All three of the major indices are trading markedly lower amid
broad-based declines. Only 20% of the S&P 500 components are
trading with a gain.
Energy (+1.1%) is the lone standout among the major economic sectors. The sector is receiving leadership from oil giants Exxon Mobil (+0.27), ConocoPhillips (+1.38), and Chevron (
+0.44). Exxon actually traded lower yesterday after it announced
disappointing earnings results. Chevron is trading higher, despite
announcing earnings per share results that failed to meet the consensus
estimate. One immediate difference between the two session's is
today's higher oil price, which is now up more than 3%.