Why Investors Were Upbeat About Chevron Stock on Tuesday
Investors concerned about relatively weak oil prices got a boost Tuesday from comments by Chevron (NYSE: CVX) CEO Mike Wirth. Making rather bullish statements about both the energy business and the broader macroeconomy, the Chevron leader managed to reassure investors about the company's current state.Investors were bullish on Chevron's future, as the stock closed up by almost 3%.In an interview with CNBC, Wirth stated emphatically that the economy is not in danger. This, despite widespread fears of a recession being triggered by the current, at times bitter, trade disputes between the U.S. and a clutch of its key trading partners. Continue reading
Investors concerned about relatively weak oil prices got a boost Tuesday from comments by Chevron (NYSE: CVX) CEO Mike Wirth. Making rather bullish statements about both the energy business and the broader macroeconomy, the Chevron leader managed to reassure investors about the company's current state.
Investors were bullish on Chevron's future, as the stock closed up by almost 3%.
In an interview with CNBC, Wirth stated emphatically that the economy is not in danger. This, despite widespread fears of a recession being triggered by the current, at times bitter, trade disputes between the U.S. and a clutch of its key trading partners.