Not a big surprise on the profit decline reported from Chevron this morning. CVX posted a 51% drop in profits. ExxonMobil saw a 65% decrease and ConocoPhillips witnessed a 71% drop. But--and this is a big but--oil futures have rallied 12 percent in October, so Q4 numbers may be better going forward.
We shall see.
Also--I'm doing a boat load of media interviews today. Did a Reuters Conference Call, as well as a Texas media tour. Looks like yours truly will be in the Sunday papers in most of the major Texas metro regions. WooHoo!! Or, should I say YeeHaw!
Here's a couple of mentions, so far:
Treasurys Boosted by Weak Economic Signals
Wall St Set for Weak Open after Best Day in 3 Months
More reports today, as well as a Taipan article.
Talk to you,
Todd M. Schoenberger, Managing Director
LandColt Trading, LLC