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Oil, 41. 40 we talked for a long time about mike pences hawkish speech on china from a year or two ago but pompeo yesterday oneupped that and this consulate news from china is weighing on sentiment too. Yeah, he upped the ante jim did focus us at the time on Vice President pences speech because it was quite truck lant would be a word to describe it at the time but it continues to go up in terms of the tensions, carl weve talked about it pretty much every day, whether its a backandforth over huawei, whether it has to do with conversations about closing down the app tiktok in the United States, whether it is the closing of consulates here and the response from the chinese. This is not going in a direction that many, who at least are invested in the idea of global trade, certainly, mike, would wanting to see. For sure. On the one hand the market is not necessarily overly focused ....
Years. And lots to come on the show. Two big ceo interviews on the back of earnings in a few minutes well speck to the owner of Outback Steakhouse blooking brands and later the ceo of boston beer will join us that stock surging after the truly hard seltzer brand helped boost sales. Looking forward to both of those interviews were down. 6 lets get to the big stories were watching meg tirell has more on the signing. And mike san totoli is joining s meg, let aers start with youen that executive order news. Hi. Drug pricing hasnt been in the conversation as much this year as the drug industry has been racing to develop vaccines and drugs for covid19 but the president reportedly planning to sign an executive order with a few different aspects on drug price this is afternoon. One could be allowing importation of drugs from canada where theyre price moored cheaply. Another could focus on tying prices to basket of prices from other we ....
Dollaryen pushing a bit higher. You are also looking at the 10 year going no real place, and oil trying to stabilize as earnings continue to rollout. Honeywell the latest, suspending their fullyear guidance. Time for todays market moving news from new york and washington. Lets start with earnings. We are about halfway through the seasons. Oil giant chevron out this morning, cutting capex for the second time at about five weeks, warning profits will suffer. Bloombergs Annmarie Hordern has more. Annmarie thats right, that capex headline is really the one to take away from chevron. Clearly, they are doing what they can to save cash. The original plan before they cut earlier was for 20 billion. 14 billion is roughly where chevron has been spending over the past three years or so. Dividends has been a big topic for the oil company. Sayingre now they are they are doing everything they can to protect it. In just going to be out under 3 ....
He hit everything and anybody, go ahead. Maria quite the scene inside and outside the rally, of course, breaking news this morning, oil prices, markets are moving this morning after missiles hit and Iranian Oil Tanker, saudi port city of jetta overnight, iran state media, leaking crude into red sea, iran says the situation is under control now, the ship crew is safe, key shipping route for global oil industry, lets talk about that, here oil prices up and 3 quarters percent, reaction here. Look, this is just an isolation of tensions, we dont neglect that, its unconfirmed. Theyll be a marginal strike in prices. Thats right, we saw that attack on saudi oil field, we got spike up in prices but it didnt sustain, so i dont see this being i think this continues, but i dont see it as being sustainable higher earning. Maria in terms of resilience of the u. S. Given the supply thats coming out of america right now. Dagen as long as ive ....