U.S. Stocks Slip as Consumers Cut Spending; Chevron Shares Tank

U.S. stocks moved lower on Friday, the last trading session of April. Fresh data showed consumer spending rose only 0.1 percent in March, compared to 0.2 percent in April. Plus, the European economy grew by 0.6 percent during first quarter, beating estimates of 0.4 percent. 'It certainly looks like the additional stimulus put in place by the ECB is starting to bear fruit,' said Brenda Kelly, head analyst at London Capital Group. Meanwhile, Exxon Mobil (XOM) - Get Report reported net income of $1.8 billion for first quarter, or $0.43 a share, beating estimates of $0.31. That's its smallest profit in 17 years. Revenue of $48.7 billion eclipsing estimates of $48.1 billion. Plus, Chevron (CVX) - Get Report shares fell after the oil giant posted a loss of $0.39, while analysts had expected a loss of $0.17. Revenue also came in below estimates, amid the slump in oil prices. TheStreet's Scott Gamm reports from Wall Street.