According to Kensho data, since 2008 when the 10-year Treasury note yields increased 25 basis points or more over a span of 30 days, the financial and energy sectors tend to beat the rest of the stock market, CNBC reports.
“Chevron and Exxon could see some near-term volatility following their earnings releases Friday morning. Analysts expect Chevron to post a nearly 30 percent increase in sales, while Exxon is forecast to report 14 percent sales growth,” according to CNBC.
Exxon and Chevron, the two largest U.S. oil companies, are the largest holdings in cap-weighted energy ETFs such as XLE.
For more information on the oil market, visit our energy category.