Oil Back at $40 After Summer Surge
The downward pressure was also felt in overseas markets. Stocks were down across Asia and Europe. Japan’s Nikkei fell just over 100 points, and the Hang Seng in Hong Kong plunged almost 500 points.
Fossil Group (FOSL) Plummets 35%Fossil Group (FOSL) plunged by more than 35% today on news that the watchmaker was acquiring the privately-held fitness accessory company Misfit. This puts Fossil squarely in the growing marketplace of watchmakers turning to digital trends and creating new wearable devices to monitor health and fitness.
FitBit (FIT), which is currently the major player in the wearables segment, also had a down day. The digital accessory manufacturer fell by just over 12% in trading today. The marketplace for wearable devices has been growing in the past 18 months, and it’s starting to get congested with watchmakers-turned-computing companies who are all vying for the first truly must-have wearable device.
Oil Back at $40 After Summer SurgeThe price of crude oil is back around $40 after a surge took prices to almost $50 per barrel this summer. The hike in prices was to be expected, since summer driving season has traditionally been accompanied by higher costs to the consumer at the pump. What’s unexpected about the falling price of crude, however, is the way that it’s failed to stop the Energy Minerals sector from booming.
Euro Keeps Slipping Back Toward ParityAnother down day for the Euro could spell a coming crisis for the European Union. Their Euro is creeping back toward parity with the US dollar, something which hasn’t happened for nearly a decade. The Euro ended the day’s trading at $1.08 and falling, a trend which has been in the making for months now.
Published on Nov 13, 2015By Aaron Phillips