Exxon is now worth more then all of the Financials in the KBW Bank Index.
Is Exxon Mobil Corp. really more valuable than Bank of America Corp., Citigroup Inc., JPMorgan Chase & Co. and 21 more of the largest U.S. financial companies combined? Yes, according to stock investors. The CHART OF THE DAY shows the total market capitalization of the KBW Bank Index’s two dozen stocks dropped below the value of Exxon Mobil, the world’s largest oil company, during the past week, according to data compiled by Bloomberg. . . . Companies in the KBW index have lost about $1 trillion in market value since February 2007, when it climbed to a record 121.06.