New optimism over U.S.-China trade

On Friday Oil dropped following the statement of the United States that its crude production scored a record of 12 million barrels per day. That fact is weakening the attempts by the popular club OPEC to delay supply and contract global markets. The U.S. West Texas Intermediate (WTI) crude oil futures fell 12 cents, at around $56.83 per barrel from their last settlement. International Brent crude futures were at $66.87 per barrel, down 20 cents, or 0.3%, from their last close.

On Thursday US Stocks dropped after the announcement of dim U.S. economic data and due continuing trade negotiations between the U.S and China. The Nasdaq Composite dropped 0.4% to 7,459.70. The Dow Jones Industrial Average dropped 103.80 points to 25,850.62. The S&P 500 fell more than 0.3% to 2,774.87, driven below by the health and energy areas.