EOG's Q2 earnings beat estimates as higher oil prices and a 24.4% production gain fueled a 57.4% revenue surge and strong free cash flow.
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Gasoline prices are punishing drivers at the pump while a handful of companies are posting the most profitable quarters in their histories, and the structural reason this keeps happening has nothing to do with luck or crude oil prices.
The S&P 500 Index ($SPX ) (SPY ) today is up +0.73%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is up +1.03%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +2.00%. September E-mini S&P futures (ESU26 ) are up +0.72%, and September E-mini Nasdaq futures...

Energy titans ExxonMobil (XOM) and Chevron (CVX) both released second quarter earnings results ahead of Friday's market open. Morning Brief Host Julie Hyman is joined by Yahoo Finance Breaking News Reporter Jake Conley and Trustless Media Founder Zack Guzman to help assess both companies' production outlook and how they are managing debt.
Despite the futures rebound, retail investors remain cautious. Stocktwits data showed retail sentiment is ‘bearish’ on SPY and QQQ.
Exxon (XOM) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Iran conflict-driven crude gains lifted ExxonMobil's second-quarter profit outlook, partly offset by Middle East production losses.