Stocks and commodities fell sharply Friday amid anxiety that China will hike interest rates to keep its economy from overheating. The Dow flirted with a triple-digit loss. Gold and oil prices likewise plunged.
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Earlier Friday in London trading, shares of BP gained on rumors the largest oil company in the world, Exxon Mobil, is considering a bid for the oil company responsible for the largest oil spill in the U.S., Reuters reported.
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Higher demand for petroleum and chemical products, increased oil and gas production and better refining margins helped boost Exxon’s third-quarter earnings. The company beat analysts’ profit expectations, but missed Wall Street…
The oil behemoth reported a third-quarter profit of $7.4 billion due to higher crude oil and natural gas realizations, improved refining margins, and solid chemical results. But Exxon’s results are still nearly halfway below t…
Dozens of companies report earnings this week, and analysts surveyed by Thomson Reuters are anticipating lots of strong quarterly reports. Among those posting improved results should be Microsoft and Visa. However, likely to p…