The Energy Select Sector SPDR (ETF) (NYSE: XLE) and rival equity-based energy exchange traded funds do not need any help spending time the limelight. Down 9.2 percent year-to-date, ranking it the worst of the nine sector SPDRs, XLE is getting plenty of negative of attention.
Depending on which way the earnings winds blow on Friday, it could be another trying day for XLE and comparable ETFs. Before the open of U.S. markets, Dow components Exxon Mobil Corporation (NYSE: XOM) and Chevron Corporation (NYSE: CVX), the two largest U.S. oil companies, deliver second-quarter results.
Analysts expect Exxon to post second-quarter earnings of $1.11 a share, down from $1.66 a share a year-earlier. Chevron is expected deliver second-quarter earnings of $1.15 a share, down from $2.59 a share a year ago.
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