U.S. Earnings Gains Masked by Energy Profit Down Most Since 2009

U.S. Earnings Gains Masked by Energy Profit Down Most Since 2009

Occidental Petroleum Corp. via Bloomberg

Lower earnings from Apache Corp. to Occidental Petroleum Corp. reflect the dip in oil and gas prices in May and don’t signal lasting weakness in U.S. profits after they doubled since 2009, according to BB&T Wealth Management’s Walter “Bucky” Hellwig.