exxonmobil is rumoured to be in talks with tesla, ford motor, volkswagen and other auto—makers to supplyo a bloomberg report. lithium remains tiny compared to the fossil fuel business that has powered profits for exxon and for the other oil majors for the past several decades. but their interest suggests big oil thinks it may get bigger in the future. that's michelle fleury in new york. and that's it for this edition of asia business report. i'm monica miller. thanks for watching. bbc news — bringing you different stories from across the uk. they are both autistic. he has adhd as well. they are both in nappies still. adhd as well. they are both in nappies still-— nappies still. for eight years, emma has — nappies still. for eight years, emma has been _ nappies still. for eight years, emma has been campaigning | nappies still. for eight years, i emma has been campaigning to get more changing places toilets built, because poor facilities has often meant leaving home could be a problem. it leaving home could be a problem-— leaving home could be a problem. leaving home could be a roblem. , .

chevron not above t exxonmobil broke above today. the leaders they're starting to join the party i'm looking for what we see recently, if we were to zoom in we see a nice little rounded base and we have a breakout. like i said, this is a little wonky ipad, these aren't the greatest charts in the world but what we have today is a breakout not only in the xle, exxonmobil is above the 200 day moving average, chevron -- >> i'm interested to hear you say that and not to say that this is -- has gone too far or too over its skis. >> not at all. this was the leading sector in 2021, 2022 and it's been lagging but over the last four months it's up 12%, 7% last month it's starting to catch a bit and pippa just talked about it, with crude 83.5 is a key level, it's trading right there, we see a brokeout and you throw in hurricane season, i just dipped my toe in the florida waters it's kind of warm, let's see what happens there. >> might be good news -- >> with unhurricane in the gulf and the price of crude is going to rally if chevron can join th

over the last two to three years, chevron has significantly underperformed conoco phillips and exxonmobilt this inflection point where you can say okay, that mean reversion in performance is about to take hold i really think it's about what mike worth is doing here, navigating the balance sheet and taking free cash flow to a point where it's going to accelerate, as you move out of 2024, into '25 and '26. so it's -- it's viewing the opportunity in the permian basis, it's realizing the capital allocation is going to get some tail winds behind it. and oil prices might ultimately act as a tailwind, as well so i think the upgrade is a good one here >> new buy for you, speaking of energy tell me about this one >> so we own some of it, we bought it maybe six weeks ago. we bought more, because the stock has come down. why was the stock going down in the first place? because it's a sustainable energy company in addition to being florida power and flight, about half and half. we know that electricity demand is going to double or triple in the next 20 years. they're a real leader in the field, and e

. >> jimmy owns rig, as well, and exxonmobil. >> i'm a big believer in the energy space. of fundamental reasons to be long energy here. natural gas is way too low for what it's going to be, a supply shortage in europe this winter. and what happen it is china breaks out of its malaise? demand will go up, supply is constrained. not only overseas but here in the united states. it's harder and harder to get shale oil out. so i love a more high beta play like transocean. that's a great way to get the best bang for your buck. i look at them as twins. roughly ten times earnings, 3% dividend yield. the last thing on this, if you look at the xle, all it's done this year is consolidate the two years worth of gains before that. that's a setup for another leg higher. >> okay. quick thought on that? >> i totally agree. i'm 10% overweight my benchmark in my portfolio in energy. i have a big, big waiting in sluchlu schlumberger, but diamondback energy also very cheap. cutting costs and really good assets. i think there's plenty to choose from. >> we'llom ce back and do "final trades" on

so a lot of times they're getting hired by exxonmobil to be an environmentalist making environmental impact statements, but it creates environmental, which is going to lead us to where the fourth wave's coming with climate change. and i dwindling time. i will tell you earth day. nixon decides split the difference. he gives interior staff the day off to teach people about earth. he plants tree on the white house with pat nixon good photo op so he did something tree planting legit and hires the fbi do deep surveillance on the earth day headquarters in the and protesters. nixon says they're pinko commies. i'm worried that this a ruthless socialist plot and it's aim to make me look bad and so erlichman and ruckelshaus people go and the one of the funnier memos we historians read other people's mail for a living one of the funniest letters is with erlichman and ruckelshaus. erlichman and pete mccloskey out here in california, a former republican moderate environmental congressman. he's they're good friends, erlichman and pete. and he says pete, you won't believe what the fbi has come up w

. >> exxonmobil is my birthday gift to everybody. >> that does it for the halftime report, "the exchange welcome to "the exchange." i'm kelly evans and we begin with the major market news of the day. you see it right there behind me. the ten-year treasury yield surging to 4.35%. that's the fresh 16-year high, we're just a hair below that level right now. the question is whether this is a breakout or a late summer headfake. we have full team coverage this afternoon from the bond market to the impact on the mortgage market, you'll want to hear about that and how fed chair jay powell might react in jackso

majoring environmental, to go walk for the sierra club are -- a lot of times they are getting hired by exxonmobil to mean environmentalists, making environmental impact statements. but it creates environmental law, which is going to lead us to where the fourth wave is coming with climate change. and am i in my dwindling time, i will tell, you earth day, nixon, he decided to split the difference, he gives the interior department staff today off to teach people about earth. he plans a tree on the white house with nixon, it a photo op. so he did something, tree planting. legit. and how the fbi do deep surveillance on the earth day headquarters and the protesters. [laughter] nixon says they are pinned go commies. i am worried that this is a reuther socialist plot, and it is aimed to make me look bad. and so ehrlichman, ruffled of people go. and one of the funnier memos, we historians redoubled name mail for a living. one of the funniest letters from them, ehrlichman and pete mccloskey, out here in california, former republican moderate, environmental congressman. they are good friends, ehrlichman and

i own exxonmobil, i own schlumberger and then i own the xle separate from everything else but those twoare names i own. i still own them. i still like them. i would still buy more of them, right? i think energy certainly had a great year last year. it is flat this year, basically underperforming the rest of the market, but to your point i do think energy is going higher. fossil fuel is not going away. global demand is heating up. renewable energy is still in its infancy stage. so i'm bullish on energy. look, you saw what happened, right? there was a big draw down in inventories from the eia the other day they reported, right? they have got, now that issue in gabon there is a coup there. they have taken control of that country. now you have the saudis and russians still threatening ongoing production cuts, they would rather see oil at 90 than they would at 80. charles: by the way that coup was amazing. i don't know if you saw all the videos. president, all these guys, they had suitcases full of swiss francs. don't get me started, kenny. >> right. charles: got to let you go. they're yelli

and the chevrons, the exxonmobils are as efficient as they've ever been, but those stocks are showingnk that those individual names are moving higher. i think crude could move higher without the actual equities. >> lilly is a mounjaro story, isn't it the weight loss drug >> it's alzheimer's and obesity. >> bonawyn >> i like the health care defensive play i think over history, that's proven itself to withbe relativ true there are those three or four names that have had monstrous moves, that trade in mid 30s or higher, in terms of multiples. so, typically, alongside that health carol defensive nature, you are going to move down into what you're paying for earnings, and i think that situation just isn't the case, so, i actually do like xlv versus necessarily chasing a name that's already doubled over the last, i don't know, 12 or 18 months. as you look to rotate, or barbell with that uber names and something a bit more defensive >> katie, you get the last word. >> yeah, merck, for one, is the fourth-largest holding of xlv. and to me, that has a very interesting technical setup. it seems

it's a good opportunity to get into exxonmobil, 3.3% yield. >> i thought -- you would say almost 10%el like i expended a lot of time on cleveland. >> you did you did. self-awareness is important. you did. appreciate that. stephanie link >> mcdonald's, i don't own it yet, but i'm waiting for a approximate pullback to buy it their u.s. same-store sales grew 10.3% and international developed 14%. 90% of china's business is digital now which sort of interesting and they have been doing a lot of technology innovation in the drive-throughs and all kinds of things and this is one on my radar screen. >> it's kind of disappointing. >> it's expensive. 25 timeses and i want it to pullback and it's had a couple of days and it's a sleeper over the next three to five years based on technology innovation mcd, we'll keep watching that and joe t. >> from the financial sector, visa you can also have mastercard and both of these names performing incredibly well. >> paypal, by the way. we didn't talk about that. finally, new ceo. >> new ceo a lot of work to do. [ laughter ] >> good stuff. good being bac

. >> exxonmobil is my birthday gift to everybody. >> that does it for the halftime report, "the exchange" with kelly evans picks it up right now. ♪ ♪ >>> thank you very much, dom. welcome to "the exchange." i'm kelly evans and we begin with the major market news of the day. you see it right there behind me. the ten-year treasury yield surging to 4.35%. that's the fresh 16-year high, we're just a hair below that level right now. the question is whether this is a breakout or a late summer headfake. we have full team coverage this afternoon from the bond market to the impact on the mortgage market, you'll want to hear about that and how fed chair jay powell might react in jackson hole later this week. let's start with rick santelli out at the cme and rick, why today? why now? >> well, i think because technically we broke through some very key levels not only on a daily basis last week, but on a weekly close friday. let's start at the beginning. ther there's a 24-hour chart, kelly. right around midnight, we started to race higher and the reason is let's make a two-day chart. if you look at t

to the point, brenda, that you made, something like exxonmobil has gone absolutely nowhere this yearf you look at the three-year return, the average three-year return is 45%. this is a classic case of, there's been a tremendous bull run. the energy stocks, independent of what the commodities are doing, needed to consolidate it's a heck of a consolidation, but if you just look at where oil is, and natural gas is still low, but probably going to go higher as we get into the winter months, there's a lot of reasons, fundamental reasons, to think that the next leg in energy stocks is higher. we've got to refill the strategic petroleum reserve. the administration totally missed it when oil was below $70 a barrel >> they're not the best writers. >> yeah. you said it. you've got saudi arabia talking about more cuts. heaven help the energy markets if china actually does stimulate more so, there's a lot of reasons to expect the commodity prices are going to at least stay at this level, and again, the energy stocks themselves have just been in the consolidation phase i think the next move is sh

but exxonmobil, jp morgan chase right behind. so it's rare to see all these different sectors participating. and on the month right now, the s&p 500 down about 3%. this, of course, has the vix higher. that is the worst monthly performance of the year, the worst decline on the year. the vix, as you can see over the last few weeks, starting to trend higher, not quite at that 17 handle. it had been. in fact, right now the vix feels a little bit orderly relative to the degree of selling. but let's wait as the day goes on. and as for the s&p 500 itself, well, from a technical standpoint, last week or a couple of weeks ago, at least, we were tracking a bearish divergence was which was that rally out of july on a falling rsi. you can now see that it is below that uptrend and and perhaps declining guy right to the bottom of that trend channel there suggesting more declines more pain could be ahead for stock longs. all right. i'll take it from there. abigail, thanks a lot. really appreciate it. we are seeing commodities get hit very hard

exxonmobil recently agreed to buy co2 pipeline operator denbury last month for 4.99 billion. so very interesting development. yeah. so so tell us a bit more about this increasing interest that we've seen in occidental over the past few months. yeah, this is a year you should recall where oil and natural gas prices earlier in the year were slipping. and yet we saw warren buffett, who many people follow for his very prescient investment advice. he was buying oxy. what's very also important to note is he's a big fan of vicki hollub. she is the only female ceo of a major oil company. and back in 2019, when it looked like she was going to lose the bid for anadarko, she got a call to put in a call to warren buffett. she didn't even think he knew who she was as she tells the story, she made the call. he took her call right away and he gave the cash to oxy to make the winning bid for anadarko. apparently, he's been a major fan of occidental ever since with a more than 25% share in the company. it's just over 25% as of the latest 13 f filing that we reported yesterday. and so a very i

walmart and exxonmobil are joining forces to offer plus members double the savings on gas for a limitedime. walmart plus members can now get $0.20 off every gallon of gas purchased at participating exxon and mobil stations until september 15th. the retailer says the deal is to give customers a break at the pump after several months of fluctuating prices. walmart plus members have been receiving $0.10 off each gallon of gas since april 2022. well coming up on mornings on two, the nine tweetdeck, now known as x pro, will now reportedly need a paid subscription. we'll talk about the new features amid the push for users to subscribe. and state attorney general released the latest numbers in gun violence. california. here now, how the report sheds light on a drop in violence in our state and now please welcome ana montoya. [applause] [suspense] ( ♪ ) hello there, fellow students... okay everyone, our mission is complete balanced nutrition. together we provide nutrients to support immune, muscle, bone, and heart health. yaaay! woo hoo! ensure with 25 vitamins and minerals and ensure complete

those companies and the companies you mentioned as well are some major american companies like exxonmobilsponsored the original sanctions legislation just after the invasion in 2022, i don't think we contemplated the possibility of circumvention. this is really very similar to money—laundering, but it is a laundromat that has occurred here on this and russia gets the money and it doesn't make any difference if it is crude and refined we need to plug this loophole. and i will be calling on the administration to do this administratively, which i think they can do, but also entering a legislation that would call on banning imports from any refinery that has russian oil. and we know that has russian oil. and we know that the refinery that america looks to a great deal, the one you mentioned, the largest in the world in india, is getting about 35% of the oil it refines from russia. and the oil it refines from russia. and in terms of _ the oil it refines from russia. and in terms of legislation, do you think you could secure bipartisan support for there is or has the mood fundamentally changed

sales exceeding $611 billion in 2022 energy also a big winner steve price's at the pump propelling exxonmobilwould happen in the next year for that saudi aramco nearly derailed walmart for the top spot, $603 billion. for more, let's bring in the editor in chief of "fortune" magazine good morning. >> good morning. hi, everybody. on our global 500 list, you can have government-run entities and there are over 100 of them fedex is on the list u.p.s. is also on the list amazon, walmart, lots of shopping happened this year. they're benefitting. >> we were talking during the commercial break before you came on about how this list is put together, which is different than just taking all the data. >> yes for the fortune 500, you can take the public data, the global 500 a lot of reporting goes into it it is a long time work of effort i'm getting reputable information from china companies, for example not as easy as getting it from the u.s. companies there is a scrappy team behind, they have been doing it for 34 years, doing this list. >> and do the companies willingly participate in this? are they all

union says workers down tools on tuesday over procedures not being in full working order at the exxonmobilarged with threatening the life of a federal judge in one of the cases against the former president donald trump district judge tanya churkin was the alleged victim of the threat and a racist comment, according to court papers . the woman is to court papers. the woman is said to have contacted the federal courthouse in washington , dc by telephone . judge chuck , dc by telephone. judge chuck khanis , dc by telephone. judge chuck khan is overseeing one of the court cases involving trump's alleged attempt to overturn the 2020 us election . thousands of 2020 us election. thousands of people have had to be evacuated from their homes on the spanish island of tenerife . as wildfires island of tenerife. as wildfires continue to spread. the fire is now 19 miles wide, destroying dry woodland in a mountainous national park and on a volcano in spain's near spain's highest peak , which is hampering access peak, which is hampering access to the area . some 250 to the area. some 250 firefighters hav