Wall Street rises on $2.3 trillion Fed backstop [Reuters]
Exxon Mobil Corporation (XOM)
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Source: Reuters
Wall Street rises on $2.3 trillion Fed 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 energy stocks jumped on an expected cut in oil production. In what is likely to be its largest rescue effort ever, the Fed said it would work through banks to offer 4-year loans to companies of up to 10,000 employees and directly buy the bonds of states and more populous counties and cities. “The Federal Reserve and the U.S. government are willing to go to extreme lengths to support the economy and that has been far beyond my expectations,” said Dev Kantesaria, founder portfolio manager of hedge fund Valley Forge Capital Management, Wayne, Pennsylvania. Meanwhile, data showed initial U.S. jobless claims fell slightly last week to 6.6 million from an upwardly revised 6.87 million the week before. Still, new claims topped 6 million for the second s
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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