Swimming in gas 🛢 — The European gas situation is improving. Canopy is buying US cannabis companies. And Microsoft and Alphabet are showing how soft tech markets are.

Remember when Europe faced those “unprecedented risks” to its natural gas supply earlier this month? That was then. Now, the continent is basically swimming in it.

Canadian pot grower Canopy (+23.5%) has purchased three pot companies south of the border (Acreage, Wanna, and Jetty’s) to form a brand new American business arm.

Tech giants Microsoft and Alphabet are kicking off a week packed with earnings, during which investors are sitting tight for indicators about the state of the broader economy.

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The Peak Daily is produced by 306 Media Productions. Hosted by Brett Chang and Jay Rosenthal.