Chevron buys Hess for $50 billion

Chevron (CVX) agrees to acquire Hess (HES) in an all-stock deal. (0:15) The 10-year Treasury yield tops 5% for the first time since '07. (1:21) Morgan Stanley (MS) slammed as purposeless in downgrade. (3:29)

Episode transcripts seekingalpha.com/wsb.
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Show Notes
Healthcare, materials, real estate, and energy overweight by Jefferies
Bill Ackman pulls the plug on bond short position
Hollywood strike: Actors, studios to resume negotiations