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Posted: 2/10/2006 5:07:38 PM EDT
linky

so much for deficit spending.

Stocks rise on earnings and budget surplus
Fri Feb 10, 2006 3:07 PM ET

By Caroline Valetkevitch

NEW YORK (Reuters) - U.S. stocks edged higher on Friday after strong earnings from companies including insurance broker Aon Corp. (AOC.N: Quote, Profile, Research) 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 (PFE.N: Quote, Profile, Research) 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 (XOM.N: Quote, Profile, Research) stock, meanwhile, was off 0.3 percent at $59.72. NYMEX March crude <CLH6> 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.

"The market does not seem capable of finding a direction. As we head into Valentine's Day, the market can't handle love or rejection," said Christopher Rich, principal of Rich Advisory Group LLC, a research firm in Chicago. "This bipolar action has been the modus operandi for the last month. Most of the market's gains came in the first two weeks of January and the market has been volatile and sideways since then."

Pfizer, the world's largest drug maker, said it sees 2006 profit slightly below analysts' average forecast. Pfizer's stock fell nearly 2 percent to $25.83 on the NYSE. It was the largest drag on both the Dow average and the S&P 500.

On Nasdaq, video game developer Atari (ATAR.O: Quote, Profile, Research) reported an unexpected quarterly loss and said there was "substantial doubt" about its ability to continue as a going concern, sending shares down 19.3 percent to 71 cents.

Chevron Corp. (CVX.N: Quote, Profile, Research) shares fell 0.4 percent to $56.69 on the NYSE.

Link Posted: 2/10/2006 5:17:36 PM EDT
Then I wish uncle sugar would give me back a piece of what they stole from me.
Link Posted: 2/10/2006 5:19:27 PM EDT

Originally Posted By cnorton:
Then I wish uncle sugar would give me back a piece of what they stole from me.


They still have to pay the $7Trillion they've handed out over the preceding decades.

Good news though, it must mean a growing economy. It certainly isn't because of the Republicans restraining spending.
Link Posted: 2/10/2006 5:33:22 PM EDT
Link Posted: 2/10/2006 5:38:44 PM EDT
Budget Surplus for January. Hell, I got a massive budget surplus every month, right before I pay my credit card bill.
Link Posted: 2/10/2006 5:39:04 PM EDT
That money has already been spent, I gaurantee it.

When a congressman sees $25B surplus he thinks "Thats $100B more we can spend!"

Democrat, Republican. doesn't matter.
Link Posted: 2/10/2006 5:40:12 PM EDT

Originally Posted By DukeSnookems:
Budget Surplus for January. Hell, I got a massive budget surplus every month, right before I pay my credit card bill.



could you imagine the worship from the media that would be given to a democrat for something like this?
Link Posted: 2/10/2006 5:45:05 PM EDT

Originally Posted By TheRedHorseman:

Originally Posted By DukeSnookems:
Budget Surplus for January. Hell, I got a massive budget surplus every month, right before I pay my credit card bill.



could you imagine the worship from the media that would be given to a democrat for something like this?



No, I but I recall a lot of fanfare over a blowjob when "a democrat" delivered a +200B ANNUAL budget surplus
Link Posted: 2/10/2006 5:47:09 PM EDT
Hey! 12 Exxons = 1 USA.
Link Posted: 2/10/2006 5:47:57 PM EDT

Originally Posted By DukeSnookems:

Originally Posted By TheRedHorseman:

Originally Posted By DukeSnookems:
Budget Surplus for January. Hell, I got a massive budget surplus every month, right before I pay my credit card bill.



could you imagine the worship from the media that would be given to a democrat for something like this?



No, I but I recall a lot of fanfare over a blowjob when "a democrat" delivered a +200B ANNUAL budget surplus



he never delivered it, it was projected but the tech bubble killed it
Link Posted: 2/10/2006 5:48:28 PM EDT

Originally Posted By DukeSnookems:

Originally Posted By TheRedHorseman:

Originally Posted By DukeSnookems:
Budget Surplus for January. Hell, I got a massive budget surplus every month, right before I pay my credit card bill.



could you imagine the worship from the media that would be given to a democrat for something like this?



No, I but I recall a lot of fanfare over a blowjob when "a democrat" a Republican congress delivered a +200B ANNUAL budget surplus

Link Posted: 2/10/2006 5:59:47 PM EDT
There's often a surplus in January because people send in taxes owed faster than .gov pays out.

It doesn't mean anything.

Nice try though.
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