Chevron Corp CVX:NYSE

Last Price$110.08NYSE Previous Close - Last Trade as of 6:30PM ET 2/14/20

Today's Change0(0.00%)
Bid (Size)$110.10 (3)
Ask (Size)$110.27 (10)
Day Low / HighN/A - N/A
Volume5.1 M

Stocks Trade Lower After Weekend Attack on Saudi Oil Facilities, Subdued China Industrial Output Data

12:01PM ET 9/16/2019 MT Newswires
Equities were lower Monday after attacks on two major oil facilities in Saudi Arabia destroyed more than half of the output from the No. 1 exporter and industrial production in China fell to a 17-year low.

Crude-oil futures soared two days after attacks on the world's largest processor of the commodity and major oilfield in the kingdom. Saudi Aramco, the state-owned oil company that owns the facilities, has said the attacks would cut output by 5.7 million barrels a day, according to media reports.

West Texas Intermediate and international benchmark futures were each up more than 11% to $61.01 and $67.24 a barrel, respectively.

Energy shares popped more than 2.7% on the Standard & Poor's 500. Chevron (CVX) was 1.8% higher while Exxon Mobil (XOM) added 1.4%. Apache (APA) jumped more than 10%.

The rrade-sensitive materials and consumer discretionary sectors each fell more than 1% after data from China's National Bureau of Statistics earlier Monday showed industrial output in the Asian nation grew by 4.4% year-on-year in August. That's the lowest since 2002 and slower than the 4.8% growth in July as well as the 5.2% consensus compiled by Trading Economics.

Sealed Air (SEE) slid 5.2% while Corteva (CTVA) slid 3.3%. Home Depot (HD) retreated 1.1%, and Dollar Tree (DLTR) was 1.9% lower.

In company news, General Motors (GM) was down 3.3% after tens of thousands of workers represented by the Union Auto Workers union went on strike.

SemGroup (SEMG) soared nearly 64% after the pipeline operator agreed to a $5 billion cash-and-unit merger with peer Energy Transfer (ET), which was nearly 3.3% lower.

The Dow Jones Industrial Average was 0.6% lower, while the Standard & Poor's 500 fell nearly 0.5%. The Nasdaq Composite retreated more than 0.4%.