Crude Oil Jumps as Wall Street Closes Mostly Down
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(NEW YORK) — It’s finally the end of the worst month for stocks in several years as Wall Street closes mostly down, but crude oil is up nearly 30 percent in just three days.
The Dow Jones Industrial Average fell 114.98 to finish the session at 16528.03.
The Nasdaq also lost 51.82, ending at 4776.51, while the S&P 500 dropped 16.69 to close at 1972.18.
Crude oil rose nearly 8 percent, closing at more than $49 a barrel, the biggest three-day gain since 1990. Business Insider attributes the surge to OPEC, as they stand “ready to talk to all other producers.”
Still no word on whether or not the Federal Reserve will raise interest rates, however a Fed official said over the weekend a September interest rate hike was still possible.
Apple and Cisco Systems are working together in a new attempt to try and sell more iPhones and iPads to corporate customers. It’s an effort to work on Internet networking gear and to allow workers’ office phones to be synced up as well.
Blue Bell ice cream is back in grocery stores, four months after the company shut down production due to a listeria outbreak. Ice cream from the Texas-based company is now available at stores around Houston and Austin and parts of Alabama.
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