As far as news announcements go, this one was pretty surprise-free. John Watson’s retirement announcement yesterday as Chairman of Chevron was not a surprise, and neither was his pick to lead the oil giant.
Chief Executive’s June survey of 278 U.S. CEOs shows leading confidence indicator now at 5.5/10, the lowest reading in nearly a decade. Majority forecasts worsening conditions in the year ahead, though not a recession.
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