Hi, I'm Melissa Lee with Squawk Box host Joe Kernan, and this is five things to know before the opening bell.

Chevron has prevailed in its mediation with Exxon over the Guyana oil assets.

The decision clears the way for Chevron's acquisition of Hess.

I'll look at Hess stock up 8.5% pre-market, Chevron up 3.7%.

Federal Reserve Chair Jay Powell, formally responding to questions from the white

house about renovations to the central banks dc headquarters

and a letter to the office of management and budget powell provided details

on project cost overruns

he's also batted down accusations that the renovated buildings will feature

luxury amenities

the financial times reporting the valuation of a of AI startup perplexity has risen $18 to $18 billion two months after the

company raised money at a $14 billion valuation. The paper says that after funding round closed,

new investors approached perplexity and were told they could purchase equity at the higher

valuation level.

And Amazon is laying off some staffers in its cloud computing division.

A spokesperson said the cuts were not primarily due to investments in AI, but are a result of ongoing efforts to streamline the workforce and refocus on certain priorities.

And the Commerce Department says it will impose anti-dumping duties of more than 90%

on a type of graphite imported from China and used in making electric vehicle batteries.

The government concluding the material is being sold in the U.S. at less than fair market value.

We'll be back later today with an all-news SquawkPod or daily podcast featuring the best of Squawkbox.

Check it out wherever you get your podcasts and listen anytime.