobileX’s first and exclusive retail partner (Fierce Wireless)
  

• Not this Era: The markets biggest loser yesterday was renewable energy company NextEra Energy Partners (NEP), after the company revised its growth expectations for the next few years (Yahoo)
  

• Back in Action! More than 11,500 Hollywood writers are now eligible to return to work —which should jump-start production of most live talk shows in the coming days and weeks (AP)
  

• Biden teases executive order on AI: The White House plans to introduce a highly anticipated executive order in the coming weeks dealing with AI (CNN)
  

• Peloton & Lululemon are joining forces: The two companies announced a 5-year partnership that will bring Peloton’s (PTON) content to Lululemon’s (LULU) exercise app. Lululemon, in turn, will become Peloton’s primary athletic apparel partner; Peloton shares surge 30% (CNBC)
  

• China property giant halted: China Evergrande Group suspended trading in Hong Kong, a day after the property giant’s founder had been taken away by police (Bloomberg)

• Get your gold bars… at Costco? (CNBC)

• SEC chair Gary Gensler gets grilled by Congress to approve a bitcoin ETF (CoinSnacks)

• Corporate America promised to hire a lot more people of color.

  It actually did (Bloomberg)

• The U.S. Latino economy has grown 2.5x faster than the non-Latino economy over the last decade (LDC)

• Jony Ive and OpenAI’s Altman reportedly collaborating on mysterious AI device (Ars Technica)

• Thousands of Las Vegas hospitality workers vote to authorize strike (BLH)

• Florida has high speed rail and California never will (Pirate Wires)

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