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SUNDAY, NOVEMBER 22, 2009
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Energy Falters; Dow Off 37

A profit warning from Chevron highlights problems in the energy sector

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(Newser) – The major stock indices finished mixed today, with the Dow trending down after Chevron issued a profit warning, the Wall Street Journal reports. Chevron was down 2.7% on news that a weak dollar and poor profits at refineries will cut into its second-quarter earnings. Exxon also fell 1.3%. The Dow dropped 36.65 points to close at 8,146.52. The Nasdaq rose 3.48, settling at 1,756.03, and the S&P 500 fell 3.55 to close at 879.13.

Traders and Specialists work the floor of the New York Stock Exchange in this undated file photo.
Traders and Specialists work the floor of the New York Stock Exchange in this undated file photo.   (AP Photo/David Karp)
Specialist Maier Tarlow, right, works at his post on the floor of the New York Stock Exchange in this undated file photo.
Specialist Maier Tarlow, right, works at his post on the floor of the New York Stock Exchange in this undated file photo.   (AP Photo/Richard Drew)
A Chevron gas station in Palo Alto, Calif. is shown Wednesday, July 8, 2009.
A Chevron gas station in Palo Alto, Calif. is shown Wednesday, July 8, 2009.   (AP Photo/Paul Sakuma)
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