This morning, the leading energy stocks continue to lead the major stock indexes higher. Exxon Mobil Corp (NYSE:XOM) is considered the leading energy stock in the market. XOM has the second largest market capitalization behind Apple Inc (NASDAQ:AAPL) at $407 billion. The stock is also a major component of the Dow Jones Industrial Average and the S&P 500 Index. Today, XOM stock is trading higher by 0.49 cents to $88.20 a share. Short term traders can watch for intra-day resistance around the $88.60, and $89.00 levels. The daily chart of XOM stock remains in a confirmed uptrend as price is trading above the important 50, and 200-day moving averages.
Some other leading energy stocks that are trading higher today include Chevron Corporation (NYSE:CVX), ConocoPhillips (NYSE:COP), and BP plc (ADR) (NYSE:BP). All of these stocks will generally trade higher intra-day if the U.S. Dollar Index pulls back. Energy stocks like most commodities will trade inverse to the U.S. Dollar Index.
