Chevron Corp CVX:NYSE

Last Price$116.61NYSE Previous Close - Last Trade as of 6:30PM ET 10/21/19

Today's Change+1.87(1.63%)
Bid (Size)$114.69 (1)
Ask (Size)N/A (N/A)
Day Low / High$115.55 - 116.75
Volume4.2 M

Stocks End Lower as Oil Prices Soar After Attack on Saudi Oil Facilities, Weak China Economic Data

4:33PM ET 9/16/2019 MT Newswires
Equities fell Monday as oil prices soared after two major oil facilities in Saudi Arabia were attacked over the weekend and industrial production in China fell to a 17-year low.

Saudi Aramco, the state-owned oil company that owns the facilities, has said the attacks on Saturday would cut output by 5.7 million barrels a day, according to media reports.

West Texas Intermediate and international benchmark Brent crude futures each jumped about 13% to $61.98 and $68.12 a barrel, respectively.

Energy shares popped almost 3.3% as eight of the 11 Standard & Poor's 500 sectors ended lower. Chevron (CVX) rose 2.2%, and Exxon Mobil (XOM) gained 1.5%. Apache (APA) jumped nearly 17%

The trade-sensitive materials sector fell 1.6% as 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.

Freeport-McMoRan (FCX) ended 2.7% lower while Sealed Air (SEE) lost 4.9%. PPG Industries (PPG) fell 3.4%.

Consumer staples fell nearly 1% as Procter & Gamble (PG) fell 1.9% while Walgreens Boots Alliance (WBA) lost 1.2%. Colgate-Palmolive (CL) ended 1.8% lower.

In corporate news, General Motors (GM) lost 4.3% after tens of thousands of workers represented by the United Auto Workers union went on strike.

SemGroup (SEMG) soared nearly 61% after the pipeline operator agreed to a $5 billion cash-and-unit merger with peer Energy Transfer (ET), which lost 4.2%.

Alder Biopharmaceutials (ALDR) jumped nearly 84% after agreeing to be acquired by Denmark-based Lundbeck for nearly $2 billion in cash.

The Dow Jones Industrial Average ended 0.5% lower while the S&P 500 slid 0.3%. The Nasdaq Composite ended down almost 0.3%.