OIL BOUNCES BACK
Federal Reserve Bank Chairwoman Janet Yellen’s speech seems to be holding the economy hostage. With anticipation over whether or not a rate hike will be implemented rising, oil has been making a comeback. This comeback comes with the expectation that the dollar will be weakened, should a rate hike be implemented. Crude manufacturers are performing well, reporting gains as high as 0.9%. Speculations about a potential lock on supply by OPEC also could herald growth in the oil industry. Economic data indicates sluggish growth, which is counterintuitive to a rate hike.