We're about 2 minutes away from the end of the trading day. Scarlet Fu and Vonnie Quinn here with you and here to help take you through the closing bell. We've got a global simulcast.Tim Sandvik joins us as well as Israeli lee. We bring together our Bloomberg Television, radio and you tube audiences worldwide as we pass through the most crucial moments of the trading day. And Tim, it doesn't look like a whole lot is going on when you look at the closing numbers here in the S&P 500, little change, but it's b ...

Group 1 - Block shares increased by over 10% in extended trading as the fintech company prepares to join the S&P 500, replacing Hess [1] - The addition of Block to the S&P 500 is part of a series of changes, including The Trade Desk replacing Ansys [2][3] - Block's inclusion reflects the growing tech presence in the S&P 500, highlighting the market cap gains of tech companies [4] Group 2 - Block, formerly known as Square, has diversified into crypto, lending, and other financial services since its founding in 2009 [4] - Despite a 14% decline in shares this year, Block maintains a market cap of approximately $45 billion, significantly above the median company in the S&P 500 [5]

智通财经7月19日电，Block XYZ将被纳入标普500指数，取代石油公司Hess。 ...

标普道琼斯指数公司：Block XYZ将被纳入标普500指数，取代石油公司Hess。 ...

Exxon has benefited from a pyrrhic defeat in its effort to stop Chevron from buying Hess, argues @JavierBlas #OOTT (via @opinion) https://t.co/ck1IGyK9GK ...

Group 1 - TD Cowen raised the target price for Hess Corporation from $140 to $155 [1]

Group 1 - Hess Corporation shares increased by 4.8% to $150.23, with a higher-than-average trading volume, reflecting a 4.9% gain over the past four weeks [1] - The company has significant stakes in oil discoveries offshore Guyana and is a key partner in the ExxonMobil-led consortium in the Stabroek Block, enhancing its long-term production visibility and cash flow potential [2] - The upcoming quarterly earnings are expected to be $1.28 per share, a decrease of 51.2% year-over-year, with revenues projected at $2.67 billion, down 18.1% from the previous year [3] Group 2 - The consensus EPS estimate for Hess has been revised marginally higher in the last 30 days, indicating a potential for price appreciation [4] - Hess currently holds a Zacks Rank of 3 (Hold) within the Oil and Gas - Integrated - United States industry [5] - Calumet, Inc., another company in the same industry, has a consensus EPS estimate of -$0.42, reflecting a 12.5% year-over-year change, and also holds a Zacks Rank of 3 (Hold) [6]

Core Insights - Hess Corporation has officially exited Suriname's offshore Block 59, concluding its exploration activities after meeting minimum work obligations, with the block reverting to state control [1][9] - The exit follows the withdrawal of Hess' former partners, Exxon Mobil and Equinor, over high drilling risks and financial uncertainties [2][9] - Block 59, located in deepwater with depths of 2,700-3,500 meters, struggled to attract new partners for exploration after the exit of ExxonMobil and Equinor [3][9] Exploration Challenges - Hess avoided further financial commitments by opting out before the next exploration phase ending in July 2025, as the region has not yet shown viable production prospects [4] - Staatsolie, Suriname's state oil company, aims to reassign Block 59 as part of its strategy to maximize offshore investment, with nearly half of Suriname's offshore territory under production sharing agreements [5][6] Future Partnerships - Staatsolie is committed to securing new partnerships to explore the country's hydrocarbon potential, despite the challenges associated with ultra-deepwater exploration [6]

Group 1: Dividend Yield and Income Potential - The Dow Jones Industrial Average has a dividend yield of 1.8%, higher than the S&P 500's 1.3% and the Nasdaq-100's 0.8% [1] - Chevron stands out as a strong option for income seekers, with a current dividend yield over 4.5% [2][4] Group 2: Financial Resilience - Chevron's breakeven level is around $30 per barrel, the lowest in the industry, allowing it to generate substantial free cash flow with current crude oil prices in the mid-$60s [5] - The company produced $15 billion in free cash flow last year and has a quarterly dividend cost of $3 billion, indicating a strong financial cushion [5] - Chevron's leverage ratio was a low 14% at the end of the first quarter, well below its target range of 20%-25% [6] Group 3: Growth Initiatives - Chevron is investing heavily in high-return capital projects, including the Future Growth Project in Kazakhstan and the Ballymore project in the Gulf of Mexico [7] - The company estimates an additional $9 billion in annual free cash flow by next year, assuming a $60 oil price [8] Group 4: Acquisition and Future Outlook - Chevron is in the process of acquiring Hess for $60 billion, with a dispute over Hess' stake in a development offshore Guyana currently delaying the transaction [9] - The case is in arbitration, with a ruling expected soon, and Chevron has invested $2.2 billion to acquire nearly 5% of Hess' shares, indicating confidence in winning the case [10] - Even without the Hess acquisition, Chevron has a strong growth outlook and has increased its dividend for 38 consecutive years [11] Group 5: Conclusion on Investment Potential - Chevron's resilient portfolio and strong financial profile support its high-yielding dividend, making it an attractive investment for passive income [12]

Core Viewpoint - There is significant speculation regarding the potential acquisition of Hess Midstream by Chevron if Chevron's acquisition of Hess is successful, indicating a strategic interest in Hess Midstream's value [1] Group 1: Investment Perspective - The market is perceived to be overly focused on short-term challenges, leading to mispricing of fundamentally strong companies, which presents long-term investment opportunities [1] - The emphasis is on uncovering short-term mispricings to unlock long-term value in companies like Hess Midstream [1]