This morning, all of the leading integrated energy stocks are coming under selling pressure along with the major stock indexes. The energy sector accounts for nearly 15.0 percent of the S&P 500 Index, therefore, this index is extremely important as it holds a lot of weight in the market.
Exxon Mobil Corp (NYSE:XOM) is the largest leading energy stock in the market. XOM stock is declining lower today by $1.09 to $80.26 a share. Traders and investors should always follow this energy giant as it has the largest market capitalization in the stock market at $384 billion. XOM stock will have short term intra-day support around the $79.85 area.
Other leading integrated energy stocks that are trading lower this morning include ConocoPhillips (NYSE:COP), and Chevron Corp (NYSE:CVX). Often these leading stocks will find support and bounce higher when the U.S. Dollar Index declines and pulls back intra-day. Therefore, all traders should follow the U.S. Dollar Index very closely when trading the integrated energy stocks.
Nicholas Santiago
InTheMoneyStocks.com
