Why ExxonMobil, Chevron, Kinder Morgan, and Other Energy Stocks Jumped Today
The biotech said its vaccine candidate could be over 94% effective at preventing COVID-19 infections. Combined with similarly positive news from drugmakers Pfizer and BioNTech last week, the market began to look ahead to a post-pandemic economic recovery. In turn, shares of energy companies Chevron (NYSE: CVX), ExxonMobil (NYSE: XOM), and Kinder Morgan (NYSE: KMI) rose 7.1%, 5.8%, and 4.1%, respectively.