Chevron Corporation (CVX), Exxon Mobil Corporation (XOM): GDP Surprise and Positive Jobs Numbers Send Stocks Higher

Shares of both companies were leading all Dow Jones Industrial Average (INDEXDJX:^DJI) components just two days ago when we realized that U.S. intervention in the Syrian civil war was quite likely. Although Syria is not a major player in Middle Eastern oil-production, the threat of military action and increased conflict in the region sent the price of oil higher, and thus the shares of the oil companies followed suit. But now that it seems a strike by U.S. or allied forces would be a short-lived event, the price of oil is backing down, and so are the share prices of the major oil players. Chevron Corporation (NYSE:CVX) is down 0.5%, while Exxon Mobil Corporation (NYSE:XOM) has lost 1.3%.

The article GDP Surprise and Positive Jobs Numbers Send Stocks Higher originally appeared on Fool.com and is written by Matt Thalman.

Fool contributor Matt Thalman has no position in any stocks mentioned. Check back Monday through Friday as Matt explains what caused the Dow’s winners and losers of the day, and every Saturday for a weekly recap. Follow Matt on Twitter @mthalman5513. The Motley Fool recommends Chevron, Coca-Cola, and McDonald’s. The Motley Fool owns shares of McDonald’s.

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