Financial Performance - SLB earnings demonstrate resilience in the market, international growth, and margin expansion [2] - The company is well-positioned for the year [2] Market Dynamics - Oil and gas fundamentals are intact [4] - OPEC+ decision to release more supply coincides with summer demand, China stock refilling, and low global inventory [4][5] - The effect of added supply has not significantly impacted the community [5] - Optimism remains that the resilience of the oil market will stay in place [5] - Short cycle market adjustments are expected, possibly in North America [6] - Long duration and long cycle markets, such as capacity expansion in the Middle East and deepwater assets, will continue to see investment [6] ChampionX Deal & Recovery Market - ChampionX has a best-in-class portfolio [7] - Customers prioritize getting more barrels with existing assets by increasing operating and capital efficiency while lowering emissions [7] - ChampionX portfolio complements SLB's portfolio with full technology solutions [7] - The recovery market is a growing and exciting market opportunity [8] - SLB can transform the recovery market by adding integration, digital capability, and subsurface expertise [8] - Unlocking recovery of existing assets adds more reserves, barrels, and sustained production [8] - Champex portfolio complements SLB's portfolio both internationally and in North America [9]

Joining us now is Dave Ripley. He's the co-CEO of Kraken. Dave, what's the significance of this day for you.Welcome. Yeah. Well, thanks for having me.So, uh, you know, this is a historic day, long time coming. It's been a long journey. Uh, you know, I first started, uh, coming out to DC many years ago, talking about the regulatory environment, talking about a day like today where we would actually have some clarity. Uh, and it's frankly a testament to individuals like Senator Hagerty who I first met many ye ...

It's incredibly significant. I think it shows that this country is ready to take the lead globally with digital assets and it should be in the lead. Digital assets along with artificial intelligence are the two frontier technologies that are not just going to shape the future of the financial industry but uh the future of every industry.So we're we're really happy about this. We think and you know we we spoke about this uh last time from France that connecting crypto technology to assets that have real worl ...

Well, we've we've our clients are invested in crypto today. In fact, our clients hold more than 20% of the exchange traded product crypto ET uh crypto in the uh in the entire industry. So, they're they're invested.It's still only about 25 billion out of the 108 trillion that our clients have. So, it's still relatively small, but we our clients own a big part of the market. We also anticipate launching Bitcoin and Ether uh sometime soon so that our clients have access to that and and we think that'll be an a ...

before uh the S&P and NASDAQ notched another record high today, leading some on Wall Street to ask if we're starting to see signs of froth in the market. Our next guest says yes, but it's not the major averages telling him that. Let's bring in Jonathan Kinsky.He's the chief market technician at BTIG. Jonathan, good to see you. And what does tell you that things are getting a little extended here.Hey, Kelly. So yeah, I think on the on the topline indices, they are um certainly getting stretched as far as dur ...

Let's dive further into Netflix's ad picture now and how Gen AI could help transform it with Mountain CEO Mark Douglas. Mark, my question is when do they hire Stephen Cobear for the late night the new Netflix and late night show. I mean obviously this is where this is all going, don't you think.Yeah. Well, what the AI version of Steven Cobear or the actual Steven Cobear. Maybe a new one.Yeah, exactly. Yeah. I mean they have taken their content and they've made it very very broad and I think it's been a smar ...

Regulatory Clarity & Modernization - The U S aims to provide regulatory and legislative clarity for stablecoins to modernize the payment system [1] - This clarity is expected to further cement the dollar as the world's reserve currency by facilitating international trade through blockchain technology [1] - Providing clear rules will enable the U S to work with global partners to establish its stablecoin system as the dominant means of international electronic commerce [3] Innovation & Competition - If the U S does not provide clarity, innovation in the stablecoin space may move abroad [2] - The U S aims to prevent other countries from taking the lead in international standard setting, particularly in the realm of electronic commerce [3]

Market Concerns & Tariffs - The market's biggest concern revolves around tariffs due to the uncertainty of their endpoint and potential effects on sectors, market capitalizations, and investment styles [1][2] - The EU tariffs are significant due to the EU being a major trade partner, and the lack of a livable agreement introduces volatility [4] - Europe is considering other trade partners to offset potential losses with the US [4] - A livable agreement between the US and the EU is expected to be reached, potentially at a lower rate than the discussed 15% [5] US Exceptionalism & Economic Resilience - Oppenheimer Asset Management believes US exceptionalism remains intact due to innovation in technology [6][7] - The US is seen as the "cleanest dirty shirt" in a "hamper of dirty shirts," highlighting its relative strength compared to other countries, particularly regarding technology [7] - The US consumer remains remarkably resilient despite multiple interest rate hikes and pauses [3] - No recession is expected [3] Global Market Dynamics - International markets have outperformed the US recently, driven by lower valuations and expectations of tariff agreements [6][7] - The rest of the world feeds into globalization [7] - Technology is deeply embedded in societies, businesses, and consumers worldwide [8]

Chevron CEO Mike Wirth on Friday said the company's acquisition of Hess, which it completed this week after winning a legal dispute with Exxon Mobil, is good for the oil and gas sector and creates the "strongest upstream portfolio in the industry." ...

All right, time now to get some of our calls of the day. Why don't we start off with Eli Liy added to a catalyst driven ideal list at Morgan Stanley. Kevin, you own this one.Shares up just about 1% right now. Yeah. Well, the catalyst, Frank, is if they can deliver an oral drug.And I believe that they will. This uh this ORFO would be a gamecher 100%. If their orals are as as effective or almost as effective as the injectables, then then this is a catalyst and I couldn't agree more with the call.All right, mo ...