Oil slides 5.4% to $80.28 as New York Fed Empire State index drops to 5.7 in June

The New York Fed’s Empire State Manufacturing Index fell to 5.7 in June, down from 19.6 in the prior month and below market estimates of 14, signaling a sharp cooldown in New York State factory activity. U.S. industrial production rose 0.1% in May, missing expectations for a 0.3% gain. Oil sank 5.4% to $80.28, while tech shares led gains and energy stocks fell 3.5%.