Here's What Exxon and Chevron Are Saying About Energy Right Now
Thursday was a great day for the stock market, but investors appeared to wake up Friday morning with less optimism. Some results from leaders in the technology industry that fell short of perfect had a ripple effect across the market, and although the worst damage hit the Nasdaq Composite (NASDAQINDEX: ^IXIC), other major market benchmarks also lost ground. As of 8:15 a.m. ET, futures on the Dow Jones Industrial Average (DJINDICES: ^DJI) were down 171 points to 33,657. S&P 500 (SNPINDEX: ^GSPC) futures had dropped 45 points to 4,238, while Nasdaq futures had fallen 196 points to 13,259.
One of the bright spots in the stock market in 2022 has been the energy sector, where rising crude oil and natural gas prices have led to considerable improvements in business strength. On Friday morning, oil giants ExxonMobil (NYSE: XOM) and Chevron (NYSE: CVX) reported their latest financial results, and investors were quick to dissect the reports to find insight into what the prospects for energy companies could be for the remainder of the year and beyond.
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Source Fool.com
