Chevron has scored a critical ruling in Paris that has given it the go-ahead for a $53 billion acquisition of Hess and access to one of the biggest oil finds of the decade.

Chevron completed its purchase of Hess after prevailing in a legal dispute with Exxon over one of the most promising oil projects in the world.

The S&P 500 and Nasdaq reached new highs thanks to robust economic data and high earnings. Despite Netflix's revenue boost, its shares dropped. Cryptocurrency stocks climbed as legislation passed. Chevron acquired Hess after a court victory over Exxon.

Hess Midstream offers stable returns via a fee-based model and Hess Corp partnership, but risks like concentration and debt loom. See more on HESM here.

Hess Corporation is expected to announce its fiscal second-quarter earnings later this month, and analysts project a double-digit earnings drop.