Opening Bell: U.S. Stocks Dip as Oil Falls; Exxon Mobil Revenue Sinks

U.S. stocks kicked off Tuesday’s session to the downside as declines in oil fanned fears of a global recession. The price for West Texas Intermediate fell roughly 3 percent, moving back towards $30 a barrel as hopes fade for a deal to cut production between OPEC countries and Russia. The slide in crude prices took a significant toll on fourth quarter earnings from Exxon Mobil (XOM). The oil giant posted earnings of $0.67 a share, four cents ahead of estimates. Revenue stood at $59.8 billion, which eclipsed forecasts, but was a far cry from the $87 billion in sales from the same quarter last year. Finally, some good news for frequent travelers on American Airlines (AAL). The world's largest carrier will add free snacks in economy class, after ditching the perk back in 2003. In December, United Continental (UAL) announced it was going to offer snacks on select United Airlines flights in economy. TheStreet’s Scott Gamm reports from Wall Street.