Shares of Chevron Corp. (CVX) and Exxon Mobil Corp. (XOM) fell in premarket trading Friday, enough to pace the Dow Jones Industrial Average's early decliners, as a selloff on crude oil futures weighed on the energy sector. Chevron shares shed 0.8% and Exxon Mobil's stock fell 0.6%, while Dow futures ( ) rose 19 points, or 0.1%. Crude futures dropped 3.7%, amid concerns over economic growth ( ) in China and growing worries of increasing trade friction between the U.S. and China. The SPDR Energy Select Sector ETF (XLE) slid TK% ahead of the open. Among other more-active energy stocks, Occidental Petroleum Corp. (OXY) slipped 0.4%, Marathon Oil Corp. (MRO) gave up 0.8%, Apache Corp. (APA) fell 1.1% and Halliburton Co. (HAL) lost 1.3%.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
May 22, 2020 09:05 ET (13:05 GMT)
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