Here We Go Again -- Oil Back Below $40 a Barrel on Oversupply

The oversupply of oil continues to weigh on prices. Crude is trading below $40 a barrel today as demand isn't strong enough to work through the sheer amount of oil sloshing around. Some analysts believe oil will head toward $35 a barrel. Falling oil prices is worrisome as some had counted on higher prices boosting earnings for companies the rest of this year. Qorvo (QRVO) - Get Report reported better than expected results. The wireless chip maker is lower though, as the stock has seen big gains recently. The CEO of Qorvo says the company is the number 1 or 2 player in the majority of its growth markets. Fitbit (FIT) - Get Report  says two more products will be shipped by the end of this year. CEO James Park didn't hint as to what those products are. Fitbit did beat earnings expectations. ADP issues its monthly employment report today. The ISM manufacturing report is released.