ExxonMobil Falls; Visa, MasterCard Raised

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Market Update Analysis:

Author: 123jump.com Staff
123jump.com
Last Update: 4:38 PM EDT May 01 2008

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U.S. stocks traded higher in the morning trading after the release of weekly jobless claims and personal income and expenditure data. Weekly jobless claims increased 35,000 at the end of last week and personal income in March rose 0.3% and personal consumption expenditure rose 0.4%. Exxon Mobil earnings fell short of expectations and stock fell 4%. UBS raised its price target for MasterCard to $350 from $275 and for Visa to $100 from $88.

On oil equivalent basis production decreased 5.6% and excluding Venezuela divestments the production was down 3%.

Asian markets review

In Tokyo Nikkei 225 Index closed lower 83.13 or 0.60% to 13,766.86, in Australia ASX 200 index lower 9.60 or 0.17% to close 5,585.80. Markets in Hong Kong, Malaysia, South Korea, Thailand, Indonesia and India were closed today.

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