On Monday, Chevron (CVX) shares irrationally rallied on the hope that it would benefit from Venezuelan oil exports. Unfortunately, the operational details of accomplishing that feat spooked investors. CVX stock fell the most at a pace not seen since last April 2025. It gave up nearly all of the Venezuela-inspired gains.
Chevron is responsible for nearly one-fifth of Venezuela’s crude oil production. However, it will need billions of dollars in capital expenditures to develop its business in the region. When oil prices are so weak, executives may have second thoughts about proceeding with the investment.
In the insurance sector, AIG dropped by 7.48%. CEO Peter Zaffino plans to resign by mid-2026. Eric Andersen will join AIG as president and CEO-elect, effective February 16. Investors who want exposure in this space might consider Hartford Insurance (HIG) or Allstate (ALL).
Johnson Controls (JCI) dropped by 6.24% to close at $113.95. By comparison, its peers like Carrier Global (CARR), Trane Technologies (TT), and Daikin Industries (DKILY) did not fall as much. The stock indicated a bearish “double top” pattern at around $124. Shares likely dropped after Nvidia (NVDA) CEO Jensen Huang said that its upcoming chip might not demand as much cooling in data centers.
Nvidia’s Vera Rubin platform is a next-gen chip that is in full production. The company will likely showcase the chip later this year.
