Chevron shuts Israel natural gas facility
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 9 October 2023
⏱️ 5 minutes
🧾️ Download transcript
Summary
Episode transcripts seekingalpha.com/wsb.
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Show Notes
Investor Movement Index slips for first time in five months
Airline flights to Israel are cut back dramatically after Hamas attack
Arm Holdings rises as JP Morgan starts with overweight rating
Transcript
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| 0:00.0 | Welcome to Seeking Office Wall Street Lunch. |
| 0:04.0 | Our afternoon update on today's market action news and analysis. |
| 0:08.0 | Good afternoon. |
| 0:10.0 | Today's Monday, October 9th, and I'm your host, Kim Khan. |
| 0:13.3 | Our top story so far. |
| 0:14.8 | Chevron says it was instructed by the Israel government to shut natural gas production at the |
| 0:19.0 | Tamar platform in the Mediterranean Sea. |
| 0:21.4 | The move comes following the weekend attack on Israel by |
| 0:23.7 | Hamas. The company said it continues to supply Israel and the region from its |
| 0:28.2 | Leviathan production platform. The Tamar feel produces 7.1 to 8.5 million cubic meters per day of natural gas. |
| 0:36.0 | Israel has ordered a complete siege of Gaza. |
| 0:39.0 | The defense minister says that we know electricity, food, or fuel delivered to the region. |
| 0:43.0 | It has also mobilized 300,000 reservists as it retaliates for the surprise offensive. |
| 0:47.8 | In today's trading, the risk-off move following the conflict continues. |
| 0:52.3 | Stocks are down with the S&P, NASDAQ, and Dow, down about half a percent. |
| 0:58.0 | James Demret, CIO at Main Street Research, says they expect short-term volatility in the stock market and |
| 1:04.0 | oil market as investors digest the heightened tensions. He notes that stocks are |
| 1:08.7 | extremely oversold in surge in bond yields and any positive news on inflation from Thursday |
| 1:13.6 | C. P. I could spark a rally in bond prices and a decline in bond yields largely |
| 1:18.2 | because bond yields overshot to the upside in recent weeks and bond yields are due for a |
| 1:22.2 | correction. The current high level of the |
| 1:24.7 | ten-year treasure yield is unsustainable given the Federal Reserve is close to or finished |
... |
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