Wall Street was poised to open with gains Friday, according to the Associated Press. Futures for the S&P 500 gained 0.3% before the bell and were on track for a ninth straight day of gains. Futures for the Dow Jones Industrial Average added 0.4%, and Nasdaq futures ticked up 0.2%.
Exxon Mobil’s reported its lowest first-quarter profit in years, stung by weaker crude prices and higher costs. Its shares ticked up less than 1% before markets opened Friday.
Shares in rival Chevron fell more than 2% after it also reported its smallest first quarter profit in years.
A barrel of U.S. benchmark crude fell below $60 this week, a level at which many producers can no longer turn a profit. On Friday, a barrel of U.S. crude fell another 66 cents to $58.58. Brent crude, the international standard, declined 64 cents to $61.49 per barrel.
Late Thursday, technology behemoths Amazon and Apple reported their latest results. Shares of Apple fell about 3% overnight after the iPhone company beat Wall Street expectations but forecast an additional $900 million to its costs in the current quarter as a result of tariffs, if they remain in place as announced.
Amazon shares fell close to 1% after the online retailer reported better-than-expected results but also said that tariffs were clouding its near-term forecast.
