Crude oil futures and Apple stock both took a big hit on Tuesday as weak demand for oil coupled with an unexpected drop in Apple stock.
The weakening of the price of Oil is somewhat expected; Summer is usually when global demand is at its highest, and with Fall approaching the markets expect demand, and therefore prices, to start to drop (even more than they already have). Analysts around the world are concerned that the oil prices will continue to drop, further hurting the already weak prices and causing a deeper drop in Energy stocks.
However, by Wednesday morning, both the Apple and Oil prices started a modest recovery, which investors jumped on with fervor. At this time, it is unknown if the recovery will continue, but analysts are searching out any sign of strength, or weakness, in the markets as a whole while the Federal Reserve Bank weighs increasing interest rates.
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