Investors continue to think in terms of safety and conservative investments, and other than gold, the blue-chips like Exxon Mobil (NYSE:XOM) have drawn attention, and on Monday helped the Dow Jones Industrial Average and the S&P 500 from dropping even further.
The Dow ended the trading session down 39.21 points, or 0.4 percent, ending at 10,174.41, while the S&P 500 ended the day at 1,067.36, dropping 0.4 percent as well.
Exxon Mobil closed Monday at $59.50, gaining $0.61, or 1.04 percent. Their market cap remains over $300 billion, at $302.96 billion at the end of the session.
Even though gas prices seem poised to fall, a number of investors believe Exxon is undervalued, and will draw a lot more attention as the weakness of the economy becomes apparent to more people and institutions.
Showing posts with label Dow Jones Industrial Average. Show all posts
Showing posts with label Dow Jones Industrial Average. Show all posts
Tuesday, August 24, 2010
Friday, August 6, 2010
BP (NYSE:BP) Stock Prices Rise While Energy Stocks Decline
There is a sense of much relief that BP (NYSE:BP) is seeing success in their static kill attempt, causing stock prices to continue to rise. While energy stocks are on the decline.
BP's shares rose another 0.7 percent to $40.95, after the completion of the cementing of the Macondo well. After drawing a downgrade from J.P. Morgan, Transocean plummeted 3 percent to %56.34, after soaring 8 percent in the prior session.
Crude oil futures slide 1.2 percent to $80.98.
The Dow Jones Industrial Average dropped 0.7 percent. With Exxon and Chevron decreasing 0.8 percent and 0.6 percent.
The NYSE Arca Oil Index dropped 0.9 percent to 1,020. The Philadelphia Oil Service Index fell 1.4 percent to 188. The NYSE Arca Natural Gas Index also saw a decrease of 1.4 percent bringing it to 531.
BP's shares rose another 0.7 percent to $40.95, after the completion of the cementing of the Macondo well. After drawing a downgrade from J.P. Morgan, Transocean plummeted 3 percent to %56.34, after soaring 8 percent in the prior session.
Crude oil futures slide 1.2 percent to $80.98.
The Dow Jones Industrial Average dropped 0.7 percent. With Exxon and Chevron decreasing 0.8 percent and 0.6 percent.
The NYSE Arca Oil Index dropped 0.9 percent to 1,020. The Philadelphia Oil Service Index fell 1.4 percent to 188. The NYSE Arca Natural Gas Index also saw a decrease of 1.4 percent bringing it to 531.
Thursday, June 3, 2010
Stocks Rise: Exxon (NYSE:XOM), Chevron (NYSE:CVX), BP (NYSE:BP), Anadarko (NYSE:APC) All Up
Energy stocks saw a jump today, including Exxon Mobil (NYSE:XOM), Chevron (NYSE:CVX), BP (NYSE:BP), and Anadarko (NYSE:APC). Exxon rose 1.7 percent on Thursday, causing the Dow Jones Industrial Average to rise 52 points.
Chevron rose 1.5 percent. Also providing a rise is crude oil futures with the July front running contract up to $73.23, a 37 cent increase.
BP, who has lost a total market value of $68 million saw an increase. BP went to $38.33, gaining 1.8 percent. This gain could be because of BP's success in fully cutting the pipe. Now they can proceed with trying to put the cap on it. Although, it is not a clean cut which is looking like it will cause problems, potentially making the cap not fit snug. If this is the case oil would still be leaking and a secondary cap would have to be put over top of the first one.
BP is planning on funding a project to put sand barriers around the wetlands in Louisiana, this will cost BP $360 million dollars. Even though this won't fully stop the oil, as there is already a considerable amount that is continuing to devastate Louisiana, the hope of this endeavor is to keep out the worst effects from the oil.
Finally, there is Anadarko who rose 1.2 percent to $44.89. They seem quite confident because they haven't changed their projection for 2010 on capital spending plans or their production outlook.
Chevron rose 1.5 percent. Also providing a rise is crude oil futures with the July front running contract up to $73.23, a 37 cent increase.
BP, who has lost a total market value of $68 million saw an increase. BP went to $38.33, gaining 1.8 percent. This gain could be because of BP's success in fully cutting the pipe. Now they can proceed with trying to put the cap on it. Although, it is not a clean cut which is looking like it will cause problems, potentially making the cap not fit snug. If this is the case oil would still be leaking and a secondary cap would have to be put over top of the first one.
BP is planning on funding a project to put sand barriers around the wetlands in Louisiana, this will cost BP $360 million dollars. Even though this won't fully stop the oil, as there is already a considerable amount that is continuing to devastate Louisiana, the hope of this endeavor is to keep out the worst effects from the oil.
Finally, there is Anadarko who rose 1.2 percent to $44.89. They seem quite confident because they haven't changed their projection for 2010 on capital spending plans or their production outlook.
Monday, May 17, 2010
Exxon Mobil's (NYSE:XOM) Stock Continues To Fall
In German Trading, Exxon Mobil's (NYSE:XOM) stock continues to fall. With crude oil dropping below $70 a barrel in New York, this is the fifth day it has plummeted.
The biggest U.S. oil company, Exxon has dropped to $63.06 in German trading, that's a 0.8 percent loss. The third largest energy company, ConocoPhillips is at $55,32, losing 0.9 percent. The largest U.S. aluminum producer Alcoa, has also dropped to $12.14 losing 1.8 percent.
Dow Jones Industrial average dropped 0.1 percent to 10,600. Nasdaq - 100 Index futures also fell less than 0.1 percent bringing it to 1,909.5.
The euro dropped today to the lowest level in over four years against the dollar. The currency was traded for as low as $1.2235. In Brussels, the European finance ministers will meet today.
They are under pressure to show how they are planning to reduce deficits quickly enough to satisfy investors.
The biggest U.S. oil company, Exxon has dropped to $63.06 in German trading, that's a 0.8 percent loss. The third largest energy company, ConocoPhillips is at $55,32, losing 0.9 percent. The largest U.S. aluminum producer Alcoa, has also dropped to $12.14 losing 1.8 percent.
Dow Jones Industrial average dropped 0.1 percent to 10,600. Nasdaq - 100 Index futures also fell less than 0.1 percent bringing it to 1,909.5.
The euro dropped today to the lowest level in over four years against the dollar. The currency was traded for as low as $1.2235. In Brussels, the European finance ministers will meet today.
They are under pressure to show how they are planning to reduce deficits quickly enough to satisfy investors.
Monday, October 13, 2008
Oil Prices Rise on Enthusiasm, not Fundamentals
Oil prices increased by $3.49 to end the session at $81.19 a barrel for November delivery, as leaders presented a unity to the world in an effort to shore up confidence in the global marketplace. Oil basically rose on that euphoria, rather than any change in fundamentals.
Brent North Sea crude in London gained close to light sweet crude in the U.S., as it increased by $3.37 a barrel to $77.46.
Even so, the slowing demand for oil hasn't changed, and nothing, other than the possibility that the emergency meeting by OPEC next month may result in resistance to downward price pressures, will stop the price of oil from continuing to fall. They would attempt to do that by lowering production levels.
If they were to do that, there would probably be significant international pressure for them to keep production levels close to where they are.
In other financial news, the Dow Jones Industrial Average recorded its highest one-day point gain in history, gold continues to fall, and the U.S. dollar fell against many major currencies, even though an unprecedented unlimited dollar fund auction will be held by the central banks of several nations.
Brent North Sea crude in London gained close to light sweet crude in the U.S., as it increased by $3.37 a barrel to $77.46.
Even so, the slowing demand for oil hasn't changed, and nothing, other than the possibility that the emergency meeting by OPEC next month may result in resistance to downward price pressures, will stop the price of oil from continuing to fall. They would attempt to do that by lowering production levels.
If they were to do that, there would probably be significant international pressure for them to keep production levels close to where they are.
In other financial news, the Dow Jones Industrial Average recorded its highest one-day point gain in history, gold continues to fall, and the U.S. dollar fell against many major currencies, even though an unprecedented unlimited dollar fund auction will be held by the central banks of several nations.
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