Independent, Fee-Only Financial Advisor
Tuesday, February 15, 2011
Stocks fell today after the latest round of economic data added to investors' inflation worries. The Dow Jones Industrial Average dropped .34%, its biggest one-day decline since January 28. Exxon Mobil led the Dow's decline with a drop of $1.94. The oil giant said it added 3.5 million barrels of oil equivalent, led by natural-gas projects, to its proved reserves last year, replacing more than 200% of its production for 2010. Because the report showed Exxon finding far less oil than natural gas, it was seen as a sign that the company could be heading towards a less profitable business model. DJIA -41.55 Nasdaq -12.83 S&P 500 -4.31.