Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link. The Dow Jones Industrial Average ( ^DJI) is trading down 126.0 points (-0.8%) at 15,007 as of Thursday, Oct 3, 2013, 10:30 a.m. ET. During this time, 73.2 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 364.4 million. The NYSE advances/declines ratio sits at 550 issues advancing vs. 2,250 declining with 122 unchanged.
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Holding back the Dow today is Chevron (NYSE: CVX), which is lagging the broader Dow index with a $1.39 decline (-1.1%) bringing the stock to $119.44. This single loss is lowering the Dow Jones Industrial Average by 10.52 points or roughly accounting for 8.3% of the Dow's overall loss. Volume for Chevron currently sits at 1.6 million shares traded vs. an average daily trading volume of five million shares. Chevron has a market cap of $240.52 billion and is part of the basic materials sector and energy industry. Shares are up 15.1% year to date as of Wednesday's close. The stock's dividend yield sits at 3.2%. Chevron Corporation, through its subsidiaries, engages in petroleum, chemicals, mining, power generation, and energy operations worldwide. The company operates in two segments, Upstream and Downstream. TheStreet Ratings rates Chevron as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share.