Posted on 02/10/2006 1:03:10 PM PST by SF Republican
NEW YORK (Reuters) - U.S. stocks edged higher on Friday after strong earnings from companies including insurance broker Aon Corp. helped sentiment and the government reported a surprisingly big budget surplus for January.
However sliding crude oil prices prompted investors to sell energy companies' shares, while Pfizer Inc.'s stock dropped on a disappointing outlook.
Aon shares rose nearly 10 percent to $38.30 on the New York Stock Exchange after the world's second-largest insurance broker reported late Thursday that fourth-quarter profit almost tripled.
Exxon Mobil Corp.'s stock, meanwhile, was off 0.3 percent at $59.72. NYMEX March crude fell 78 cents to $61.84 a barrel. Exxon Mobil was the second-biggest weight on the broad Standard & Poor's 500 Index.
The Dow Jones industrial average <.DJI> was up 32.26 points, or 0.30 percent, at 10,915.61. The Standard & Poor's 500 Index <.SPX> was up 1.93 points, or 0.15 percent, at 1,265.71. The Nasdaq Composite Index <.IXIC> was up 0.28 points, or 0.01 percent, at 2,256.15.
The U.S. budget registered a surprisingly big surplus of $20.99 billion in January as strong receipts outweighed spending, a Treasury Department report showed.
WE'RE DOOMED!!!
(flat earth economists and liberals hardest hit)
Liberals everywhere are saddened...
What months are big spending months? I can see certain months being bigger receipt months than others, but if January is a +21 billion, then other months must be bigger deficit months. I'd like to see a comparison to last years monthly tax receipts.
Which explains why the media is focused on the trade deficit and ignoring the surplus.
BUt how is all this growing possible in light of huge trade problems.. The foreign economies are taking on all of our debt.. how is possible for us to generate 20 billion extra dollars?
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