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Stocks Continue A Positive Streak, Oil Hits Three Month High (CHK, CVX)

By: , dated August 7th, 2012
Stocks on Tuesday finished positive for the third-consecutive day as investors expect more central bank stimulus to aid the economic crisis. US consumer credit was reported to have reached its weakest growth in eight months. Oil prices have risen over $94 per barrel with California suffering especially after Chevron Corp.’s (CVX) closing of its refinery in Richmand yesterday. Sirius XM Radio (SIRI) reported higher than expected revenue. Both Citigroup (C) and Pfizer (PFE) are planning on making big payments due to a valuation disagreement and an allegation settlement, respectively. At the end of the day the US dollar regained its ground after falling earlier and the euro extended its gains.

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