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Stock impact report

Wall Street just sent oil stocks a brutal message after Iran's move [Yahoo! Finance]

Exxon Mobil Corporation (XOM) 
Last exxon mobil corporation earnings: 5/1 07:34 am Check Earnings Report
US:NYSE Investor Relations: ir.exxonmobil.com
Company Research Source: Yahoo! Finance
That eased fears of a major oil supply shock . The Dow rose more than 900 points, the S&P 500 climbed above 7,100 for the first time, and the Nasdaq also hit a fresh intraday high. At the same time, oil prices are now in freefall. Brent crude fell to about $88.90 a barrel and U.S. crude dropped to about $83.08. Do not confuse this as a simple relief rally Investors quickly started moving out of oil stocks and into other areas that will benefit from the rebound. That is the real story. Wall Street is now wondering if the next big winners in the market will be airlines, cruise lines, and consumer stocks. Energy stocks, on the other hand, are losing some of the edge they had during the recent rise in oil prices. Oil stocks were the clear losers If all the i's are dotted and t's are crossed, then oil stocks will emerge as the biggest losers since they are tied most closely to higher crude prices Valero Energy VLO ) was down about 7.1% on the day. APA Corp. APA ) fell about 5.9% Show less Read more
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