US Energy Stocks Lower; Chevron Beats View, BP Is Fined

Lower oil prices and mixed economic data loomed over energy stocks on Friday, as better than expected earnings from Chevron Corp. (CVX) failed to provide much of a lift.

A weak read on spending by Americans fell 0.5% in September, in line with economists' view, while personal income remained flat.

Crude oil futures weakened on cooler expectations for economic expansion, with the benchmark contract fell 83 cents to $79.04 a barrel. The broad equities market also fell, after generous gains in the previous session.

Read Full Article from Wall Street Journal

- Posted: 2009-10-30 10:49:39

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