Published on 26 Apr 2024 on Benzinga via Yahoo Finance
US Energy Stocks Fall Following Oil Giants' Subdued Earnings Reports
Shares of major U.S. energy companies experienced widespread declines in the first hour of trading on Friday, subsequent to the recently released subdued earnings reports from oil giants Exxon Mobil Corp. (NYSE:XOM) and Chevron Corp. (NYSE:CVX).
The Energy Select Sector SPDR Fund (NYSE:XLE), a gauge for energy sector performance, experienced a 1.7% drop, setting it up for its worst session since the end of January.