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Chevron

Chevron is an integrated energy company with exploration, production, and refining operations worldwide. It is the second-largest oil company in the United States with production of 3.0 million of barrels of oil equivalent a day, including 7.7 million cubic feet a day of natural gas and 1.7 million of barrels of liquids a day. Production activities take place in North America, South America, Europe, Africa, Asia, and Australia. Its refineries are in the US and Asia for total refining capacity of 1.8 million barrels of oil a day. Proven reserves at year-end 2024 stood at 9.8 billion barrels of oil equivalent, including 5.1 billion barrels of liquids and 28.4 trillion cubic feet of natural gas.

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China mantiene su meta de crecimiento económico del 5% pese a tarifas estadounidenses y riesgos globales. Descubre más aquí.

China proyecta crecimiento del 5% en 2025 pese a tarifas de Trump y recesión

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Aquí tienes cinco acciones estadounidenses que podrían llamar la atención de los inversores este viernes: CVX, XOM, AMZN, AAPL y TWLO.

5 acciones en el foco este viernes: CVX, XOM, AMZN, AAPL y TWLO

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La guerra comercial entre EE.UU. y China derrumba el precio del petróleo WTI. Análisis y previsiones de Goldman Sachs

El petróleo WTI cae a su nivel más bajo desde 2021: ¿Cómo impactan los aranceles y la guerra comercial?

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As legendary investor Warren Buffett prepares to step down as CEO of Berkshire Hathaway Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) by <a href="https://www.benzinga.com/25/05/45184410/warren-buffett-to-step-down-as-berkshire-hathaway-ceo-by-end-of-year-asks-board-to-confirm-greg-abel-as-successor">the end of 2025</a>, a 13F filing released on Thursday reveals how his team reshaped the firm's portfolio in the first quarter.
What Happened: The 13F <a href="https://www.sec.gov/Archives/edgar/data/1067983/000095012325005701/0000950123-25-005701-index.html">filing </a>from Berkshire Hathaway Inc., showing the firm&#8217;s holdings as of March 31, reveals several stocks positioned exited completely, with no new stock purchases in the quarter.
Buffett and team exited positions in financial companies Citigroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>) and Nu Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NU#NYSE">NU</a>) completely in the quarter.
The exit of Nu Holdings stock in the quarter could be a significant storyline as the investment gave Buffett exposure to digital banks in Latin America and also gave the famous Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) skeptic <a href="https://www.benzinga.com/markets/cryptocurrency/22/05/27208096/warren-buffett-now-owns-bitcoin-heres-how-the-oracle-of-omaha-got-exposure-3" target="_blank" rel="noopener">exposure to Bitcoin.</a> Nu holds the leading cryptocurrency on its balance sheet and has several crypto platforms for investors.
Here are the top decreased <a href="https://13f.info/manager/0001067983-berkshire-hathaway-inc">stakes </a>by Berkshire Hathaway in the first quarter by percentage:
<ul class="wp-block-list">
<li>Citigroup: -100%</li>
<li>Nu Holdings: -100%</li>
<li>Formula One (NASDA:FWONK): -48%</li>
<li>T-Mobile US (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>): -11%</li>
<li>Bank of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>): -7%</li>
<li>Capital One Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>): -4%</li>
<li>DaVita Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVA#NYSE">DVA</a>): -3%</li>
<li>Charter Communications (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>): declined by less than 1%</li>
</ul>
Read Also:<a href="https://www.benzinga.com/general/education/25/05/45208955/warren-buffetts-giant-berkshire-portfolio-top-10-includes-banks-oil-and-apple"> Warren Buffett&#8217;s Giant Berkshire Portfolio: Top 10 Includes Banks, Oil, And Apple</a>
Top Additions: While Berkshire Hathaway did not make new stock purchases in the quarter, the conglomerate added to several existing positions,<a href="https://www.benzinga.com/markets/equities/24/11/41993666/warren-buffetts-berkshire-hathaway-slashes-apple-bofa-holdings-adds-dominos-pizza-in-q3"> including recent holdings</a> like Pool Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/POOL#NASDAQ">POOL</a>) and Constellation Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STZ#NYSE">STZ</a>).
Here are the top additions in the first quarter by percentage:
<ul class="wp-block-list">
<li>Pool Corporation: +145%</li>
<li>Constellation Brands: +114%</li>
<li>Heico Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HEI#NYSE">HEI</a>): +11%</li>
<li>Domino's Pizza (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DPZ#NASDAQ">DPZ</a>): +10%</li>
<li>Sirius XM Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIRI#NASDAQ">SIRI</a>): +2%</li>
<li>Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>): increased by less than 1%</li>
<li>VeriSign Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRSN#NASDAQ">VRSN</a>): increase by less than 1%</li>
</ul>
Berkshire's top five holdings remain the same in Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), American Express (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>), Coca-Cola Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), Bank of America and Chevron (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>). Of the five, only Bank of America was changed in the quarter with the decrease.
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/05/45232692/if-you-invested-1000-in-berkshire-hathaway-stock-when-warren-buffett-did-heres-how-much-youd-have-now">If You Invested $1,000 In Berkshire Hathaway Stock When Warren Buffett Did, Here&#8217;s How Much You&#8217;d Have Now</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

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Warren Buffett Ditches Bitcoin-Linked Nu Holdings, Adds To Constellation Brands, Domino's Pizza, Pool Corp Stakes

During the pre-market trading session on Thursday, Occidental Petroleum Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) fell 2.56%, Exxon Mobil Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) declined 2.39%, while Chevron Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) fell 1.50% as oil prices saw a considerable drop. This decline is attributed to the potential U.S.-Iran nuclear deal and a sudden increase in U.S. crude oil inventories, triggering concerns of oversupply.
What Happened: Oil prices plunged by more than $2, spurred by the prospects of a nuclear deal between the U.S. and Iran that could result in relaxed sanctions. At the same time, an unexpected rise in U.S. crude oil inventories last week has intensified oversupply worries. U.S. crude oil inventories rose by 3.5 million barrels to 441.8 million last week, contrary to analysts&#8217; expectations of a 1.1 million-barrel decrease, according to the Energy Information Administration, reported Reuters.
Brent crude futures fell $2.48, or 3.75%, to $63.61 a barrel, while U.S. West Texas Intermediate (WTI) crude futures dropped $2.66, or 4.18%, to $60.53 at 0920 GMT.
On Thursday, U.S. President Donald Trump announced that the U.S. was nearing a final agreement on a nuclear deal with Iran, stating that Tehran had &#8220;sort of&#8221; agreed to the terms. This came after an Iranian official told NBC News on Wednesday that Iran was prepared to make a deal with the U.S. if economic sanctions were lifted.
 John Evans, analyst at PVM Oil, stated, &#8220;The crude build in the EIA Inventory Report has chased down the prices, and the move is accelerated by what appears to be a cooling of animosity in the US/Iran nuclear negotiations.&#8221;
At the same time, the International Energy Agency raised its average oil demand growth forecast for 2025 to 740,000 barrels per day—an increase of 20,000 bpd from its previous report—citing stronger economic growth projections and lower oil prices as factors driving increased consumption.
SEE ALSO: <a href="https://benzinga.com/25/05/45427077/bitcoin-flat-ethereum-dogecoin-slip-analytics-firm-highlights-resurgence-in-btc-retail-interest-but-a-brief-pullback-might-be-close-by" target="_blank" rel="noreferrer noopener">Bitcoin Flat, Ethereum, Dogecoin Slip: Analyst Firm Sees &#8216;Significant Recovery&#8217; In Retail Interest But A Pullback Might Be Imminent &#8211; Grayscale Bitcoin Mini Trust (BTC) Common units of fractional undi</a>
Why It Matters: Earlier this month, economist Peter Schiff <a href="https://www.benzinga.com/markets/commodities/25/05/45158813/trump-may-be-getting-lower-oil-prices-but-its-not-due-to-drill-baby-drill-peter-schiff-says-its-more-of-a-chill-baby-chill-scene-out-there">stated </a>that the decline in oil prices is less about a sudden market flood and more about a warning sign for a faltering global economy. 
He argued that oil prices are dropping as global trade is stalling and recession fears are throttling demand. This context provides a broader perspective on the current oil price situation, suggesting that larger economic factors are at play. 
Notably, the International Energy Agency (IEA) raised its average oil demand forecast for 2025 but expects global oil demand growth to slow to 650,000 barrels per day for the rest of the year, down from 990,000 bpd growth seen in the first quarter, due to economic challenges and record electric vehicle sales.
<ul class="wp-block-list">
<li>READ MORE: <a href="https://benzinga.com/markets/cryptocurrency/25/05/45426516/chuck-schumer-says-trump-is-letting-cartel-members-into-the-us-asks-how-much-memecoin-did-" target="_blank" rel="noreferrer noopener">Chuck Schumer Says Trump Is &#8216;Letting Cartel Members&#8217; Into The US, Asks How Much &#8216;Memecoin&#8217; Did They Pay</a></li>
</ul>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Occidental Petroleum, ExxonMobil, Chevron Fall In Pre-Market As Oil Prices Plunge Amid Trump's US-Iran Nuclear Deal Comments

Piper Sandler analyst Ryan Todd maintains Chevron (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) with a Overweight and lowers the price target from $173 to $162.

Piper Sandler Maintains Overweight on Chevron, Lowers Price Target to $162

HSBC analyst Kim Fustier downgrades Chevron (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) from Buy to Hold and lowers the price target from $176 to $158.

Downgrades

HSBC Downgrades Chevron to Hold, Lowers Price Target to $158

Mizuho analyst Nitin Kumar maintains Chevron (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) with a Outperform and lowers the price target from $188 to $186.

Mizuho Maintains Outperform on Chevron, Lowers Price Target to $186

Rumble Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUM#NASDAQ">RUM</a>) reported first-quarter 2025 earnings, where the company highlighted significant progress in its advertising business, securing brand campaigns with major players like Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>), Crypto.com, and Chevron Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>).
What Happened: CEO Chris Pawlowski expressed optimism, stating, &#8220;While it is still very early, I can now confidently say we are starting to see traction [in advertising].&#8221; He specifically noted the successful completion of a campaign with Netflix and ongoing campaigns with Crypto.com and Chevron, spanning various media formats on the platform.
The company also reported a 34% year-over-year revenue growth, driven by audience monetization. Despite this, the platform maintained over 50 million monthly active users for the seventh consecutive quarter, with an 87% user retention rate from the previous quarter.
See Also: <a href="https://www.benzinga.com/news/earnings/25/05/45308042/monsters-ceo-we-dont-always-win-on-hedging-as-aluminum-tariffs-bite-into-q2-margins">Monster&#8217;s CEO: &#8216;We Don&#8217;t Always Win&#8217; On Hedging—As Aluminum Tariffs Bite Into Q2 Margins</a>
Why It Matters: Rumble&#8217;s Chief Financial Officer, Brandon Alexandroff, noted a 14% improvement in adjusted EBITDA loss to $22.7 million compared to the previous year, reiterating the goal of reaching EBITDA breakeven in 2025. 
Looking ahead, Rumble aims to launch its &#8220;RumbleWallet&#8221; in the third quarter of 2025, intending to compete with platforms like Coinbase in the cryptocurrency space and facilitate international monetization. The company is also exploring crypto exchange partnerships.
Price Action: Rumble&#8217;s stock closed at $7.78 on Thursday, up 2.37% for the day. In after-hours trading, the stock rose further to $7.95, gaining an additional 2.19%. Year to date, however, the stock is down 37.26%.
Rumble shows positive momentum and strong long-term price trends, but the stock lags in growth metrics and short- to medium-term performance, according to Benzinga Edge Stock Ranking. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Sign up to learn more</a>.
Photo Courtesy: Tada Images On Shutterstock.com
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/05/45308114/warner-bros-discovery-pulls-back-on-streaming-flood-betting-big-on-premium-hits-and-letting-scooby-doo-sniff-out-new-fans-on-netflix">Warner Bros. Discovery Pulling Back From &#8216;More Is Better&#8217; Streaming Strategy, Bets Big On Premium Content — And Letting Scooby-Doo Sniff Out New Fans On Netflix</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

NFLX

Rumble Touts Ad Traction With Netflix, Crypto.com, Chevron As Q1 Revenue Jumps 34%

Rep. Marjorie Taylor Greene (R-Ga.) has been actively buying stocks in 2025, including transactions that may have been perfectly timed<a href="https://www.benzinga.com/politics/25/04/44852406/marjorie-taylor-greene-brushes-off-stock-buying-criticism-says-portfolio-manager-bought-the-dip"> during a market dip.</a>
Here's the latest transactions made by the congresswoman in early May.
What Happened: Greene was ranked as the 24th best-performing member of Congress based on their trades in 2024. The Congresswoman gained 30.2% for the year, <a href="https://www.benzinga.com/25/01/42860759/10-best-stock-traders-in-congress-in-2024-where-do-nancy-pelosi-pete-sessions-susan-collins-marjorie-taylor-greene-rank">outperforming the S&amp;P 500 </a>gain of 24.9%.
With new trades placed throughout the early months of 2025, Greene could see huge returns again during the year.
Here are her most recent trades made on May 5, as shown on the <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent050725">Benzinga Government Trades page</a>. All purchases made were listed as between $1,001 to $15,000 unless otherwise indicated.
<ul>
<li>Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)</li>
<li>AbbVie (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>)</li>
<li>Adobe Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>)</li>
<li>Applied Materials (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAT#NASDAQ">AMAT</a>)</li>
<li>Advanced Micro Devices (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>)</li>
<li>Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)</li>
<li>American Express (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>)</li>
<li>Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>)</li>
<li>Bank of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>)</li>
<li>BHP Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>)</li>
<li>BP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>)</li>
<li>Berkshire Hathaway Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>)</li>
<li>Blackstone Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>)</li>
<li>Cardinal Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAH#NYSE">CAH</a>)</li>
<li>Caterpillar (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>)</li>
<li>Cummins Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMI#NYSE">CMI</a>)</li>
<li>Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>)</li>
<li>Dell Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>)</li>
<li>Digital Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DLR#NYSE">DLR</a>)</li>
<li>Duke Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DUK#NYSE">DUK</a>)</li>
<li>Devon Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>)</li>
<li>FedEx Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>)</li>
<li>Frontline PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FRO#NYSE">FRO</a>)</li>
<li>Gilead Sciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>): two separate purchases of $1,001 to $15,000</li>
<li>Corning Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLW#NYSE">GLW</a>)</li>
<li>Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)</li>
<li>Goldman Sachs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>)</li>
<li>Home Depot (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>)</li>
<li>The Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>)</li>
<li>Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>)</li>
<li>Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>)</li>
<li>JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>)</li>
<li>Kinder Morgan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>)</li>
<li>Eli Lilly And Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>)</li>
<li>MercadoLibre (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MELI#NASDAQ">MELI</a>)</li>
<li>Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)</li>
<li>Merck Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>)</li>
<li>Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>)</li>
<li>Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)</li>
<li>NextEra Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEE#NYSE">NEE</a>)</li>
<li>ServiceNow Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NASDAQ">NOW</a>)</li>
<li>Norfolk Southern (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NSC#NYSE">NSC</a>): two separate purchases of $1,001 to $15,000</li>
<li>NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)</li>
<li>Old Dominion Freight Line (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>)</li>
<li>Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>): two separate purchases of $1,001 to $15,000</li>
<li>Palo Alto Networks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PANW#NASDAQ">PANW</a>)</li>
<li>Paychex Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAYX#NASDAQ">PAYX</a>)</li>
<li>Impinj Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PI#NASDAQ">PI</a>)</li>
<li>Qualcomm Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>)</li>
<li>Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>)</li>
<li>Charles Schwab Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>)</li>
<li>Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)</li>
<li>United Parcel Service (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>)</li>
<li>Visa Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>)</li>
<li>Walmart Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>)</li>
</ul>
In total, that's more than 50 different stocks bought and disclosed by Greene in the latest filing. Based on the purchase range of $1,001 to $15,000, this would make the transaction range over $50,000 and up to more than $800,000.
Read Also: <a href="https://www.benzinga.com/politics/25/04/45077654/bill-named-after-nancy-pelosi-could-ban-congress-members-from-trading-stocks-what-you-need-to-know-about-the-pelosi-act">Bill Named After Nancy Pelosi Could Ban Congress Members From Trading Stocks: What You Need To Know About The &#8216;PELOSI&#8217; Act</a>
Why It's Important: Members of Congress are allowed to buy and sell stocks as long as they properly disclose the transaction.
The process has drawn scrutiny from the public and retail investors as members of Congress could have inside information and time their trades accordingly. Committee assignments in particular, often draw red flags from investors.
Greene serves on the House Committee on Oversight and Accountability and the House Committee on Homeland Security with several subcommittee appointments. The congresswoman's past trade in technology and cybersecurity stocks has drawn attention with her role within Homeland Security.
Greene&#8217;s past trades of Palantir Technologies and a<a href="https://www.benzinga.com/25/03/44255172/marjorie-taylor-greene-buys-more-bitcoin-etf-shares-ahead-of-trumps-strategic-reserve-executive-order"> Bitcoin ETF </a>have drawn criticism along with the timing of her trades, as she is a close ally to President Donald Trump. 
When asked previously about buying stocks earlier this year that soared days later after Trump announced a pause to tariffs, Greene<a href="https://www.benzinga.com/politics/25/04/44852406/marjorie-taylor-greene-brushes-off-stock-buying-criticism-says-portfolio-manager-bought-the-dip"> brushed aside the criticism.</a>
&#8220;I think that criticism is laughable. President Trump has been talking about tariffs for decades,&#8221; Greene told reporters when asked about the trades at a recent town hall event in Georgia in a clip <a href="https://x.com/unusual_whales/status/1912456434081480777" target="_blank" rel="noreferrer noopener">shared </a>by Unusual Whales. The congresswoman used the opportunity to boast about her stock performance, which ranked her as one of the top trading members of Congress in 2024.
&#8220;I don&#8217;t place my buys and sells," Greene said, citing an agreement she has with her portfolio manager, who handles all the buying and selling of stocks. &#8220;He did a great job. Guess what he did. He bought the dip. And that&#8217;s what anybody that has financial sense does."
Greene also said her portfolio manager did not have inside information, everything was public and a potential tariff pause wasn&#8217;t a secret.
Sen. Josh Hawley (R-Mo.) has reintroduced legislation that would ban members of Congress from trading or holding individual stocks.
The bill is known as the Preventing Elected Leaders from Owning Securities and Investments Act, or PELOSI Act based on the first letter of each of the main words. The name takes aim at the congresswoman and former Speaker of the House Nancy Pelosi (D-Calif.).  
&#8220;Members of Congress should be fighting for the people they were elected to serve — not day trading at the expense of their constituents,&#8221; Hawley&nbsp;<a href="https://www.hawley.senate.gov/hawley-reintroduces-pelosi-act-to-ban-congress-from-trading-stocks/" target="_blank" rel="noreferrer noopener">said</a>. &#8220;Americans have seen politician after politician turn a profit using information not available to the general public.&#8221;
Hawley said the bill will help &#8220;restore Americans&#8217; trust in our nation&#8217;s legislative body.&#8221;
Hawley&#8217;s bill is being reintroduced as President&nbsp;Donald Trump&nbsp;<a href="https://time.com/7280114/donald-trump-2025-interview-transcript/" target="_blank" rel="noreferrer noopener">said&nbsp;</a>he would support such a ban.
&#8220;Well, I watched Nancy Pelosi get rich through insider information, and I would be okay with it. If they send it to me, I would do it,&#8221; Trump told TIME.
Trump said he would sign the ban if the bill passes Congress.
While Pelosi makes headlines for her trades, it&#8217;s important to remember that<a href="https://www.benzinga.com/politics/25/04/44852406/marjorie-taylor-greene-brushes-off-stock-buying-criticism-says-portfolio-manager-bought-the-dip" target="_blank" rel="noreferrer noopener">&nbsp;it is both Republican</a>&nbsp;and Democratic members of Congress who are profiting from buying and selling stocks and options while in office, with some trades coming with questionable timing or having a connection to committees they serve on.
In 2024, a list of the top-performing traders in Congress included six Republicans and four Democrats.
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent050725">Get Tips On What They Bought And Sold With Our Easy-to-Use Tool</a></li>
</ul>
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent050725"><img loading="lazy" decoding="async" width="1024" height="330" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/07181256/Picture1-1-1024x330.png" alt="" class="wp-image-906796" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/07181256/Picture1-1-1024x330.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/07181256/Picture1-1-300x97.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/07181256/Picture1-1-768x248.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/07181256/Picture1-1.png 1430w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
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Marjorie Taylor Greene Goes Stock Shopping Again: Here Are 50+ Stocks The Congresswoman Bought

Financial giants have made a conspicuous bullish move on Chevron. Our analysis of options history for Chevron (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) revealed 16 unusual trades.
Delving into the details, we found 50% of traders were bullish, while 37% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $379,167, and 10 were calls, valued at $1,720,172.
<h3>Projected Price Targets</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $110.0 to $150.0 for Chevron during the past quarter. 
<h3>Insights into Volume &amp; Open Interest</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Chevron's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Chevron's significant trades, within a strike price range of $110.0 to $150.0, over the past month.
<h3>Chevron Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1746648055_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>CVX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>05/30/25</td>
<td>$1.4</td>
<td>$1.26</td>
<td>$1.3</td>
<td>$140.00</td>
<td>$650.0K</td>
<td>225</td>
<td>5.0K</td>
</tr>
<tr>
<td>CVX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$2.56</td>
<td>$2.45</td>
<td>$2.46</td>
<td>$140.00</td>
<td>$492.0K</td>
<td>3.3K</td>
<td>2.2K</td>
</tr>
<tr>
<td>CVX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$2.71</td>
<td>$2.65</td>
<td>$2.71</td>
<td>$140.00</td>
<td>$187.6K</td>
<td>3.3K</td>
<td>4.2K</td>
</tr>
<tr>
<td>CVX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/23/25</td>
<td>$2.66</td>
<td>$2.56</td>
<td>$2.56</td>
<td>$132.00</td>
<td>$161.2K</td>
<td>36</td>
<td>630</td>
</tr>
<tr>
<td>CVX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$2.71</td>
<td>$2.66</td>
<td>$2.71</td>
<td>$140.00</td>
<td>$158.8K</td>
<td>3.3K</td>
<td>4.2K</td>
</tr>
</tbody>
</table>

<h3>About Chevron</h3>
Chevron is an integrated energy company with exploration, production, and refining operations worldwide. It is the second-largest oil company in the United States with production of 3.0 million of barrels of oil equivalent a day, including 7.7 million cubic feet a day of natural gas and 1.7 million of barrels of liquids a day. Production activities take place in North America, South America, Europe, Africa, Asia, and Australia. Its refineries are in the US and Asia for total refining capacity of 1.8 million barrels of oil a day. Proven reserves at year-end 2024 stood at 9.8 billion barrels of oil equivalent, including 5.1 billion barrels of liquids and 28.4 trillion cubic feet of natural gas.
Following our analysis of the options activities associated with Chevron, we pivot to a closer look at the company's own performance.
<h3>Current Position of Chevron</h3>
<ul>
<li>Trading volume stands at 6,551,714, with CVX's price up by 0.02%, positioned at $135.63.</li>
<li>RSI indicators show the stock to be may be approaching oversold.</li>
<li>Earnings announcement expected in 86 days.</li>
</ul>
<h3>Professional Analyst Ratings for Chevron</h3>
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $151.2.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;adType=benzinga-insights&amp;ad=options-activity&amp;campaign=wallstreetadvantage">Click here for access</a>. 
&#x2A; In a cautious move, an analyst from Barclays downgraded its rating to Equal-Weight, setting a price target of $152. 
&#x2A; An analyst from Redburn Atlantic has revised its rating downward to Sell, adjusting the price target to $124. 
&#x2A; Reflecting concerns, an analyst from Scotiabank lowers its rating to Sector Perform with a new price target of $143. 
&#x2A; An analyst from Wells Fargo persists with their Overweight rating on Chevron, maintaining a target price of $173. 
&#x2A; Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Chevron, targeting a price of $164. 
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Chevron with <a href="https://www.benzinga.com/pro/">Benzinga Pro</a> for real-time alerts.

Options

Spotlight on Chevron: Analyzing the Surge in Options Activity

West Texas Intermediate crude prices rebounded sharply on Tuesday, surging more than 3.6% to $59.10 per barrel by 10:00 a.m. ET, as escalating geopolitical tensions in the Middle <a href="https://www.benzinga.com/markets/commodities">East rattled energy markets</a>.
The rally came after Israeli fighter jets launched a wave of airstrikes in Yemen, targeting Houthi-controlled infrastructure, including Sanaa International Airport, in retaliation for recent missile and drone attacks on Ben Gurion Airport that left several injured.
<h3 class="wp-block-heading">War Tensions Reverse Monday's Oil Slump</h3>
The sharp rebound in oil fully reversed Monday's losses, which had been triggered by OPEC+'s decision to increase output by 411,000 barrels per day starting in June, a move that prompted Goldman Sachs to slash<a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45198741/goldman-sachs-issues-bearish-40-oil-forecast-as-opec-pumps-more-energy-stocks-sink"> its oil price forecasts.</a>
But the latest developments out of the Middle East have shifted the narrative quickly, as traders reassess supply risk in a region crucial to global oil flows.
In a statement on social media X, the Israel Defense Forces (IDF) said it struck terrorist infrastructure used by the Iran-backed Houthi regime, including power plants and logistics hubs exploited for weapons transfers and tunnel construction. 
The IDF emphasized it took steps to mitigate harm to civilians, adding, "The IDF is determined to continue operating—at any distance—against all threats posed to the citizens of the State of Israel."
<h3 class="wp-block-heading">Energy Stocks Show Muted Response</h3>
Despite the spike in crude prices, U.S. energy stocks remained broadly flat, reflecting a degree of investor caution following Monday's rout and continued uncertainty surrounding OPEC+ policy and global demand.
The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) edged up just 0.1% following a 1.8% slump a day earlier. Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) gained 1% and Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) rose 0.2%.
Top performers within the XLE ETF included:
<ul>
<li>APA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APA#NASDAQ">APA</a>) up 1.3%</li>
<li>Occidental Petroleum Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) up 1.9%</li>
<li>ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>) up 2.2%</li>
</ul>
Read more: 
<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45220645/us-trade-deficit-soars-to-record-140b-as-imports-rocket-ahead-of-trumps-tariffs">US Trade Deficit Soars To Record $140B As Imports Rocket Ahead Of Trump&#8217;s Tariffs</a></li>
</ul>
Photo: Shutterstock

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Sector ETFs

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Oil Soars Above $59 As Middle East Airstrikes Jolt Markets

Over multiple decades, legendary investor Warren Buffett has helped produce incredible returns for conglomerate Berkshire Hathaway Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>), often times <a href="https://www.benzinga.com/general/education/25/01/42832123/warren-buffett-beats-sp-500-in-2024-how-oracle-of-omahas-returns-compare-over-past-20-years">outperforming the S&amp;P 500.</a>
With news that Buffett <a href="https://www.benzinga.com/25/05/45184410/warren-buffett-to-step-down-as-berkshire-hathaway-ceo-by-end-of-year-asks-board-to-confirm-greg-abel-as-successor">is stepping down</a> as Berkshire CEO at the end of the year, here's a look at the top 10 stock holdings of the Berkshire Hathaway portfolio.
Buffett Builds Berkshire Hathaway: Buffett has shaped Berkshire Hathaway from the <a href="https://www.benzinga.com/general/education/24/08/40652464/warren-buffett-celebrates-94th-birthday-with-1-trillion-market-cap-milestone-a-look-back-at-hig">early days of a textile maker </a>into a conglomerate that owns companies like Duracell, Dairy Queen, GEICO, Fruit of the Loom, Jazwares, Pilot Flying J and more.
Along with acquiring businesses outright, Buffett has also built a portfolio of large stakes in publicly traded companies over the years.
Here's a look at the current top 10 holdings of Berkshire Hathaway's stock portfolio, as reported by <a href="https://www.cnbc.com/berkshire-hathaway-portfolio/">CNBC</a>. The list includes the stock, the current value and percentage of the stock portfolio.
<ol>
<li>Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>): $60.1 billion, 21.8% of the portfolio</li>
<li>American Express (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>): $42.4 billion, 15.4%</li>
<li>Coca-Cola Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>): $28.7 billion, 10.4%</li>
<li>Bank of America Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>): $28.2 billion, 10.2%</li>
<li>Chevron Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>): $16.1 billion, 5.8%</li>
<li>Moody's Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCO#NYSE">MCO</a>): $11.5 billion, 4.2%</li>
<li>Occidental Petroleum Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>): $10.4 billion, 3.8%</li>
<li>Kraft Heinz Co (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>): $9.3 billion, 3.4%</li>
<li>Chubb Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>): $7.8 billion, 2.8%</li>
<li>Itochu Corporation: $7.1 billion, 2.6%</li>
</ol>
Together, the top 10 stocks in the Berkshire Hathaway represent 80.4% of the portfolio. Berkshire Hathaway owns stakes of 6% or more in each of the 10 companies, other than Apple. Berkshire owns around 2% of Apple.
Many of these stocks have been long-time holdings of Berkshire Hathaway added decades ago. Others, like Apple, have been added to the portfolio as Buffett's opinion on a stock or sector change.
Read Also: <a href="https://www.benzinga.com/news/management/25/05/45176283/warren-buffett-is-getting-richer-in-2025-and-its-not-because-of-apple-how-one-chinese-holding-is-helping">Warren Buffett Is Getting Richer In 2025 — And It&#8217;s Not Because Of Apple: How One Chinese Holding Is Helping</a>
Berkshire Hathaway Performance: Shares of Berkshire Hathaway hit new all-time highs on Friday ahead of the annual shareholders meeting, where Buffett surprised the crowd with his stepping down announcement.
On Monday, Berkshire Hathaway stock fell over 5% as investors grasped what the company could look like without Buffett and with the company reporting lower operating profit year-over-year.
Year-to-date, Berkshire Hathaway stock is up 13.2%, outperforming the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), which is down 3.4%. Berkshire Hathaway has also outperformed the S&amp;P 500 ETF over the one-year and five-year periods.
Here's a look at the year-to-date performance of the top 10 Berkshire Hathaway holdings:
<ol>
<li>Apple: -18.2%</li>
<li>American Express: -6.5%</li>
<li>Coca-Cola Co: +15.8%</li>
<li>Bank of America: -6.8%</li>
<li>Chevron Corp: -7.7%</li>
<li>Moody's Corp: -1.7%</li>
<li>Occidental Petroleum: -21.7%</li>
<li>Kraft Heinz: -7.4%</li>
<li>Chubb Ltd: +5.7%</li>
<li>Itochu: -9.7%</li>
</ol>
Of the top 10 holdings, only two are positive year-to-date in 2025, putting more pressure on the Berkshire Hathaway non-stock holdings like the insurance and energy units, which are wholly owned, to perform well during the year.
With a changing of CEO, there is a chance that the top 10 holdings in the Berkshire Hathaway stock portfolio look significantly different at this time next year. Although, many of these stocks have been outperforming the market and helping Berkshire Hathaway produce strong returns annually.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/25/04/44928468/warren-buffett-believer-in-american-companies-critical-of-tariffs-the-tooth-fairy-doesnt-pay-em">Warren Buffett, Believer In American Companies, Is Critical Of Tariffs: &#8216;The Tooth Fairy Doesn&#8217;t Pay &#8216;Em&#8217;</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Education

Warren Buffett's Giant Berkshire Portfolio: Top 10 Includes Banks, Oil, And Apple

B of A Securities analyst Jean Ann Salisbury maintained a Buy rating on Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) following mixed first-quarter <a href="https://www.benzinga.com/news/buybacks/25/05/45164086/chevron-q1-profit-drops-on-higher-costs-weak-international-margins" target="_blank" rel="noreferrer noopener">earnings reported on Friday</a>.
The oil and gas giant reported revenues&nbsp;and other income of&nbsp;$47.61&nbsp;billion, which missed the consensus of&nbsp;$48.09 billion, while adjusted EPS of $2.18 came <a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">in line with the consensus</a>.
The analyst noted that Chevron announced a decrease in its share buyback run rate to $2.5-$3 billion per quarter (from $4-4.75 billion prior) while maintaining <a target="_blank" href="https://chevroncorp.gcs-web.com/static-files/3b7ba281-e370-4a3c-842e-138d8f153f96" rel="noreferrer noopener">its </a>capital expenditure guidance.
She says the adjustment was widely anticipated and aligned with their estimates.
Salisbury writes that mounting concerns surrounding OPEC&#8217;s actions and the potential for a recession have created headwinds for the energy sector, particularly impacting production companies. 
Despite these clear macroeconomic challenges in the oil market, she expects CVX&#8217;s increasing free cash flow generation and strong financial position to make it a relatively appealing investment within this space.
RBC Capital Markets analyst Biraj Borkhataria also reiterated an Outperform rating with a price forecast of $175.
The analyst says CVX&#8217;s results and management commentary suggest a deliberate and prudent approach, a strategy that has historically benefited the company.
He adds that the decision to decrease share repurchases will likely slow the re-leveraging process.
Borkhataria further writes that the company&#8217;s balance sheet retains sufficient strength to sustain its revised, consistent buyback program throughout market cycles.
Investors can gain exposure to CVX via EA Series Trust Strive U.S. Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRLL#NYSE">DRLL</a>) and SPDR Select Sector Fund – Energy Select Sector (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>).
Price Action: CVX shares are down 1.48% at $136.45 at the last check on Monday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45198741/goldman-sachs-issues-bearish-40-oil-forecast-as-opec-pumps-more-energy-stocks-sink" target="_blank" rel="noreferrer noopener">Goldman Sachs Issues Bearish $40 Oil Forecast As OPEC+ Pumps More: Energy Stocks Sink</a></li>
</ul>
Photo: Shutterstock

Reiteration

DRLL

Analysts Still Like Chevron, Cite Strong FCF & Balance Sheet As Key Amid OPEC And Recession Fears

Crude prices fell sharply after OPEC+ surprised markets with a bigger-than-expected production hike. This prompted Goldman Sachs to slash its oil price outlook and triggered a selloff <a href="https://www.benzinga.com/topic/energy-stocks-pre-market-movers">in U.S. energy stocks.</a>
In a note shared Monday, Goldman Sachs commodity analyst Daan Struyven said the bank lowered its oil price forecast by $2 to $3, projecting Brent and WTI to average $60 and $56, respectively, for the rest of 2025, and $56 and $52 in 2026. 
"Our key conviction remains that high spare capacity and high recession risk skew the risks to oil prices to the downside despite relatively tight spot fundamentals," Struyven said. 
<h3 class="wp-block-heading">What Prompted The Oil Selloff?</h3>
West Texas Intermediate futures opened at $55.36 per barrel Sunday evening in New York before recovering slightly to $57.10 by early Monday morning.
The drop was fueled by OPEC+'s Saturday decision to increase production by 411,000 barrels per day starting in June, a level in line with Goldman's base-case scenario. 
According to the note, the move likely reflects a combination of low oil inventories due to underproduction in Venezuela and the U.S. shale patch, as well as a push to bring laggard members like Iraq and Kazakhstan back in line with output targets. 
"The new baseline size of production increases is likely 0.41mb/d (million barrels per day)," Goldman said, projecting another similar hike in July.
Reuters reported that five OPEC+ sources suggested additional 411,000 bpd increases in August, September and October could follow if compliance issues persist. Although not confirmed by official OPEC channels, the market appeared to take this guidance seriously.
<h3 class="wp-block-heading">Brent Could Slide To $40 by 2026 In Bearish Scenario</h3>
Goldman models a steep downside scenario if production continues ramping while the economy slows. 
If the 2.2 million barrels per day in cuts are fully reversed through 0.41 mb/d monthly hikes, Brent crude could drop to the high $40s by late 2026 and WTI to the mid-$40s.
In a global recession, Brent could plunge to $40 and WTI to the high $30s.
While this outcome is less likely, Goldman said, the risk profile is skewed toward the downside given ample spare capacity and the possibility of further supply increases.
Despite this bearish tilt, the bank still recommends hedging downside risk using structured options strategies. It maintains a June 2026 Brent three-way position: selling a $75 call to fund a 55/45 put spread.
<h3 class="wp-block-heading">Energy Stocks Drop As Crude Slides</h3>
The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) fell 1.3% Monday as oil stocks responded swiftly to the OPEC+ announcement.
Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) and Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) dropped 1.9% and 1.7%, respectively.
APA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APA#NASDAQ">APA</a>), ONEOK, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKE#NYSE">OKE</a>), and Occidental Petroleum Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) each fell by about 3%. 
Read now: 
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<li><a href="https://www.benzinga.com/markets/25/05/45184741/forget-the-stock-markets-tariff-turmoil-trumps-next-100-days-could-bring-a-bullish-trifecta-that-rei">Forget The Stock Market&#8217;s Tariff Turmoil. Trump&#8217;s Next 100 Days Could Bring A Bullish Trifecta That Reignites Demand, Expert Says</a></li>
</ul>
Photo: Shutterstock

Mid Cap

Small Cap

Goldman Sachs Issues Bearish $40 Oil Forecast As OPEC+ Pumps More: Energy Stocks Sink

WIIM

Shares of energy stocks are trading lower amid a drop in the price of oil. Oil fell on reports suggesting OPEC+ agreed to production increases in June.

Wells Fargo analyst Roger Read maintains Chevron (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) with a Overweight and lowers the price target from $173 to $164.

Wells Fargo Maintains Overweight on Chevron, Lowers Price Target to $164

Billionaire Warren Buffett has a long history of his Berkshire Hathaway Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>)(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) conglomerate <a href="https://www.benzinga.com/general/education/25/01/42832123/warren-buffett-beats-sp-500-in-2024-how-oracle-of-omahas-returns-compare-over-past-20-years">outperforming the S&amp;P 500,</a> which is tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>).
While many stocks are down in 2025, one of Buffett's top holdings is significantly outperforming the broader market and could help him outperform in 2025 once again.
What Happened: Buffett's investment in Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), which remains his largest stock position in Berkshire Hathaway, has <a href="https://www.benzinga.com/general/education/24/08/40652464/warren-buffett-celebrates-94th-birthday-with-1-trillion-market-cap-milestone-a-look-back-at-hig">helped produce strong returns</a> but is turning into a sore spot in 2025.
Apple stock is down 15.9% year-to-date in 2025. In fact, of the five largest stock holdings in Berkshire Hathaway, only one is positive year-to-date as shown below:
<ul>
<li>Apple Inc: -15.9%</li>
<li>American Express (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>): -7.1%</li>
<li>Coca-Cola (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>): +15.3%</li>
<li>Bank of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>): -7.3%</li>
<li>Chevron Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>): -5.3%</li>
</ul>
The Berkshire Hathaway portfolio includes positions in many stocks and one of the top performers year-to-date and over the last several years is Chinese automaker BYD Company ADR (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>).
The stock is up 49.1% year-to-date, up 69.3% over the last year and up 733.9% over the past five years. Along with beating Apple year-to-date, the five-year returns of the electric vehicle company also outpace Apple.
Buffett currently <a href="https://www.cnbc.com/berkshire-hathaway-portfolio/">owns </a>over 54 million shares of BYD valued at $2.7 billion. The stock represents around 1% of the Berkshire Hathaway portfolio with the conglomerate owning over 4% of the automaker.
While Buffett has <a href="https://www.benzinga.com/markets/equities/24/06/39481191/warren-buffets-berkshire-drops-byd-stake-despite-ev-leader-seeing-record-sales">trimmed the position</a> in BYD in recent years, he remains a key shareholder and the stock's gains are helping Berkshire Hathaway and the wealth of Buffett.
Berkshire Hathaway stock is up 19.3% year-to-date, outpacing the -3.0% performance of the SPY. Berkshire Hathaway has also outperformed the SPY on a one-year and five-year basis.
Buffett is now the sixth richest person in the world with a wealth of $166 billion, according to <a href="https://www.bloomberg.com/billionaires/?sref=TBDibEcD">Bloomberg</a>. Buffett has gained $23.6 billion in wealth and is the top gainer year-to-date among the world's billionaires.
Only three of the top 10 richest people in the world have added to their wealth in 2025, with six of the top 10 each losing $20 billion or more to their wealth totals.
Read Also: <a href="https://www.benzinga.com/25/04/44928468/warren-buffett-believer-in-american-companies-critical-of-tariffs-the-tooth-fairy-doesnt-pay-em">Warren Buffett, Believer In American Companies, Is Critical Of Tariffs: &#8216;The Tooth Fairy Doesn&#8217;t Pay &#8216;Em&#8217;</a>
Why It's Important: Buffett can thank companies like BYD that have gained in the Berkshire Hathaway stock portfolio for his increased wealth in 2025.
The growth may not be done for BYD as the company continues to expand in Europe and parts of Asia and is among the world's leaders in electric vehicle sales.
In March, BYD <a href="https://cnevpost.com/2025/04/10/automakers-share-of-china-nev-market-mar-2025/">was </a>number one in new electric vehicles sales in China, with 29.3% market share, outpacing Geely (11.2%) and Tesla (7.5%). In the first quarter of 2025, BYD had 28.8% market share for new electric vehicle sales in China.
A<a href="https://www.benzinga.com/25/04/45097773/satellite-images-put-tesla-rival-byds-hungarian-factory-capable-of-producing-200k-units-annually-in-the-spotlight"> new production facility</a> in Hungary is expected to produce 200,000 units a year and help BYD's expansion in Europe. The company is also considering another factory in the region, according to reports.
BYD sold 37,000 units in Europe in the first quarter of 2025, up from 8,500 units in the previous year.
In Japan and Australia, BYD is launching <a href="https://www.benzinga.com/news/management/25/01/42901570/warren-buffett-backed-byd-launches-australias-first-ev-under-30k-how-the-move-could-strengthen-fight-against-elon-musks-tesla">more affordable models</a> that could help expand its market share.
Future growth for BYD and continued stock gains could be important to Berkshire Hathaway continuing to outperform the S&amp;P 500 and for Buffett to grow his wealth.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/education/24/12/42734838/warren-buffetts-chilling-warning-to-employees-lose-a-shred-of-reputation-for-the-firm-and-i-will-be-ruthless">Warren Buffett&#8217;s Chilling Warning To Employees: &#8216;Lose A Shred Of Reputation For The Firm And I Will Be Ruthless&#8217;</a></li>
</ul>
Photo: Photo Agency via Shutterstock

BYDDY

Warren Buffett Is Getting Richer In 2025 — And It's Not Because Of Apple: How One Chinese Holding Is Helping

U.S. stocks advanced across the board by midday Friday, with the S&amp;P 500 eyeing its ninth consecutive day of gains—poised for the longest winning <a href="https://www.benzinga.com/markets">streak since May 2024.</a>
Risk appetite remained firm, underpinned by solid corporate earnings and a stronger-than-expected April jobs report. Nonfarm payrolls rose by 177,000, beating expectations of 130,000 and easing concerns over tariff-related hiring slowdowns.
All eleven S&amp;P 500 sectors traded in positive territory, led slightly by financials over technology. Major indexes have now fully recovered from the declines sparked on April 2, when President Donald Trump announced sweeping tariffs across trading partners.
The Nasdaq 100 climbed to levels last seen in late March, capping a strong week for tech stocks. Among the Magnificent Seven, all were on pace to close the week higher except Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), which slipped 4% as strong earnings were overshadowed by weaker sales in China.
The U.S. dollar index resumed its decline, pressured by renewed calls from President Trump for the Federal Reserve to lower interest rates ahead of next week's policy meeting.
Treasury yields surged following the upbeat jobs data, with the 10-year note jumping 10 basis points to 4.31%, easing recession concerns entering the second quarter.
In commodities, oil prices fell back to $58 per barrel despite Thursday's rally on heightened geopolitical tensions in the Middle East. Gold rebounded 0.5%, set to snap a three-day losing streak, while natural gas prices jumped 4.4% to a two-week high.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) edged up 1% to $97,500, marking its fourth straight week of gains.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,009.90</td>
<td>+1.7%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,052.42</td>
<td>+1.3%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,671.17</td>
<td>+1.2%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>41,130.34</td>
<td>+0.9%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated by 11:30 a.m. ET</figcaption></figure>
According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 1.2% to $565.03.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) rose 0.9% to $411.29.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;rallied 1.4% to $488.26.</li>
<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) soared 1.8% to $199.58.</li>
<li>The&nbsp;Financials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) outperformed, up 1.7%; the&nbsp;Consumer Staples&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) lagged, up 0.3%.</li>
</ul>
<h3 class="wp-block-heading">Friday&#8217;s Stock Movers</h3>
Stocks reacting to earnings reports included: 
<ul>
<li>Apple Inc.: down 4.0%</li>
<li>Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>): up 0.2%</li>
<li>Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>): up 0.0%</li>
<li>Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>): up 0.7%</li>
<li>Eaton Corporation plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETN#NYSE">ETN</a>): down 2.1%</li>
<li>Amgen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>): down 1.8%</li>
<li>Cigna Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CI#NYSE">CI</a>): down 0.5%</li>
<li>Arthur J. Gallagher &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AJG#NYSE">AJG</a>): up 3.5%</li>
<li>Monolithic Power Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MPWR#NASDAQ">MPWR</a>): up 4.0%</li>
<li>DexCom, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXCM#NASDAQ">DXCM</a>): up 14.2%</li>
<li>Apollo Global Management, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>): down 1.7%</li>
<li>T. Rowe Price Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TROW#NASDAQ">TROW</a>): up 3.5%</li>
<li>Cboe Global Markets, Inc. (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>): up 1.2%</li>
<li>Mettler-Toledo International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTD#NYSE">MTD</a>): up 1.4%</li>
<li>Live Nation Entertainment, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYV#NYSE">LYV</a>): up 0.1%</li>
<li>Motorola Solutions, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSI#NYSE">MSI</a>): down 6.2%</li>
<li>Airbnb, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABNB#NASDAQ">ABNB</a>): down 0.2%</li>
</ul>
Read now: 
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<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45166673/trump-pressures-fed-after-solid-jobs-cooling-inflation-lower-rates-now">Trump Pressures Fed After Solid Jobs, Cooling Inflation: &#8216;Lower Its Rate!&#8217; (CORRECTED)</a></li>
</ul>
Photo: Shutterstock

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Cryptocurrency

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Tech

ABNB

AMGN

CBOE

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DXCM

MPWR

TROW

Select Sector SPDR-Consumer Discretionary

Wall Street Eyes 9th Straight Day Of Gains, Apple Falls As Chinese Sales Disappoint: What's Driving Markets Friday?

Oil giant Chevron Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) shares are trading lower premarket on Friday after the company&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/25/05/b45161156/chevron-reports-first-quarter-2025-results" rel="noreferrer noopener">reported&nbsp;first-quarter results</a>.
Revenues&nbsp;and other income of&nbsp;$47.61&nbsp;billion&nbsp;missed the consensus of&nbsp;$48.09 billion.&nbsp;
In the&nbsp;first quarter, net oil-equivalent production remained broadly flat Y/Y at 3,353 MBOED as growth at TCO (20%), in the Permian Basin (12%), and in the Gulf of America (7%) was offset by the impacts of asset sales.
Adjusted net earnings were&nbsp;$3.8 billion, with adjusted EPS at&nbsp;$2.18 (down from&nbsp;$2.93 a year ago) in the quarter <a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">in line with the consensus.</a>
U.S. Upstream reported&nbsp;earnings of&nbsp;$1.86 billion versus $2.08 billion a year ago due to higher operating expenses, including a legal reserve, and lower liquids realizations.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/large-cap/25/04/44902787/chevron-totalenergies-fire-up-ballymore-deepwater-gulf-project-targeting-150-million-barrels-over-life" rel="noreferrer noopener">Chevron &amp; TotalEnergies Fire Up Ballymore: Deepwater Gulf Project Targeting 150 Million Barrels Over Life</a>
International upstream earnings fell&nbsp;to&nbsp;$1.90 billion&nbsp;from&nbsp;$3.16 billion&nbsp;a year ago, owing to lower liftings and weak affiliate earnings at TCO largely due to higher depreciation, depletion and amortization.
U.S. downstream earnings plunged to $103 million from $453 million a year ago, primarily due to narrower margins and legal reserves.
International downstream earnings declined to&nbsp;$222 million&nbsp;from&nbsp;$330 million&nbsp;in the prior year quarter due to decreased margins on refined product sales and a less favorable impact of foreign currency.
Operating cash flow decreased to&nbsp;$5.2 billion from&nbsp;$6.8 billion&nbsp;a year ago owing to lower earnings and tax payments related to the Canadian asset sale.
Capital expenditure stood at $3.9 billion in the first quarter of 2025, lower than $4.1 billion a year ago quarter, owing to inorganic investment in power solutions for U.S. data centers.
Chevron returned&nbsp;$6.9&nbsp;billion of cash to shareholders in the quarter, including $3.0 billion in dividends and $3.9 billion in share repurchases.
The company held cash and equivalents of&nbsp;$4.64 billion&nbsp;as of March 31.
Dividend: The company disclosed a quarterly dividend of&nbsp;$1.71&nbsp;per share, payable on June 10, to shareholders of record as of May 19, 2025.
Mike Wirth, Chevron's chairman and chief executive officer, said, "Despite changing market conditions, our resilient portfolio, strong balance sheet, and consistent focus on capital and cost discipline position us to deliver industry-leading <a target="_blank" href="https://www.benzinga.com/25/04/44943850/chevron-ceo-sees-no-sign-of-recession-at-this-point-predicts-9-billion-in-free-cash-flow-by-2026" rel="noreferrer noopener">free cash flow growth by 2026.</a>"
The company disclosed a simpler organizational structure to improve execution, aiming to cut structural costs by $2 billion-$3 billion <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">by the end of 2026</a>.
Investors can gain exposure to CVX via&nbsp;EA Series Trust Strive U.S. Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRLL#NYSE">DRLL</a>) and&nbsp;SPDR Select Sector Fund – Energy Select Sector (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>).
Price Action: CVX shares are down&nbsp;2.03%&nbsp;at&nbsp;$133.4506 premarket at the last check Friday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/05/45147266/chevron-vs-exxon-oil-giants-limp-into-q1-earnings-with-engines-stalling" target="_blank" rel="noreferrer noopener">Chevron Vs. Exxon: Oil Giants Limp Into Q1 Earnings With Engines Stalling</a></li>
</ul>
Photo by adwo via Shutterstock

Guidance

Dividends

Buybacks

Movers

Chevron Q1 Profit Drops On Higher Costs, Weak International Margins

U.S. stock futures are in the green early Friday, after another winning day for the markets in the regular session on Thursday.
What Happened: The futures markets continue to inch higher following fresh signals from China that it is open to begin trade negotiations with Washington after weeks of stonewalling.
Strong earnings performance by Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>),&nbsp;Amazon.com Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), and Airbnb Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABNB#NASDAQ">ABNB</a>), amid growing trade, tariff, and geopolitical headwinds, helped lift investor sentiments following weeks of turbulence and uncertainties.
On Friday, investors will be closely watching the earnings of Berkshire Hathaway Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>), Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>), and Apollo Global Management Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>), among several others.
U.S. 10-Year Treasuries are at 4.20%, while the 2-Year Treasuries are at 3.69%. The CME Group's FedWatch&nbsp;<a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html" target="_blank" rel="noreferrer noopener">tool</a>&nbsp;shows the markets pricing a 93.2% likelihood of interest rates remaining unchanged during the FOMC meeting that is scheduled to take place the first week of May, which marks a decrease from 95% on Thursday.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td class="has-text-align-center" data-align="center">Futures</td>
<td class="has-text-align-center" data-align="center">Change (+/-)</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">Dow Jones</td>
<td class="has-text-align-center" data-align="center">0.54%</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">S&amp;P 500</td>
<td class="has-text-align-center" data-align="center">0.50%</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">Nasdaq 100</td>
<td class="has-text-align-center" data-align="center">0.34%</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">Russell 2000</td>
<td class="has-text-align-center" data-align="center">1.01%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> The&nbsp;SPDR S&amp;P 500 Trust ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was up 0.71% on Monday, while the&nbsp;Invesco QQQ Trust&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which tracks the Nasdaq-100 Index, was up 1.31%, according to&nbsp;<a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;138z7gr&#x2A;_gcl_au&#x2A;MjA5Njc0MjY1My4xNzQwODM2NTUw&#x2A;_ga&#x2A;R1MxLjEuMTc0NDY0ODA3Mi4yLjAuMTc0NDY0ODA3NS4wLjAuMA..&#x2A;_ga_V7ZK73W7N0&#x2A;MTc0NTgyOTMzMy4xLjEuMTc0NTgyOTYyMy4wLjAuMA..">Benzinga Pro</a>&nbsp;data. Cues From Last Session: The markets were upbeat on Thursday, with most S&amp;P 500 sectors in the green, with tech and consumer discretionary sectors leading the charge. Healthcare, however, witnessed a steep decline, down 2.73% during the day, owing to the 11.66% pullback in Eli Lilly And Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>), following its first quarter earnings. The S&amp;P 500 itself was up 0.63% during the day, closing at 5,604.14, followed by the Nasdaq Composite at 17,710.74, up 1.52%, the Dow Jones Industrial Average at 40,752.96, up 0.21%, and the small-cap gauge, Russell 2000, which was up 0.60%, closing at 1,975.86. Initial jobless claims at 241,000 came in significantly higher than the median forecast of 225,000, which soured sentiments during the day. As of Thursday, the Nasdaq 100 index was down 10.96% from its previous high of 22,222.61 points. The S&amp;P 500 index was 8.83% lower, as compared to the last record high of 6,147.43 points. On the other hand, Dow Jones was down 9.58% from its 52-week high of 45,073.63 points.</figcaption></figure>
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td class="has-text-align-center" data-align="center">Index</td>
<td class="has-text-align-center" data-align="center">Performance (+/-)</td>
<td class="has-text-align-center" data-align="center">Value</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">Nasdaq Composite</td>
<td class="has-text-align-center" data-align="center">1.52%</td>
<td class="has-text-align-center" data-align="center">17,710.74</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">S&amp;P 500</td>
<td class="has-text-align-center" data-align="center">0.63%</td>
<td class="has-text-align-center" data-align="center">5,604.14</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">Dow Jones</td>
<td class="has-text-align-center" data-align="center">0.21%</td>
<td class="has-text-align-center" data-align="center">40,752.96</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">Russell 2000</td>
<td class="has-text-align-center" data-align="center">0.60%</td>
<td class="has-text-align-center" data-align="center">1,975.86</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
According to analyst Seth Golden, a chief market strategist at the Finom Group, the S&amp;P 500 having retraced 50% of the bear market at closing on Thursday, points towards the markets going to their all-time high.
Golden says, &#8220;Since 1956, when this occurred, the index went on to all-time highs and was higher 12 months forward 100% of the time.&#8221; 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It&#39;s official &#x2705; S&amp;P 500 has retraced 50% of the bear market on closing basis. Since 1956, when this occurred, the index went on to all-time highs and was higher 12 months forward 100% of the time! Only time the low was not in was 2022 (Jackson Hole &quot;more pain to come&quot;)<a href="https://twitter.com/search?q=%24SPX&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SPX</a>… <a href="https://t.co/CeiiVqmdks">pic.twitter.com/CeiiVqmdks</a>
&mdash; Seth Golden (@SethCL) <a href="https://twitter.com/SethCL/status/1918106892418580919?ref_src=twsrc%5Etfw">May 2, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The only time this didn&#8217;t happen, says Golden, was in 2022, when Fed Chair Jerome Powell made his infamous &#8220;more pain to come&#8221; speech, leading to steeper declines in the market.
Upcoming Economic Data:
<ul>
<li>U.S. Non-Farm Payrolls, U.S. Unemployment Rate, U.S. Hourly Wages, and Hourly Wages Year-Over-Year are all set to be announced by 8:30 AM ET on Friday. </li>
<li>Factory Orders report for March is scheduled to be announced by 10 AM ET.</li>
</ul>
Stocks In Focus:
<ul>
<li>Berkshire Hathaway Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) is set to release its earnings on Friday, and while there is no clarity on the timing of the announcement, the stock is up 1.12% pre-market. Analysts expect the company to report $4.72 per share in earnings, on $81.59 billion in revenue. </li>
<li>Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) will be releasing its earnings at 9:30 AM, with analysts expecting $1.73 per share earnings, on $86.1 billion in revenue. The stock is up 0.87% pre-market. </li>
<li>Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) is scheduled to announce its first quarter earnings by 11:00 AM, with consensus estimates pegging its earnings at $2.15 per share, on $48.4 billion in revenue. The stock is up 0.66% pre-market. </li>
<li>The Cigna Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CI#NYSE">CI</a>) will be releasing its first quarter earnings before markets open at 8:30 AM, with the stock trading up 1.16% pre-market. Analysts expect $6.35 earnings per share, on $60.4 billion in revenue. </li>
<li>Apollo Global Management Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>) is up 1.23% pre-market, with the company expected to release its first quarter earnings before markets open at 8:30 AM. Analysts expect $1.84 in earnings, on $964 million in revenue.</li>
</ul>
Commodities, Gold And Global Equity Markets:
Crude oil futures are down for the day by 0.65%, trading at $58.87 per barrel, amid growing concerns of a recession and oversupply.
Gold Spot US Dollar has finally broken free from its losing streak, and is up 1.31% on Friday, trading at $3,259.42 per ounce, which is still considerably lower than $3,500.33 per ounce last week. The U.S. Dollar Index is down 0.48%, trading at 99.7175 at the time of writing.
All Asian, Australian, and New Zealand markets are in the green on Friday, barring China&#8217;s Shanghai Index which is marginally lower. 
Image via Shutterstock

General

US Futures Rise As Apple, Amazon, Airbnb Earnings Boost Market Sentiment: S&P 500 Hits Milestone That's Preceded A 100% Win Rate Since 1956, Says Expert

CORRECTION: Chevron Q1 Net Oil-Equivalent Production 3,353 MBOED (+1% YoY)

Chevron (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) reported quarterly earnings of $2.18 per share which met the analyst consensus estimate. This is a 25.6 percent decrease over earnings of $2.93 per share from the same period last year. The company reported quarterly sales of $47.61 billion which missed the analyst consensus estimate of $48.09 billion by 0.99 percent. This is a 2.27 percent decrease over sales of $48.72 billion the same period last year.

Earnings Misses

Chevron Q1 Adj. EPS $2.18, Inline, Sales $47.61B Miss $48.09B Estimate

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Chevron Reports First Quarter 2025 Results

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