Wall Street's losing streak is over📈
ExxonMobil announces share repurchases.
- ExxonMobil $XOM, a significant US oil company, has announced a significant share repurchase program in anticipation of 2022's high oil and gas prices. Plans unveiled yesterday intend to return approximately $50 billion to shareholders as the corporation continues to earn record profits thanks to unpredictable oil and gas prices this year.
- With a gain of more than 60% against a background of declining markets, the company's stock has been among the best-performing of 2022. The business will invest up to $25 billion in projects that will reduce carbon emissions over the long term in the coming year.
Source: Yahoo Finance
Wall Street's losing streak is over.
- As investors sought to lock in tax gains before the year's end, Wall Street stocks climbed Tuesday, snapping a five-day losing skid. However, as investors wait for stronger-than-expected US economic data, worries continue to weigh on the markets.
Economic Data:
- Earlier today, the U.S. The Bureau of Labor Statistics released the November Producer Price Index (PPI) data. This measure revealed a 0.3% month-to-month expansion, which was greater than experts had predicted and on par with the rate for October as a whole.
Other news:
- $DOCU: As Wedbush notes that Q3 was a "big stride in the right direction," DocuSign rises.
- $CVNA: Carvana is running out of cash and on the verge of bankruptcy.
- Crypto markets up: The market was up this morning, with most of the top 10 coins seeing increases over the previous day. At the time of writing, the price of bitcoin was above $17,100.
- Rebound in oil prices: This morning, traders were buying the dip as oil prices rose after hitting a one-year low.
- Asian markets up: This morning, Asian markets were up, with the JPN225 seeing modest gains and the China50 and HKG50 both increasing by more than 1%.