Energy Stocks Retreat
The energy sector is leading this morning's decline in the the major stock market indexes. The decline is being lead by Exxon Mobil Corp.(NYSE:XOM) which is declining lower by $1.63 to $83.29 a share. Yesterday, it was the Exxon Mobil stock that lead the rally in the energy sector and today this market leading stock could be staging a complete reversal day on the charts. Exxon Mobil Corp. has the largest market capitalization at over $400 billion, therefore, this is the leading stock in the entire stock market.
Other leading energy stocks that are declining sharply lower today are Chevron Corp.(NYSE:CVX), and ConocoPhillips(NYSE:COP). Leading oil refiners which have been surging to new 52 week highs recently are also retreating this morning. TesoroCorp.(NYSE:TSO), Valero Energy Corp.(NYSE:VLO), and Sunoco Inc.(NYSE:SUN) are all under selling pressure this morning.