Activist investor Engine No. 1 spent roughly $12.5 million to win three board seats at Exxon Mobil Corp, less than half its original budget, for the year’s biggest and most closely watched corporate contest, people familiar with the number said. Source: Industry Insights

Futures tracking the blue-chip Dow edged higher on Tuesday as shares of big U.S. banks rose, while investors looked to consumer confidence data against the backdrop of rising inflation and a spike in new COVID-19 cases across Asia. Source: Industry Insights

Energy stocks declined sharply this afternoon, with the NYSE Energy Sector Index falling 3.2% while the SPDR Energy Select Sector ETF retreating 3.5%. The Philadelphia Oil-Service Sector index was posting a 4.8% decline although the Dow Jones US Utilities Index was rising 0.4%. Source: Industry Insights

Japan’s benchmark Nikkei index ended flat on Monday, weighed down by chip-related stocks tracking a muted Nasdaq trade in the previous session, while investors were also cautious ahead of key U.S. economic data due later this week. Source: Industry Insights

U.S. refining capacity last year fell 4.5% to 18.13 million barrels per day (bpd) from a record 18.98 million bpd a year earlier, the U.S. government reported on Friday, reflecting weak demand for motor fuels during the COVID-19 pandemic. Source: Industry Insights

The U.S. Federal Trade Commission on Friday ordered 7-Eleven to sell over 200 retail outlets following its $21 billion acquisition of the Speedway fuel chain from Marathon Petroleum. Source: Industry Insights

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Leslie’s Inc (Symbol: LESL), where a total volume of 13,839 contracts has been traded thus far today, a contract volume which is representative of approximately Source: Industry Insights

The S&P 500 was set to open near a record high on Monday as focus shifted to the Federal Reserve’s meeting this week, where the central bank is expected to maintain its accommodative stance on monetary policy. Source: Industry Insights

S&P 500 futures hit a record high on Monday as focus shifted to the Federal Reserve’s meeting this week, where the central bank is expected to maintain its accommodative stance on monetary policy. Source: Industry Insights

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, ‘The possibility of permanent loss is the risk I worry about… and every practical investor I know worries about.’ It’s only natural to consider a company’s balance sheet when you Source: Industry Insights