If there is one stock that is a barometer for the entire stock market it is Exxon Mobil Corp.(NYSE:XOM). This morning Exxon Mobil Corp. is trading lower by 0.46 cent to $60.55. If you have not noticed yet the entire stock market is slightly under pressure. Therefore, it is safe to say, “as Exxon goes so goes the stock market”. This stock carries a lot of weight in the S&P 500 Index due to the size of it’s market capitalization. Exxon Mobil Corp. has the largest market capitalization in the stock market at $310.65 billion. This stock is also a major Dow Jones Industrial Average component. Should this stock rally the stock market will often rally. Exxon Mobil Corp. will have intra-day support around the $54.80 and $54.40.
The other important energy stocks are Chevron Corp.(NYSE:CVX), and ConocoPhillips(NYSE:COP). While these stocks are very important for the energy sector they do not carry the same over strength as Exxon Mobil Corp for the stock market.
