Oil prices stormed higher yesterday after Saudi Arabia announced it’s unilaterally cutting production by a million barrels per-day. But oil prices are dropping back down towards 70-dollars-per-barrel today as fears of an economic slowdown take hold. New data show the U.S. services sector grew more slowly than expected in May as demand for travel and entertainment leveled off.
It won’t be available until early next year, but yesterday Apple unveiled its highly anticipated mixed-reality headset at the company’s Worldwide Developers Conference. The new Vision Pro merges immersive augmented reality with real-life surroundings. It also comes with a price tag of $3,500.
On Wall Street, futures are lower as investors reassess the market after the recent rally. Yesterday, stocks closed with modest losses.
