US STOCKS-Wall Street rises on Fed's $2.3 trillion backstop [Reuters]
Exxon Mobil Corporation (XOM)
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Source: Reuters
Wall Street rises on Fed's $2.3 trillion backstop (Reuters) - Wall Street rose for the third time in four days on Thursday as the U.S. Federal Reserve rolled out a massive $2.3 trillion program to bolster local governments and businesses, while oil prices gained on expectations of a drastic cut in output. In what is likely to be its largest rescue effort ever, the Fed said it would work with banks to offer 4-year loans to companies of up to 10,000 employees and directly buy bonds of states and more populous counties and cities. “(The Fed’s move) should give some confidence to investors, that the risks this time around are maybe not the same as the risks in the financial crisis,” said Randy Watts, chief investment officer at O’Neil Global Advisors. “While this rally has been impressive, the market probably is a little bit of ahead of itself and we would not be surprised to see a pullback from here.” The defensive real estate and utilities sectors jumped more than 5% to lead gains among
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XOM
Earnings
- 10/31/25 - Beat
XOM
Sec Filings
- 12/2/25 - Form 4
- 12/2/25 - Form 4
- 12/2/25 - Form 4
- XOM's page on the SEC website