Chevron Climbs 10.8% in March as Energy Sector Lags on Quarter End
Chevron shares rose 10.8% in March, the only sector gainer as consumer staples fell 9% and materials dropped over 6%. On March 31 energy stocks underperformed, with Chevron lagging while the Nasdaq Composite gained nearly 4%.
1. Chevron's March Outperformance
Chevron shares gained 10.8% in March, making energy the only sector to post a positive return in a month where consumer staples fell 9% and materials declined over 6%. This strong monthly move underscored Chevron’s resilience amid broad sector weakness in Q1.
2. Final-Day Sector Reversal
On the last trading day of the quarter, energy stocks underperformed as mechanical reversals and short-covering boosted tech shares, driving the Nasdaq Composite up nearly 4% and the S&P 500 up 3%. Chevron trailed that rally, reflecting profit-taking after its monthly advance.