Wednesday, November 29, 2006

not to worry

Stocks gain as Exxon's rise drowns out Bernanke
NEW YORK (Reuters) - U.S. stocks rose modestly on Tuesday as energy shares advanced on higher oil prices and overshadowed a warning on inflation from Federal Reserve Chairman Ben Bernanke.
Shares of Exxon Mobil Corp., the biggest publicly traded oil company, rose 2.3 percent, or $1.69, to $74.16 as the price of U.S. crude oil advanced 1.1 percent on forecasts of colder weather in the United States.

Whew! What an unexpected boon...

Never mind encroaching inflation, because, er, energy profits are bullish!

And here I thought monetary inflation and increased profits for Big Energy were views of the same donkey from different ends.


2 Comments:

At 4:23 PM, November 29, 2006, Blogger Phila said...

Never mind encroaching inflation, because, er, energy profits are bullish!

Hooray...we're all gonna be rich!

 
At 1:44 AM, December 01, 2006, Blogger monkeygrinder said...

I feel the urge to print up some Monkey Reserve Notes, redeemable for a barrel of fun...

 

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