(MENAFN- Asia Times)
While the energy sector is still expected to be the largest earnings growth contributor for the S & P 500 as a whole, it is seeing significant downturn, FactSet.
Both Exxon Mobil and Chevron are set to report earnings on Friday, which are expected to fall below estimates from June 30.
Nearly 75% of S & P 500 energy sector firms have recorded decline in Q2 EPS estimates since June 30. The sector-wide earnings growth rate has fallen to 332.1% from 390.5% at the end of Q2, the largest drop of any sector.
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