why does this make sense for chevron? it is a pretty big price tag. chevron?tty big price tau. ., ., chevron? it is a pretty big price ta. _ ., ., , chevron? it is a pretty big price tau. ., ., , ., , tag. you are right, it is a big rice tag. you are right, it is a big price tag _ tag. you are right, it is a big price tag and _ tag. you are right, it is a big price tag and what _ tag. you are right, it is a big price tag and what is - tag. you are right, it is a big price tag and what is wild . tag. you are right, it is a big price tag and what is wild is| tag. you are right, it is a big - price tag and what is wild is that this isn't even the biggest energy deal we have seen this year. it isn't even the biggest energy deal we have seen this month. but at $53 billion it is huge. here is what is in it for chevron. as you mentioned, increase access to oil fields and assets in guyana, the south american nation is emerging as one of the newest oil producers in the world, and as you can imagine there is fierce competition to get a foothold there. it also increases

chevron is buying hess.e're going to have the ceos of both companies joining us here at post nine momentarily. >>> and one of apple's largest suppliers, foxconn, reportedly being investigated by authorities in china. they are said to be conducting tax audit inspections and revving land use of foxconn subsidiaries. that is pressuring sales of apple a bit as we get started with trading 29 minutes from now. >>> carl? actually, i'm going to send it to myself. thank you, carl. we do start not with the markets itself but with that major deal in the energy sector. chevron agreeing to acquire hess. it's an all stock transaction, valued at $171 a share before before we see chevron trade this morning. the ratio, 1.025 shares of chevron and again we're going to be speaking to both the gentlemen behind that deal very shortly. jim, it follows, of course, exxon and pioneer. i am told, however, these two were talking long before that. at least they have been having conversations. my understanding is they date back a long t

chevron down 2.9%. this deal comes just weeks after exxonmobil made its move to buy pioneer natural resources. both stocks on the move. hess ceo john hess will join chevron's board. i just got off the phone with mike wirth. very low primemium on this. this goes back long before the rumors came out about exxonmobil and pioneer. that deal went through last week. a lot of people thought after the deal, that chevron would look for something else in the permian basin. you saw the stocks which have moved since. he said it would not make sense for them because he pointed out they have more acres in the permian basin than exxonmobil. they have 2.2 million acres in the permian. after the exxon deal, they have 1.6 million acres. it won't make sense. ghana is a unique as well. john hess has come on many times. i asked why are you doing this with stock instead of cash. the deal last week was half cash. this is a situation where he said they don't like to do deals in cash because oil prices move so much when you are

circuit which is not afraid to ally chevron unlike the supreme court, or not reluctant to asupply chevron. the fisheries asked two questions, whether this was the proper application, or chevron should be overruled, i'm going to read this. at least the courts should look at statutory powers does not constitute an ambiguity in reference to the agency. the court only granted on the second question, kind of made the case a blockbuster. only interested in overruling chevron or limiting it. most of the attention and the briefing has been focused on the big ticket question whether to overrule chevron rather than to limit it. bright, by the solicitor general gives a full throated argument saying that chevron deference is historical, inconsistent with the administrative procedure act and has a pernicious effect system wide in that people no longer tried to sort out, no longer tried to compromise in congress because they figure half the time their party is going to be in power and they can get their way through the executive branch and it's kind of broken the political system. and he argues that ch

relying on chevron the d.c. circuit said that was a reasonable interpretation of the statute, even though, well, the statute does say it can require monitors to be present in on crowd fishing ships that itself is not nothing. couple of the place in the statute explicitly say fishman have to pay for that. but they don't in the part of the statute that applies to herring fishermen, and so there's alreadyth a negative argument there. the d.c. circuit is not afraid to play chiffon unlike the supreme court or not reluctant to apply chevron. the fishing companies came to the supreme court to ask two questions. first, whether this wasas a pror application of chevron and second weather chevron should be overruled or i'm going to read this, or at least with the coure courts should listen for statutory silence concerning controversial powers expressly but nearly granted elsewhere in the statute does that constitute and ambiguity requiring deference to the agency. the court only granted on the second question which automat

chevron buying hess for $53 billion in stock. both stocks are lower. chevron by 3.5%. hess by about .5%. this follows the big exxon pioneer deal recently. okta getting crushed again today. it's down 20% in a week after hackers accessed its support system, losing 9% of that today. >>> all right, let's get to that often rocky relationship between stocks and bonds. since highs hit this summer, stocks have pulled back while yields have jumped. which is leading the dance? let's bring in mike santoli for more. >>> i would say the circumstantial and logical evidence are that yields have definitely been the main driver of what's gone on in the markets. they started their assent in late july as the stock market was peaking. it's worth stepping back and saying what does a 5% treasury yield mean? it's not some kryptonite level for the economy or stocks. nominal gdp is equated roughly to the ten-year treasury yield. we were around 5% on average for a long period before the global financial crisis. the issue is the pace at which it's happened, the losses being taken on treasury sec

coming up, chevron will buy hess. and make a deal that puts u.s. companies at the top -- a deal that puts u.s. companies at the top of gas industries. this is bloomberg. ♪ financial health and you're trying to do that through multiple systems, that makes it very, very cumbersome. ♪ it's not just tech, it's not just people. it's how they work together to provide that experience to the customer. as a finance organization that is what you want to do. ♪ ♪ ♪ ♪ be ready for any market with a liquid etf. get in and out with dia. jon: this is bloomberg markets, time for our stock of the hour segment and the big corporate story we have been tracking this chevron closing this acquisition to acquire hess it if 53 billion-dollar deal which gives chevron a significant share in guyana. we saw the move between exxon and pioneer with a focus on ua shale. matt: with a cool story, i learned a lot about it on the bloomberg. take a listen. >> our stock for the last five years was the number one total shareholder return for the industry. whether it is independent or ma

i think about the deal with chevron and has -- hess.id i really ought to look at irish real estate, the most significant gas i have had over the last six months. it is a booming economy but to america and the united kingdom, it is starkly in ireland the house and the have-nots. there is a whole part of the economy not participating. manus: that has been a memorial. the fed released a report on friday which talk about wealth in this country and it has been the biggest accumulation of wealth in the last 30 years. i missed the boat in the body and northern ireland. i won't miss it now. tom: is bono of u2 over there? such a value having manus cranny. lisa: i have to apologize. you listen to the accent and then you think of, real estate. tom: dublin real estate is absolutely ridiculous. state with us. ♪ -- stay with us. ♪ that first time you take a step back. i made that. with your very own online store. i sold that. and you can manage it all in one place. i built this. and it was easy, with a partner that puts you first. godaddy. get help r

chevron is moving lower down 3%.. >>> nine republicans vying for the speaker position after jim jordan failed to secure the seat last weekend. hopefuls include flmembers from oklahoma and texas and minnesota. >>> and israel war planes strike the gaza strip and syria over the weekend. >>> and foxconn says it plans to cooperate with chinese authorities on tax audits and investigations following reports that china launched check into the sub sidiaries of the compan. >>> and airlines are pushing for safety checks in the dcockpits after close calls on the ru runways. >>> and spacex has signed a deal to launch up to four european satellites in space with the falcon rocket over the next two years. final approval for the deal is expected by the end of next year. >>> here is what to watch as we gear up to kickoff the trading week. the busiest week of the season taking place with 30% of the s&p and 40% of the dow reporting. among the notables, microsoft, amazon and meta and microsoft. and chevron is reporting this week especia

and relying on chevron, the d.c. circuits said that that was a reasonable interpretation of the statute, even though the statute does say it requires monitors to be present and uncrowded fishing ships, that is not so. but they don't and the part of the statute that applies to herring fishermen. already there is a negative argument there. the d.c. circuit judge not afraid to apply chevron unlike the supreme court. the fishing companies come to the supreme court to ask two questions. whether chevron should be overruled or the court should at least clarify concerning controversial powers, expressly but narrowly granted elsewhere does not constitute ambiguity requirement. the court only granted on the second question which automatically made the case kind of a blockbuster because it shows the interest in overruling chevron. most of it has been focused on the big-ticket question. that has a pernicious effect systemwide in that people no longer try -- they try to compromise in congress because half the time the party is go

the next oil mega deal, chevron buys hess. we'll sit down with both c.e.o.'s. flying into the future. we're going to sit down for an interview with virgin atlantic and delta on the next steps in aviation. from new york, i'm alix steel with my co-host, guy johnson, joining me in new york. welcome, everyone, to "bloomberg markets." guy: you did really well. i thought we were going to say london. so nice to see you. guy: i'm a little discombobulated by sitting down, finding that whole thing weird. but side by side. alix: and chairs are squishy. guy: oh, yeah, i can lean back. all kinds of stuff. at some point if i keel over backwards, it's not because i'm completely jet lagged, it's because the chair doesn't work. alix: please don't do that. guy: we got a great show. so i come to new york, and it looks like things happen. alix: there's an oil deal, and then airline c.e.o.'s, the best of both worlds on both ends. we'll be talking to chevron and hess in the next 45 minutes on this deal. the number one question i'm getting from this is are those toy hess trucks going

. >>> exxon, chevron, enphase all in the red following results starting with exxon and chevron, we'llick it over to pippa stevens for more. >> starting with exxon and chevron, they are under pressure today after disappointing results from wall street so, chevron is the bigger laggard of the day as weaker than expected international upstream profitability from its once again the international division more than offset a strong quarter for its downstream division. free cash flow was short of expectations exxon's eps miss was smaller driven by weakness in refining and chemicals processing units still the company raised its dividend to 95 cents a share profits were higher overall quarter to quarter yet significantly below last year's high water market turning to enphase, that stock sinking after the company significantly cut q4 revenue guidance the solar equipment manufacturing is facing issues on the supply and demand side. especially in europe ceo telling me growth expectations in europe are, quote, coming back to reality, meaning incremental versus the demand surge they saw immediately

chevron will have 30% ownership of 11 billion barrels of resource. chevron's c.e.o. he met the c.e.o. for dinner. they've had friendly discussions ever since. and it entered the win zone for both companies after shares almost doubled in value last year you're looking at pictures with gayana. both c.e.o.s believe that this will pass. any antitrust scrutiny and have smooth sailing in terms of regulatory approval. both shares entering the day lower. that has a lot to do with concerns about dilution of shares as they currently stand. >> tell us a bit more about the race to lock down the deals that we're suddenly seeing in big oil? >> it's clearly a race. one big firm invests in oil. companies talks about how it's really eat or be eaten if you groom bloomberg, you'll see that with these mega's do by chevron and exxon, these oil companies become dominant in two key opec basins. they far eclipse the european pures in terms of valuation and while the european companies have really won back some investor favor by moving away from the low carbon energy back to fossil fuels, th

guest: chevron deference is this doctrine established in 1984 by the supreme court.t goes to the question of who gets to interpret -- the primary role in interpreting statutes. in the chevron case, the court says if an agency's interpret ambiguous term in the statue, if it is reasonable, we the court will defer to the agency. when it happened conservatives like that were building because they liked what agencies were doing and liberals did not like it. now things have flipped. conservatives aren't unhappy with the chevron doctrine. liberals want to defend it. the court is considering abolishing that doctrine, returning that. is a case that arises out of rules in new jersey, this may be that the conservatives who have been after the chevron doctrine may say to themselves, it not doing work here. we have limited it so we do not need to overturn it. but certainly this is the court that is skeptical of the power of the administrative agencies, so one would expect they narrow the chevron doctrine even more. host: will in ohio on the line for independents. you're on with g

chevron is getting hit hard. six straight days of losses on the stock and part of that is the cyclical part of the business and the other when they are dealing with his cost overruns on certain projects with issues with co2 and water in the permian. those are more idiosyncratic to chevron compared to exxon. jon: thanks a lot, great interview. breaking down the energy story today. we had the chevron and exxon report on the big story we are tracking is the trial of sam. he is testifying today in the high-profile fraud trial of npx. we have been tracking the developments. a denial of defrauding anyone but an admission of mistakes. what can you tell us about the testimony today? >> he was being contrite when he started out. he said he made mistakes and he said he needed a chief risk officer. after that, he talked about what he didn't to more than what he did do. he painted himself as an out of touch ceo who didn't do that coating, didn't run alameda which is where all the funds went to. he gave up on that and 2021 an

the winner at this moment is chevron.was jp morgue an second ago but late votes coming in with chevron 38%. intel, that's the best performer in the dow today after its earnings beat. up next what it means for amd and qualcomm when they report next week. that story and morwh wtae ene ke you inside the market zone the first time you made a sale online with godaddy was also the first time you heard of a town named dinosaur, colorado. we just got an order from dinosaur, colorado. start an easy to build, powerful website for free with a partner that always puts you first. start for free at godaddy.com the power goes out and we still have wifi with a partner thatto do our homework.rst. and that's a good thing? great in my book! who are you? no power? no problem. introducing storm-ready wifi. now you can stay reliably connected through power outages with unlimited cellular data and up to 4 hours of battery back-up to keep you online. only from xfinity. home of the xfinity 10g network. what do you see on the horizon? uncertainty?

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chevron is buying hess corp. for $53 billion. it will give chevron greater access to u.s. shale production in texas. a part of the industry where chevron has been a leader for years. that plus hess's large oil assets in guyana make this a promising deal for chevron. the company plans to use that edge to increase buybacks of its stock to $20 billion a year. >>> if you are flying on budget airline spirit air this month, prepare for delays. the airline canceled nearly 200 flights over the weekend. spirit is pulling planes out of service for what it called necessary inspections. spirit says the disruption is expected to last several days the urged passengers to check their flight status before heading to the airport. we are not seeing any delays at our local airports right now. >>> martin scorsese's killers of the flower men had a strong opening weekend but it was not enough to overtake taylor swift, the eras tour. the concert film raked in $31 million to hold onto the top spot at the box office. after -- according to amc theaters. sources is a historical film took in $23 mill

elizabeth hasthe last time the supreme court has employed chevron was 2016 so it's been a while.. next term the supreme court will have them ask to overrule chevron, local bright versus remain a mondo that requires fishermen to me and this could be 20% of the cut. they say that was a reasonable interpretation even though. they explicitly say the fishermen have to pay for that but they don't in terms of the statute that has toth deal with pairing fishermen so there's already kind of vague negative. whether this was a proper application whether it should be overruled or at least the course to clarify the statute convening the powers that nearly grade nad elsewhere in the statute doesn't constitute an ambiguity requiring deference. there is a second question which automatically made the case kind of a blog . it will be interesting to see if they go to the big question but there is thist offramp whether they decide to limit the chevron further and i think there is reason to believe they might do that. the court was asked to overrule our deference that applies to the same principle but

chevron down about 3% right now. hess down about 1%. if you want to pay attention to the year to date action on the stocks. crude oil prices up 7%. chevron's actually lagged in terms of the energy sector overall. hess is up about 14%. you can kind of see the last couple of months is where the real action has been taking place. whether or not, chevron, kelly can get a bid out of this deal remains to be send, but it's a big deal in the day. i'll send things back over to you. >> huge action, dom, thanks. >>> the ten-year yield briefly back above 5% and dropping sharply while the yield curve is almost completely uninverted. let's bring in rick santelli to help make sense of it all. rick? >> yes. we're under ten basis points twos to tens and what's fascinating is many traders and sources that i deal with on a daily basis have a variety of reasons which all make sense as to why yields reverse. first of all, the obvious reason. psychologically, we hit a very important point at 5%. add in geopolitics and some of the nervousness and question mar

we have crude prices higher in the aftermarket, chevron did warn production in the gas field which chevron halted after the hamas attacks october 7th could hurt fourth-quarter output. the market obviously under pressure as the geopolitical anxiety level has ramped up several levels. the s&p now fallen into correction two days ago, we are getting reports, this headline among all the activity our fox news team is reporting, that internet service in gaza has been cut off by the israeli bombardment. a spokesman says the israeli army is increasing its air attacks in gaza at this hour and its ground forces are, quote, expanding their activity in the gaza strip. since october 7th when gaza hamas terrorists invaded israel slaughtering more than 1300 a single day, civilians and foreigners, israel vowed it would defend itself and, quote, wipeout hamas, the world is waiting to see when it will happen. we are getting reporters in line, and in the meantime let us flipped to wall street's fear index. intraday, it is 4.6%, for the week, despite the turmoil in gaza and israel, the fix down, everything is

breaking news this morning, chevron and hess moving following chevron's announcement it will acquireillion or $171 a share. the combined company expects to grow production and free cash flow faster and for longer than chevron's current five year guidance, additionally hess' ceo expected to join chevron's board of directors once the deal closes, chevron expects the transaction to close in they the first half of next year. the stocks are moving as you can see, chevron down 3%, hess is up 1 and two thirds percent. take a look at futures, a selloff is underway as interest rates are spiking, the dow industrials down 204, the nasdaq down 111 and s&p lower by 26. it is largely due to the move in the 10 year. take a look at the treasury yield, a 16 year high this morning sitting at 5%. 5.020%, up nine and a third basis points as we l ahead to te big week of economic earnings. we'll get the first week of third quarter gdp out on thursday, followed by the september pce index out on friday. joining me is horizon investment chief investment officer, scott ladner. good to sigh. see you, thank you

. >> pip au, thank you very much >>> exxon and chevron moving lower after missing earnings estimates.l look at how long until their multibillion dollar acquisitions make a difference >>> and let's get some show and tell in here, where we show you a chart and then tell the story. shares of intel surging 9% after the chipmaker's earnings beat showed progress toward its goal of $3 billion in cost savings for the year but remember earlier this week, intel had its worst session in a month on a report that nvidia and amd are working on arm-based pc chips here's what intel's ceo told cnbc last night about that competition. >> arm-based clients have always been low-end, low-margin products have never made that much of a difference in the pc marketplace. so we feel like if we execute well around the ecosystem, that we have so much ecosystem momentum to benefit from that. 'rgog dwewee intoo ll here are : is it possible? with comcast business... it is. is it possible to help keep our online platform safe from cyberthreats? absolutely. can we provide health care virtually anywhere? we can help wi

namely oxy and chevron and conocophillips and exxonmobil. there are other bigger players out there like eog resources which is diversified. >> a lot of possibilities, peter, is there one in your mind that is likely going forward? >> these deals are hard to put together. i'm not sure i can say one single company can agree to the price. i think it is less likely you get someone selling. >> all right. peter mcnally, thank you. i appreciate the time. >>> coming up on "worldwide exchange," energy deal making may be red hot, but david solomon says the good times start and end in texas. comments from ldn'gomas ceo coming up right after this. but if it's using untrusted data can you trust the results? your business doesn't just need ai, it needs the right ai for your business. introducing watsonx a platform designed to multiply output by tailoring ai to your needs. when you watsonx your business, you can train, tune and deploy ai, all with your trusted data. let's create the right ai for your business with watsonx. ibm. let's create. with cirkul, yo

and chevron's major rival, exxon, is the key producer there. they'll be working alongside -- together, they'll be working together in guyana. they want to move away from concentrations like the permanenten basin. analysts were saying they don't have any long-term growth opportunities. so, this deal has less synergies in the here and now given the asset base for hess is different but longer term this deal can ensure chevron can continue to grow output in these other areas even when areas like the permean are unchanged. >>> we're continuing to monitor the latest in the middle east as the biden administration advises israel to delay a ground invasion of gaza allowing more time for hostage negotiations and humanitarian aid to reach the area. jay gray joins us from tel aviv with more. jay? >> reporter: it's an interesting change of events here with what looked like ground assault all but prepared to move in with the idf. now we get this information that the white house is asking for a delay. we learned during the day today that the idf now believes

chevron is sharply lower this morning, down a 5.5%. chevron is a dow stock. off the dow. so, in other words, without chevron, the dow would be dead flat. >>> the white house wasted no time taking a victory lap after the stronger than expected report of 4.9% economic growth. i'm told it's not all roses. grady trimble with us. the problems seem to be we're taking on heavy debt, is that correct? >> reporter: you're right, stu. it's the consumer who proppedded up economic growth in the third quarter, or but it is coming at a huge cost to personal finances. americans are sinking further into debt and having to dip into their savings to keep up with higher prices. is so take a look at numbers. credit card can debt surpassed $1 trillion for the first time ever last year. credit card companies charged a record $105 billion in the interest, but as you noted, the biden administration doesn't seem worried. >> president biden vowed to build the the economy from the bottom up9 and the middle out, ask that's exactly what we're seeing in the data. >> reporter: that gdp numb

we'll get her take, also vin mpe to trade chevron kesison owns that. leading the dow sharply. you got this. let's go. gobble gobble. i've seen bigger legs on a turkey! rude. who are you? i'm an investor in a fund that helps advance innovative sports tech like this smart fitness mirror. i'm also mr. leg day...1989! anyone can become an agent of innovation with invesco qqq, a fund that gives you access to nasdaq-100 innovations. i go through a lot of pants. before investing carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com. municipal bonds don't usually get the media coverage the stock market does. in fact, most people don't find them all that exciting. but, if you're looking for the potential for consistent income that's federally tax-free, now is an excellent time to consider municipal bonds from hennion & walsh. if you have at least 10,000 dollars to invest, call and talk with one of our bond specialists at 1-800-217-3217. we'll send you our exclusive bond guide, free. with details a

the second big oil merger of october is underway, chevron announcing it all by hess less than two weeksith axons deal with pioneer natural resources, should you add more energy to your portfolio. finally take a chance and roll the dice, why casino stocks could be a winning play, the bearings roundtable ben livingston, carleton english and andrew bary. not a pretty week on wall street, this time it is not rising yields letters picket investor. >> that is correct, we have a correction that the s&p 500 has dropped 10% from the peak earlier this year, it really is big tech that is causing the problem they came out with earnings and most of them did not impress particularly alphabet the parent company of google dropped the most 10% after reported his numbers. these are the stocks that carry the market higher all year long now they're driving it down. >> if those guys are down, look at the rest of the market, what you see another earnings reports. learning has been pretty good so far, earnings are on pace to grow 3.2% from the previous quarter which is quite good coming in to the earnings sea

chevron, here is why the dow industrials are only down a few points.are adding 50 points to the dow they are both winners today they are both dow stocks. that's why you have a limited loss on the dow industrial, chevron, amgen both up significantly. it is been downhill for the biden president day one as three year slight to constant crisis, the president will be judged by all of this. that will be my take at the top of the next hour. presidential hopeful robert f kennedy junior to make a historic announcement today. widely expected he will make a run as an independent. jeff flock has that story after this ♪ ♪ you're probably not easily persuaded to switch mobile providers for your business. but what if we told you it's possible that comcast business mobile can save you up to 75% a year on your wireless bill versus the big three carriers? have we piqued your interest? you can get two unlimited lines for just $30 each a month. there are no term contracts or line activation fees. and you can bring your own device. oh, and all on the most reliable 5g mobil

i'm looking for it to spike higher >> chevron i since traded from 180 down to 140.ntal as a company has to get better. there are dividend payments, yesterday. >> same. same final trade as yesterday, meta. >> apple short into earnings if it's good, it will give back. if it's bad, it could be a at e enlathsce . >> >>> my mission is simple, to make you money. i'm here to level the playing field for all investors. there is always a bull market somewhere and i promise to help you find it. they have -- mad money starts now. >> hi, i'm kramer. welcome to bad money. i'm trying to make a little money. my job is not just entertaining but teaching. these days are just brutal, aren't they? dow plunging seven points, snp falling,

>> hasn't came out of left field but it might be surprising chevron is buying hess after they bought back in august but this is a continuing trend that we see in the oil patch even exxon back in july but to bury resources and it's clear that it's cheaper to buy reserves in existing production rather than drilling new holes in the ground and that's what we see with the consolidation recurring. what is interesting including the bloomberg, reuters says chesapeake is looking at southwestern into your point about mna grays, how many will be end up with, the good to be gobbling each other up. >> there's certainly growing into bigger entities and then you could ask yourself what's going to happen with occidental petroleum or diamondback energy or the few remaining independents that are producing in the permian basin. hess as chevron is good because has has a lot of production and north dakota in the gulf of mexico and in going to which is proven to be a big bonanza as far as oil production and these are locations where the political climate is quite steady for investors. ashley: is a reacti

exxon and chevron reporting. we'll take you to highlights from amazon and intel as well.sam bankman-fried set to testify at his fraud trial today something of a practice run yesterday. we will explain. today he's expected to face the jury the final hour of "squawk box" begins right now ♪ ♪ ♪ ♪ >>> good morning welcome back to "squawk box" here on cnbc live from the nasdaq market site in times square i'm "joker" then along with becky rice and andrew ross sorokin we had good numbers when it started, still with the nasdaq, but the nasdaq was up well over 100 earlier in the pre-market session. the dow at one point was up 100. >> and it was up at one point earlier this morning by 8% or 9% when we started. >> now down. it is not our fault. we're not taking that. the s&p was indicated up 27. i at least saw that when i first checked it now it is up only 5. we have pointed out high -- the high in the s&p to where we are now, about 9.6% in terms of coming down. so that's just -- just almost a bona fide correction which we have seen in the nasdaq. treasury yields, whether that's par

ends, but channel 1.1 remains with you until the morning on the air, the united marathon continues. chevronst the victory is approaching, we ukrainians are citizens of an independent country, this year we are not celebrating again, we are defending, just as our ancestors did, for hundreds of years in a row. we are not afraid of the enemy or his missiles. because we are at home in our land, with our language, with our flag, the flag of free people's ukraine, colors that you cannot confuse with anything, colors that inspire, colors that unite and give hope, that is why we are fighting for the future. for freedom, fight, fight, for your sacred right to live, of the same fate, of the same kind. the independence of ukraine and the creation of an independent ukrainian state of ukraine, indomitable, free, brave, those who prove it every day, help the child. no, do not fall into a trap on the internet. the first and most important rule is to talk to your children about cyber security. don't be a controller and don't ban. be the adult who helps and protects the child. the prohibition method does not

chevrons approaching victory. ukrainian gives freedom. the occupiers are pulling their tails, having heard about the ukrainian palyanitsa and bavorna. and we haven't mentioned this in... out of 30 letters, although we will have loving words for everyone, we will not be destroyed, we will be protected by the power of the three forms of the future tense, we will go, go, go to victory in spite of everything. ukrainian: the language of the free. do not scold the child for sitting with a smartphone, better take care of his safety, the child is watching his favorite cartoon on your gadget, on the screen with... notification: congratulations, won a million, the child clicks on the link, the screen starts flickering and fades, the child gets scared and hides it, your personal information goes to scammers, to prevent this, install security programs on the gadgets that the child uses, tell the child not to click suspicious links, more effective tips at dovidka.info. government game. aimed at supporting ukrainian business, the grant itself from the

thing i am surprised chevron hasn't acted better course of last few days we now know that we struck with venezuela, to import more of their slugy oil chevron would be one of the biggest beneficiaries of that venezuelan deal i am surprised have not reacted that well last week or so, i want to ask pete a question about the overall market, and a.i. is think we can make argument it is a very valid argument that a lot of this year's rally,stems from the a.i. narrative yet a.i. the poverty vialed nvidia under pressure down 16% over the course of the last few weeks, specifically because this administration is clamping down on made nor china shift so pete i am wondering what is your take on nvidia ai does that have potential to take air out of this ai fueled rally? >> absolutely it does, and i think you are exactly right spot-on, i look at nvidia what made decision on chips directly nvidia o not as direct as rest of the other ai components out there not necessarily competitive but those are actually using. cheryl: i think when you take a look at this week's earnings that is why this is such

i am anxious to talk to the gentleman from chevron. and make him aware of our carbon credit bank that we are establishing. i made 89 trips to africa in the last five years. how we can exchange energy onto one another and the ideas of the energy space, there is efficiency that we can help stimulate the african economy through training -- training of carbon credits that would be a benefit to american companies and also to african nations. i would love the opportunity to speak further. especially to the gentleman from exxon and my brother with lapse in energy. >> let me take a brief moment and thank you, jerome. he said some very powerful things. i want to make sure that you will put your most provocative things on the table because the success of the session will be when you finish the engagement. i want people thinking in big ways. let -- you find educators in interesting places and he serves on one of our subcommittees on energy which he will explain and i have asked him to give us a provocative minute because when you go to the reentr

chevron missed earnings estimates. earnings are overshadowed by two major mega deals. we will speak to the exxon ceo darren woods. earnings shake it off or ain't going to be all right. big week for earnings, big week for telus riffles i am alix steel with my cohost -- big week for taylor swift. i am alix steel with my cohost, guy johnson. this is the last date we will be in proximity, we will miss you. i'm not sure what my takeaways yet. guy: my take away from the european earnings story is they stink. alix: that is supposed to be factored in the price. guy: what they really stink. today's data fits the narrative in the consumer continues to spend. that is the line between that data and taylor swift. the taylor swift, beyonce, b arbie story has been phenomenal. i wonder if we are running out of steam on that. spending is a big factor. fantastic story on the terminal which speaks to this narrative as well, buy boomers, sell millennials. boomers have loads of money and they are spending. millennials, not so much. alix: and they have money in money market funds. the numbe

alix: chevron stock is down over 5% on a miss explainable. six straight days. we haven't seen that since '21. what is the safety for stocks? the weight loss drug, luxury, ai. those have been safety areas. all of them seem to fall. what are you supposed to do? guy: what do you want to own, novo or nvidia? nvidia, that bubble might be deflating. novo looks like it's inflating, ironically. it's tough. energy story -- big movers in stocks today, nevertheless, you look at areas where you still see a topline moving. alix: huge cash flow. guy: and yes, during earnings season, maybe you get vol around that. alix: when it comes to tech, look at names and growth. the growth is great, it is just slowing. how much can you punish a stock for not getting 60% growth? jan-patrick: we have a magnificent seven. it makes sense if you have high expectations about growth. if you are falling a little below, investors are disappointed. mega caps or big tech is also pretty crowded with investors. same for the weight loss story. energy to some degree. that creates risk. for the moment,

the deal put chevron and exxonmobil head to head in shale. hess owns shale fields in north dakota and has a big offshore oil presence. >>> hollywood is hopefully the next round of talks with striking actors goes better than the last round. when last they spoke 12 days ago, talks abruptly ended over major differences that could not be bridged. since that time, some of hollywood's biggest stars tried to make concessions with the hopes of bridging the gap. the broader union shot down that offer. at the same time, the longer the strike continues, the more economically challenging it is for the rank and file. the latest round of talks is scheduled to get under way tomorrow. >>> and trending this morning, a wild animal create ago bear of a situation for first responders in alaska. >> take a look. >> we've got him. >> the little bear managed to make its way into a grocery store last tuesday. the wild animal was caught wandering the aisles. body cam video shows police eventually getting the cub under control. he looked just as scared, too, though. >>

when i sigh bid from chevron, i got deja vu. mobil, 60 billion and it was pioneer natural resources. these are colossal deals, people. they all realized it was cheaper to drill for oil on wall street than in the ground. they see these things from the stock market and they just passed. the oil industry has a newfound discipline. they can pick up some other companies. the giant budget to make deals added to earnings almost immediately. it is a great time to own oil companies and keep their stocks. it was terrific. it seemed way too cheap. it is too much sense as a takeover target. it makes it so and resistible. electric vehicles seem a lot less ethical than they did six months ago. it is stuck in a world where oil has an expiration date. in vehicle sales, they do not believe that short termination theory anymore. because of the last two mergers, they are aided by troubles in the middle east. they got clobbered today when oil dropped a couple bucks. now it is an oil and gas for her. we have ceo tom jordan on the show. this cruiser

chevron, the russians and saudis have cut back production to prop up the market. dumped millions of barrels from the strategic reserve said he would buy back and didn't. now there's not enough left to push down the price. saudis and russians are determined not to let it come down and our oil industry has increased production. geopolitical chess match, not organic demand, has oil higher. that's why not as strong as crude itself. chevron was only third performer, should have been number one with price of oil today. we prefer pioneer natural resources and cotera. could soar with a cold winter here or in europe. chevron's yield used to attract people to the stock market before we went to the bond market. fourth best, intel. why? because the company is not doing as badly as it used to be. pretty low bar. but there are always people looking for it. when they get a whiff, they can't resist. in intel may be better and congratulate them for that. best hope is a huge personal computer renaissance. said in honor of my friend will frost from britain. but i would rather play w

the other -- it looks a little bit reactive on chevron's part.hich is why we asked the next obvious question. >> they were talking before hand. they talked to a lot of people, and taking at no premium, what does it mean for the exploration production companies still on the board if hess got no premium off their last trade. >> joe terranova was like, okay, does conocophillips go out and do something? keep your eyes on the space. mgm leading the s&p 500 today. contessa brewer following these moves. >> a price target of $111 on win trading higher than $90. they say opportunities abound in las vegas. there's a rebound in macao, a new project in the middle east, all of that hsbc is largely ignored and under priced by the market. mgm shares up about the same fueled by optimism over some of those same factors, plus, of course, mgm has investment in the digital world and acquisitions internationally price target from hsbc $49, where you can see it sits at a little more than 36 bucks now. las vegas sands got a boost for some of those same reasons. macao j

. >> reporter: and just down the hill at the chevron they say they, too, are being plagued with similar problems. >> we have to put a sign that says no cash on the premises. >> we tried to do that so they do not break in. >> he has been the general manager at this chevron for 42 years and says break ins and robberies are the norm. >> tried to break into that. so, that is usually, we leave the drawer wide open so they can see it through the window. we leave the shutters open. >> the gas station has had back to back break ins. the latest one happening on sunday. stealing everything from tools, oil and sodas. >> less than $200 worth of stuff and about $8,000 worth of damage on the windows. it is not the first time. it is happening over and over again >> how many times a week does it happen? >> the last couple of weeks we had three break ins. >> reporter: he adds the gas station is locally occupied. they have reached out to oakland police each time a break inhappens. >> that is when i call 911, telling them i have an intruder, in the location they came the next day to respond to that. >> wh

. >>> and chevron shaking up the oil industry in a new megamerger. that company announced overnight it is buying the hess corporation in a deal valued at $53 million. the deal puts chevron and oil giant exxonmobil head to held in one of the world's fastest growing commodities, shale. hess owns shale fields in north dakota. it also has a big offshore oil presence in ghana, which has become a major oil producer in recent years. >>> cal state east bay is working to get more educated professionals into the cannabis industry. the university is partnering with the training platform green flower to launch four new certificate programs, including health care, medicine, business, compliance, risk management, and agriculture and horticulture. leaders say the new partnership comes partially in response to the heavy regulations cannabis businesses face to operate in the state as the industry continues to grow. >> it's important that we realize that cannabis is not something to be afraid of. and california has always been the leader in that nationally and interna