U.S. Stocks Advance, Led by Exxon, Energy Shares, Home Depot
http://quote.bloomberg.com/apps/news?pid=10000006&sid=alQcEYiXr9Ws Aug. 31 (Bloomberg) -- U.S. stocks rose, led by energy producers such as Exxon Mobil Corp. and providers of building supplies like Home Depot Inc., which may see increased demand in the wake of Hurricane Katrina.
``Even before the hurricane, we were in a situation where we were short supply and demand was very strong'' for oil, said Henry Goodman, head of global institutional sales at RBC Capital Markets in New York. ``That continues to be the case on a global basis.'' Goodman is ``bullish'' on Halliburton Co.
Today, Exxon, the world's largest publicly traded oil company, gained $1.29 to $59.90. Chevron Corp., the second- biggest U.S. oil company, added 86 cents to $61.40.
Allstate Corp., the No. 2 U.S. auto and home insurer, lost 43 cents to $56.21. St. Paul Travelers Cos., the second-largest U.S. commercial insurer, fell 94 cents to $43.01.