Exxon (XOM.US) stock jumped more than 4% after its CEO Darren Woods reiterated the company’s commitment to its dividend. “We’re going to continue to return cash to shareholders through a very strong dividend,” Woods told CNBC today. He noted that 2020 was “certainly the worst environment” that Exxon has ever faced. The company lost more than $20 billion last year as oil prices plunged. The company’s current yield of 6.2% is among the highest in the S&P 500, making it an attractive bet for income-seeking investors. The stock is also benefiting from rising oil prices as OPEC and most of its oil-producing allies decided to maintain production output.
Exxon (XOM.US) stock has been trading in a tight ascending channel recently. If buyers will manage to uphold momentum and break above the upper limit of this formation, then the way towards the next major resistance at $67.60 will be left open. On the other hand, once sellers regain control, the support at $55.25 may be at risk. Source: xStation5
Market warp: Rate Forecasts and Semiconductors in the Spotlight
Daily Summary: Hawkish Fed fails to scare the markets (17.09.2026)
Nasdaq 100 Up 1.7%
US Open: Nasdaq, gold and silver surge following... an interest rate hike (17.09.2026)