Exxon Mobil Stock Discussion

The U.S. "Mini OPEC" warns of oversupply concerns as major U.S. refiners cut capacity. OPEC has lowered its 2024 global oil demand growth forecast by 135,000 barrels per day. In the coming weeks, they will decide whether to proceed with the planned production increase starting in October. Four major U.S. refiners, accounting for 40% of the country's gasoline and diesel capacity, are planning to cut production. Marathon Petroleum, the ...

Occidental Petroleum exceeded Q2 revenue and EPS expectations, reporting $6.88 billion in revenue and $1.03 EPS, driven by higher production in the Permian Basin and Gulf of Mexico. Following the announcement, retail sentiment soared, with Stocktwits users turning 'extremely bullish'.
The company, now 29% owned by Warren Buffett’s Berkshire Hathaway, also completed a $12 billion acquisition of CrownRock, expected t...

US Stocks:
The Dow Jones Industrial Average fell 0.6%, the S&P 500 Index fell 0.77%, and the Nasdaq fell 1.05%.
Bonds:
The yield on the 10-year US Treasury rose 9.36 basis points to 3.9755%, its highest since August 1. The 2-year US Treasury yield rose 2.83 basis points to 4.0034%.
Commodities:
WTI September crude oil futures rose $2.03, or 2.77%, to $75.23 a barrel. Brent October crude oil futures rose $1.85, or 2.42%, to $78.33 a barrel. COMEX gold futures fell 0.35% to $2,423...

Stocks:
The Dow Jones Industrial Average fell 0.12%, the S&P 500 rose 0.08%, and the Nasdaq Composite gained 0.07%.
So far, more than 40% of the S&P 500 companies have reported their results with 79% posting earnings that exceeded Wall Street expectations, according to LSEG. That compares to a five-year average earnings beat rate of 77%.
“Both 2024 and 2025 consensus EPS are holding up, with 2024 EPS tracking a typical non-recessionary year revision trend. This suggests that analys...