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Occidental Petroleum Corporatio (OXY) Stock Forecasts

AllMarket Update

Argus•December 05, 2023
Sector(s)

Energy, Technology, Consumer Cyclical

Summary

Stocks were mixed on Tuesday morning following new employment and service sector data. In its monthly JOLTS survey, the Labor Department said that job openings fell to 8.73 million on the last day of October, down from 9.35 million a month earlier and below the Reuters consensus forecast of 9.3 million. Services data was stronger than expected. The Institute for Supply Management said that its non-manufacturing PMI rose to 52.7 in November from 51.8 in October and also topped the consensus forecast of 52.0. CVS shares rose 4% after the company issued strong 2024 sales guidance and raised its dividend by 10%. The Dow fell 0.3%, the S&P rose 0.1%, and the Nasdaq rose 0.6%. Crude oil rose to $73.50 per barrel, while gold fell $12 to trade near $2031 per ounce.

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