- Traders will digest Q4 results this morning from the U.S. oil majors after Shell's big slide already raised red flags for the industry.
- Chevron's (NYSE:CVX) earnings are expected to be affected by a sharp decline in natural gas prices and an $11B charge related to asset impairment.
- Exxon (NYSE:XOM), whose stock hit a decade low this week, is likely to reveal a heavy drop from a year ago on weakness in chemical and refining, while Phillips 66 (NYSE:PSX) is anticipated to post softer profits and revenue.
- 2020 capital spending budgets and updates on new projects will also be in focus.