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Rating agency Fitch reaffimed the United States of America at 'AAA' BUT with Outlook Negative Friday. This comes after in March it warned of high fiscal deficits and debt which were already rising even before coronavirus are starting to erode these credit strengths.

The U.S. oil rigs in service fell back to the all time low after last week rising for the first week since March 13. Crude production remain unchanged at 11.100kbpd. Natural gas rigs rose 1 in the US.

Chevron reported second quarter results Friday along with fellow oil major ExxonMobil.l. $CVX reported an $8.3 billion loss as the coronavirus “significantly reduced demand.” Chevron's average price per barrel of oil and NGL fell more than 60% year over year.

Oil giant ExxonMobil reported worse than expected second quarter earnings Friday with its second quarterly oss in a row. The Covid pandemic caused plunging oil demand within a supply glut. Last quarter was $XOM's first quarterly loss in 32 years.

Video game publisher Electronic Arts reported better than expected June quarter earnings after the market Thursday. The Covid lockdown saw gamers exceed all forecasts of interactions and purchasers. $EA guided higher for next quarter.

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