Yields have picked up. Tenyear yield above 5 . That is a significant level. We touched briefly above that for a nanosecond last week. Since then, you have to go back to 2007 when you have seen yields at these levels. 5. 012 for the tenyear yield. By the way, check out energy prices. You will see wti which is off 33 cents. 87. 76. We have merger monday as joe mentioned. Look at what is happening here. Chevron buying hess in the deal of 53 billion. 171 a share. That is a low premium over the Closing Price for hess on friday. Hess shares are up 2. 25 . 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 chevrons 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 Els
Husband members right now propelled house members propelled by the or urgency of developments both here and in the middle east are trying to vote in a speaker. Right now the house has taken a recess after the first vote in the last hour for republican representative jim jordan of ohio fell short of the 217 minimum needed to win his bid for speaker. Democrat Hakeem Jeffries has the most votes but still short of the minimum at 212. The importance of this vote cannot be understated. Until a speaker is elected, congress cannot respond to emergencies or crises is. And the high stakeses in the middle east definitely constitute a major crises in which the u. S. Is playing an a increasing role. Tonight President Joe Biden will depart the white house to head to israel, jordan and egypt. This as incoming hamas rockets fired directly at cities to the north including tel aviv continue to rain down. 4re67b days after eleven days after the surprise attacks in southern israel in which 1300 israelis w
Attack. He simply said dont. Iran is threatening, its foreign minister said irans hand is on the trigger. Overnight, irans proxy, hezbollah, fired antitank ziti missiles into israel and Israeli Defense force says 199 hostages taken by hamas and fbi director Christopher Wray warning about terror attacks inside america from lone actors and four iranians apprehended at the border this month. Tension at a boiling point, the president canceled his trip to colorado. A wider war may be imminent but the stock market shows modest gains and the dow is actually gained nearly 500 points since the fighting began. The dow this morning looking for a gain of maybe 200 points and Empire State Manufacturing slowing down and that helps the market. The s p 500 up 23, nasdaq up 50 points. This is premarket, but wash out for oil. Im going to call it the canary in the financial coal mine at 87 a barrel this morning, had been at 88. If that goes up, the market may take a hit. Watch out for Interest Rates too.
From daly and kashkari. Plus, exxonmobil agrees to buy pioneer. Its about a 60 billion all stock deal. We will, of course, give you the latest. Its another big test for the ipo market this morning. Shoe brand birkenstock making its public debut thats how they pronounce it right here at the nyse. Ceo is going to join us here at post nine in the next hour. Lets start with that massive deal in the energy sector. Exxonmobil agrees to buy pioneer. The price tag, 253 a share. Its all exxon stock, so in this case, when exxon moves down, the overall value of the deal is impacted. Therefore, it is no longer 253 but not that far off from that price. They are talking about significant synergies, as much as 2 billion total annual average value over the next decade. 2. 3234 exxonmobil shares, its an 18 premium. Little background that i got, jim, and obviously want to get your take. You know this company, pioneer, so well. My understanding is having spoken to people familiar with the old situation,
Enters a third day. The u. S. Is moving an Aircraft Carrier strike group closer to the region. We are watching wider diplomatic fallot as one report says iran helped hamas plan its unprecedented crossborder assault. Shery watching the wildcard in the oil markets. At the potential the conflict could spread to the rest of the middle east. Gains for oil prices on that potential up 86 per barrel for wti. Rent is past 88 per barrel after oil posted the biggest weekly drop since march. Iran is a Major Oil Producer and key backer of the hamas group. Though there is no immediate threat is applied. People are watching what will happen with the shipping on the strait of hormuz where tehran has threatened to close it in the past. I did the treasury space Higher Oil Prices could mean higher global government yields freed we saw the 10 year yield and 30 year yield at the highest levels since 2007 last week. We saw a little more stabilization through the week with cash treasuries closed monday for t