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Big oil is back: Chevron, BP, Exxon announce $45B in new drilling

Stocks (^DJI^GSPC^IXIC) are rallying strongly after a huge payrolls beat of 287,000 for June.  Financials (XLF) are leading, with utilities (XLU) in the red. Stephen Guilfoyle, managing director of floor operations for Deep Value Execution Services, joins us live from the New York Stock Exchange.

To discuss the other big stories of the day, Nicole Sinclair is joined by Yahoo Finance’s Seana Smith and Thomson Reuters correspondent Bobbi Rebell, author of “How to be a Financial Grownup.”

Big oil is making a comeback
After slashing over a trillion dollars in costs amid plunging crude costs, Chevron (CVX), BP (BP) and Exxon (XOM) are now collectively investing an additional $45 billion to expand existing drilling projects. Does this signal the worst is over for oil companies?

Uber is wheelin’ and dealin’
Uber is finding some new, unorthodox ways to fuel its booming business. Uber hired four banks, Morgan Stanley, Barclays, Citigroup, and Goldman Sachs, to issue debt of up to $2 billion with a yield of 4% to 4.5%. What’s behind this and what does it say for the company?

Facebook launches OpenCellular
Even with more than a billion active users, Facebook (FB) doesn’t have any plans to slow down. The social network has launched a new open-source wireless access platform called OpenCellular. How much will this help their global reach?