Core Viewpoint - The oil giant criticizes California's requirements, arguing that they unfairly attribute blame for climate change to companies like itself [1] Group 1 - The oil company believes that the framework established by California's regulations is flawed [1] - The company asserts that it is being unduly held responsible for climate change issues [1]

Core Insights - Exxon Mobil Corporation (XOM) has gained 0.6% over the past year, underperforming Enterprise Products Partners LP (EPD), which increased by 14% [1] - The analysis suggests that while price performance is important, a deeper examination of fundamentals and business environment is necessary before making investment decisions [3] Company Overview - ExxonMobil is an integrated energy company with operations in upstream, downstream, chemicals, and low-carbon solutions, primarily in the Permian Basin and offshore Guyana [4][5] - Enterprise Products focuses on midstream operations with a pipeline network exceeding 50,000 miles, generating stable fee-based revenues but lacking broader business exposure compared to ExxonMobil [6][7] Financial Strength - ExxonMobil has a debt-to-capitalization ratio of 12.6%, indicating lower debt exposure and stronger financial resilience [8] - In contrast, Enterprise Products has a debt-to-capitalization ratio of 52.3%, reflecting higher debt levels, although it holds the highest credit rating in the midstream sector [9] Shareholder Returns - ExxonMobil has a long history of returning capital to shareholders, with consecutive annual dividend increases for over four decades [11] - Enterprise Products' reliance on the Permian region raises concerns, as most core oil-producing areas are depleting, leading to a shift towards natural gas, which may pressure profit margins [12][13] Investment Outlook - Overall, ExxonMobil is viewed as a better investment opportunity with more upside potential, while Enterprise Products is considered overvalued and carries a bleak outlook [14][15]

Cars are seen at an Exxon gas station in Brooklyn, New York City, on 23 November 2021.Photograph: Andrew Kelly/Reuters Exxon, an oil firm consistently ranked among the world’s top contributors to global carbon emissions, is suing the state of California over two climate-focused state laws, arguing that the rules infringe upon the corporation’s right to free speech. The 2023 laws, known collectively as the California Climate Accountability Package, will require large companies doing business in the state t ...

Core Viewpoint - Exxon Mobil Corporation (NYSE:XOM) is highlighted as a stock of interest, particularly in relation to its performance linked to crude oil prices, which has made it difficult for the company to gain traction in the market [1]. Company Overview - Exxon Mobil Corporation is engaged in oil and natural gas exploration and production, as well as the manufacturing of fuels, petrochemicals, and specialty products [1]. Investment Sentiment - The investment sentiment towards the oil sector is cautious, with a preference for dividends as a key factor for investment. The company is viewed favorably due to its dividends, despite a general lack of confidence in the oil industry’s current state [1].

Carbon Measures, a new carbon accounting initiative backed by a number of big energy and multinational companies, will create an independent panel to help guide its work, its chief executive told Reut... ...

Group 1 - The US stock market, particularly technology stocks, is showing bullish signals following constructive trade discussions between the US and China in Kuala Lumpur [1][2] - Futures linked to the Dow Jones, S&P 500, and Nasdaq indices rose by 0.6%, 0.7%, and 1.0% respectively on October 26, indicating a positive market sentiment [1][2] - A recent survey revealed that nearly half (47%) of professional investors are optimistic about the US stock market's outlook for 2026, a significant increase from 28% in the spring survey [2][3] Group 2 - The S&P 500 index reached a historic high on October 24, and the market continued to rebound due to favorable signals [2] - The upcoming Federal Reserve interest rate decision on October 29 is anticipated to result in another rate cut, which is expected to benefit major tech companies like Apple, Microsoft, and Amazon [2][4] - The survey conducted by Erdos Media Research and Barron's involved 122 fund managers and investment strategists, indicating a strong correlation between the recent market performance and the return of bullish sentiment [3] Group 3 - Fund managers predict a continuation of the upward trend until the end of 2026, with expected gains of 9% to 10.5% for major indices driven by corporate earnings growth and advancements in AI technology [4][5] - Approximately 38% of respondents expect S&P 500 earnings per share to grow by 6% to 10%, while 13% predict growth exceeding 10% [4] - Concerns about high stock valuations persist, with 57% of top fund managers believing the current market is overvalued, and 38% anticipating a bear market within the next 12 months [5][6] Group 4 - Nearly 60% of respondents have increased investments in non-US assets, reflecting a broader market strategy [6] - The majority (57%) of respondents view the current Federal Reserve policy stance as appropriate, with expectations for continued rate cuts [6][7] - There is a division of opinion regarding the next Federal Reserve chair, with support for candidates who advocate further rate cuts [7]

上周，受温和的通胀数据、贸易紧张局势缓和及企业财报整体向好等多重因素推动，美国三大股指创下收盘历史新高， 从全周来看集体上涨，其中道指涨2.2%，标普500指数涨1.92%，纳指涨2.31%。 上周国际油价上涨 布油涨超7% 本周美国将公布多项经济数据 上周国际金价跌近2% 贵金属市场方面，因投资者获利了结，加之全球贸易紧张局势出现缓和迹象，削弱了市场避险需求，国际金价10周以来 出现首周下跌，纽约商品交易所黄金期货主力合约价格累计下跌1.79%。 本周美联储将公布最新利率决议 当地时间本周三，也就是10月29日，美联储将公布最新的利率决议，市场普遍预期美联储将再次降息25个基点。尽管美 国核心通胀仍具黏性，但美联储主要担忧方向已转向就业市场的疲软迹象。另外，市场将重点关注美联储主席鲍威尔随 后召开的新闻发布会，从他的措辞中判断未来的降息幅度和节奏，投资者普遍预期美联储将在12月再次降息。此外，欧 洲央行、日本央行以及加拿大央行也将在本周公布最新的利率决议，市场普遍预计欧洲央行、日本央行均将维持现行基 准利率不变。 原油期货方面，上周，因美国宣布对俄罗斯最大的两家石油企业实施制裁，引发市场对原油供应的担忧，美 ...

美联储将于北京时间本周四凌晨公布最新利率决议。市场目前已几乎完全定价美联储将于本周降息25个 基点。此外，欧洲央行、日本央行也将于周四公布利率决议。 在企业财报方面，投资者将迎来最重磅的一周。五大科技巨头——微软(MSFT.US)、亚马逊 (AMZN.US)、苹果(AAPL.US)、Alphabet(GOOGL.US)、Meta(META.US)——均将于本周公布财报。投 资者将密切关注，在人工智能(AI)热潮推动的高预期下，大型科技公司是否仍能持续交出亮眼成绩单。 另外， 全球五大能源巨头中的其中四家——埃克森美孚(XOM.US)、雪佛龙(CVX.US)、壳牌(SHEL.US)以及道 达尔(TTE.US)——也将在本周发布业绩。联合健康(UNH.US)、Verizon(VZ.US)等公司也将公布最新业 绩。 "板上钉钉"的降息 根据华尔街分析师与美联储观察人士的观点，美联储本周的主要关注点将是劳动力市场，尽管这次会议 缺少9月非农就业报告。 智通财经获悉，本周对于投资者而言将是极为繁忙的一周——美联储将公布最新利率决议，大批企业将 发布财报，而白宫此前宣布中美元首将于APEC峰会期间举行双边会晤。 美股上周 ...

智通财经APP获悉，本周对于投资者而言将是极为繁忙的一周——美联储将公布最新利率决议，大批企 业将发布财报，而白宫此前宣布中美元首将于APEC峰会期间举行双边会晤。 美股上周五大涨并创下历史新高，原因是美国9月CPI数据全线低于预期，为美联储下周及12月继续降 息提供了更充分的理由。数据显示，美国9月整体CPI同比上涨3.0%，低于市场预期的3.1%;整体CPI环 比上涨0.3%，低于市场预期的0.4%。与此同时，剔除食品和能源等波动较大类别的核心CPI同比上涨 3.0%，低于市场预期的3.1%;核心CPI环比上涨0.2%，为三个月以来最慢增速，低于市场预期的0.3%。 美联储将于北京时间本周四凌晨公布最新利率决议。市场目前已几乎完全定价美联储将于本周降息25个 基点。此外，欧洲央行、日本央行也将于周四公布利率决议。 在企业财报方面，投资者将迎来最重磅的一周。五大科技巨头——微软(MSFT.US)、亚马逊 (AMZN.US)、苹果(AAPL.US)、Alphabet(GOOGL.US)、Meta(META.US)——均将于本周公布财报。投 资者将密切关注，在人工智能(AI)热潮推动的高预期下，大型科技公司是否 ...

Domestic Policy and Economic Landscape - High-income residents in Democratic states are expected to receive significant tax refunds in 2025 due to a relaxed SALT cap, which may greatly influence personal finances in high-tax states [2] - ExxonMobil has filed a lawsuit against California, claiming that new climate disclosure laws violate its First Amendment rights, as these laws require large companies to disclose greenhouse gas emissions and climate-related financial risks starting in 2026 [3] - California's Transportation Secretary has threatened to revoke the state's authority to issue commercial driver's licenses and withhold $160 million in funding due to regulatory failures, including issuing licenses to non-domiciled drivers [4] - The Federal Reserve's bank reserves have decreased by $59 billion to $2.93 trillion, marking the second-lowest level since January 2023, indicating liquidity shifts in the financial system [5] - The job market remains tough for recent graduates, with 58% still seeking employment, more than double the rate of previous generations [5] Geopolitical Dynamics and International Trade - Former President Trump is on a diplomatic trip to Asia, aiming to finalize a peace deal between Cambodia and Thailand [6] - Ongoing meetings between Russian officials and the Trump administration are focused on a potential Ukraine deal, with Trump stating he will only meet with Putin if a concrete agreement is in place [7] - Trade tensions are escalating, with Trump announcing a 10% increase in tariffs on Canadian goods in response to an anti-tariff advertisement, while The Economist suggests that China is "winning the trade war" [8][9] Corporate and Market Movements - SoftBank has approved a remaining $22.5 billion investment in OpenAI, contingent on the startup completing a corporate restructuring for a potential public offering, indicating strong confidence in AI growth [10] - Central banks globally are accelerating gold purchases, acquiring an annualized 830 tonnes in 2025, reflecting a strategic shift towards diversifying reserves amid economic uncertainties [11]