What's Going On With Exxon Mobil (XOM) Stock
Portfolio Pulse from Henry Khederian
Exxon Mobil Corp (XOM) shares are trading higher by 1.12% to $107.61 during Tuesday's session. The increase is attributed to China's central bank cutting its seven-day reverse repurchase rate and May CPI data showing slowing U.S. inflation. The People's Bank of China (PBOC) reduced a key short-term lending rate for the first time in 10 months to support the post-pandemic rebound.
June 13, 2023 | 3:14 pm
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Exxon Mobil's stock price increased by 1.12% due to China's central bank cutting its lending rate and slowing U.S. inflation. The PBOC's move aims to support the post-pandemic rebound.
Exxon Mobil's stock price increased as a result of China's central bank cutting its lending rate and slowing U.S. inflation. The PBOC's move is aimed at supporting the post-pandemic rebound, which is expected to have a positive impact on energy companies like Exxon Mobil. The stock's increase is directly related to these macroeconomic factors, making the news highly relevant and important for investors.
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