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Marathon Petroleum Corp. stock outperforms

Marathon Petroleum Corp.stock advanced 2.71% to $57.16 Monday. This proved to be an all-around positive trading session for the stock market, with the S&P 500 Index SPX rising 0.27% to 4,192.66 and the Dow Jones Industrial Average DJIA rising 0.70% to 34,113.23.

 Marathon Petroleum Corp. closed $2.77 short of its 52-week high ($59.93), which the company achieved on March 11th. The stock showed a mixed performance when compared to some of its competitors Monday, as Exxon Mobil Corp. XOM rose 2.76% to $58.82, Chevron Corp. CVX rose 2.39% to $105.53, and BP PLC ADR BP rose 2.11% to $25.69. Trading volume (7.1 M) eclipsed its 50-day average volume of 5.7 M.

The New York Stock Exchange is the world’s largest stock exchange by market value at over $26 trillion. It is also the leader for initial public offerings, with $82 billion raised in 2020, including six of the seven largest technology deals. 63% of SPAC proceeds in 2020 were raised on the NYSE, including the six largest transactions.

A group of state treasurers are pressuring Marathon Petroleum Corp to end a lockout at a Minnesota refinery that has left 200 union members out of work for two months. The petroleum firm has brought in out of state workers to operate its St. Paul Park refinery as it negotiates with members of the Teamsters Local 120 over new proposals by management that employees say threaten their jobs. The union says the replacement workers have not been properly trained. The company denied this claim.

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