Sector: Energy & Utilities
Halliburton (HAL) reported its second-quarter earnings on Monday before the markets opened. The company's earnings rose sequentially.
Investors take shelter under relatively safe utility stocks amid market turmoil due to their stable dividend payment abilities.
Chevron (CVX) and ExxonMobil (XOM) are scheduled to post their second-quarter earnings results on August 2.
Rate cut expectations continued to drive broader markets last week. The utilities sector fell 0.4%, while SPY fell 1.2% for the week ending July 19.
Last week, midstream stock Holly Energy Partners (HEP) outperformed other companies in the energy space.
At 2:44 AM ET on Monday, US crude oil prices rose by 58 cents. The standoff between Iran and the United Kingdom might help oil prices rise this week.
Let's look at what analysts expect for refining companies Marathon Petroleum (MPC), HollyFrontier (HFC), Valero Energy (VLO), and Phillips 66 (PSX) in the second quarter.