Shares of a number of coal mining companies rose after presidential candidate Mitt Romney voiced his support for the coal industry during the first debate leading up to the November elections. During last night's debate with President Obama, Republican candidate Romney stated, "I like coal. I'm going to make sure we can continue to burn clean coal," adding, "People in the coal industry feel like it's getting crushed by your policies." A Reuters report said analysts at both Brean Murray and CRT Capital attributed the move up in coal shares to Romney's support. In early afternoon trading, Arch Coal (ACI) rose 7.4% to $6.66, Alpha Natural Resources (ANR) gained 5.2% to $6.63, Peabody Energy (BTU) added 4.5% to $22.78 and James River Coal (JRCC) surged 10.6% to $2.93.
America has no tolerance for wealthy people griping about their financial woes. But they have concerns too.