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Exxon Mobil to the Rescue

 Exxon Mobil Corp.(NYSE:XOM) is the one leading energy stock that has not sold off today. In fact, Exxon Mobil has actually staged a sharp bounce from a small gap lower open. The stock is now trading higher by 0.25 cents to $66.41. Many of you that have read our articles know that we believe Exxon Mobil is one of the leading stocks in the stock market and rarely will the stock market decline sharply when this stock is positive.

Exxon Mobil Corp. still has the largest market capitalization in the stock market at $337 billion. Therefore, when this stock catches a bid or trades higher it will help to lift the S&P 500 Index. Exxon Mobil Corp. is also a major component in the Dow Jones Industrial Average. Please remember that the Dow Jones Industrial Average is a price cap weighted index unlike the S&P 500 Index which is market cap weighted. Therefore, the higher the price of the stock the more impact it will have on the index.

As a rule it is important to always follow Exxon Mobil Corp. regardless if the overall indexes are stronger or weaker on the day. Other leading integrated energy stocks such as Chevron Corp.(NYSE:CVX), and ConocoPhillips(NYSE:COP) are important, however, they are not close to the same market capitalization and do not have the same effect of Exxon Mobil Corp. In light volume markets such as the markets that we have experienced since late August Exxon Mobil Corp. can keep the major indexes afloat single handedly. Exxon Mobil is truly a stock market barometer.