Stocks tread water as investors watch oil slide amid Middle East rift with Qatar

Wall Street (^GSPC) is backing away from last week’s record highs. Stock futures are leaning lower as investors wait for some key data on the manufacturing sector. Oil prices are falling after fiver Arab nations, including Egypt and Saudi Arabia, cut ties with Qatar. Yahoo Finance’s Alexis Christoforous, Nicole Sinclair, Myles Udland and Melody Hahm discuss the day’s top business stories, including Facebook’s (FB) reaction to the latest UK terror attack and the downgrade of Apple (AAPL) stock by an analyst right before the company’s big developer’s conference.

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