More Profits equals higher markets
Wednesday predictions are that Sprint Nextel and TimeWarner are both expected to announce profits of around $.22/share. This is great news as once again the US markets saw a tremendous gain on Tuesday. Part of the gain today was with the News Corp. bid of $5 billion for Dow Jones and Co. Also giving a rise to the markets was better than expected news from the US manufacturing sector, which showed higher than predicted growth in April. Despite high oil prices, the economy is still chugging along at a pace fast enough to produce profits, but slow enough to keep the fed from raising rates. Look for Wednesday to be another major day for the US Markets.
darksat wrote:
At least the oil companies are doing well.
Exxon Mobil earned nearly $10 billion last quarter.
They could probably afford to pay for the war instead of the taxpayer.
Posted 03 May 2007 at 12:09 am ¶
High Yield Investments wrote:
True, they did earn a huge profit. But their profit margin was lower than the average business, since they had more expenses. The problem with the oil market is that it has never been affected by inflation, whereas everything else has.
Posted 03 May 2007 at 12:55 am ¶