Reuters - Video

Edition: US | UK | IN | CN | JP

video Finance Videos

Wall Street gets Fed reality check
Wall Street gets Fed reality check - 01:51
Reuters Today: Spanish yields seen rising at auction
Reuters Today: Spanish yields seen rising at auction - 06:21
Surprise services boost points to UK recovery
Surprise services boost points to UK recovery - 02:54
Breakingviews: Do as I say, not as I do – German wages
Breakingviews: Do as I say, not as I do – German wages - 05:04
Market Pulse: Spain under fire as investors shun bond sale
Market Pulse: Spain under fire as investors shun bond sale - 03:28
Myanmar's Kyat begins managed float
Myanmar's Kyat begins managed float - 01:59
ASEAN: territorial code of conduct draft by year-end
ASEAN: territorial code of conduct draft by year-end - 01:48
U.S. Morning Call: Stock futures down, JPMorgan to be fined
U.S. Morning Call: Stock futures down, JPMorgan to be fined - 02:08
EMEA Day Ahead:: Thursday
EMEA Day Ahead:: Thursday - 03:13
3XSQ: Customer funds in question; royal return
3XSQ: Customer funds in question; royal return - 05:44
Still cashing in? Hirst retrospective
Still cashing in? Hirst retrospective - 02:32
World's biggest car delivery center
World's biggest car delivery center - 02:41
FACTBOX: Titanic the movie sails again
FACTBOX: Titanic the movie sails again - 02:20
Trading at Noon: Wall St. down on lost hope for stimulus
Trading at Noon: Wall St. down on lost hope for stimulus - 02:48
Draghi holds rates, offers caution
Draghi holds rates, offers caution - 01:50
Breakingviews: Gun bubble redux
Breakingviews: Gun bubble redux - 02:51
Yahoo cuts 2,000 jobs
Yahoo cuts 2,000 jobs - 01:15
Easter egg panic in eastern Europe
Easter egg panic in eastern Europe - 01:28
Wealth Strategies: Equity rally has 3 years left in cycle
Wealth Strategies: Equity rally has 3 years left in cycle - 06:05
Congressional insider trading ban
Congressional insider trading ban - 01:17
Gas prices no detour for car buyers
Gas prices no detour for car buyers - 02:13
Demand for fuel-efficient cars will outlast spike in gas prices
Demand for fuel-efficient cars will outlast spike in gas prices - 02:36
Most engines of growth are in emerging markets : Nissan CEO
Most engines of growth are in emerging markets : Nissan CEO - 05:39
U.S. Day Ahead: GAP set to shine with same store sales
U.S. Day Ahead: GAP set to shine with same store sales - 01:59

Amazon deal rocks Wall Street

Friday, June 16, 2017 - 01:22

Major U.S. stock indexes ended little changed on Friday even as Amazon $13.7 billion deal to buy upscale grocer Whole Foods roiled the retail sector. Fred Katayama reports.

▲ Hide Transcript

▶ View Transcript

Energy and utilities shares helped Wall Street eke out a win Friday, but tech stocks extended their slide and hammered the Nasdaq. Amazon.com's blockbuster M&A deal sent Wal-Mart, Kroger and other retailers south. Ken Kamen of Mercadien Asset Management. SOUNDBITE: KEN KAMEN, PRESIDENT, MERCADIEN ASSET MANAGEMENT, (ENGLISH) SAYING: "Amazon's set to shake things up. So it's creating a lot of uncertainty. You're looking at Wal-Mart being down, look at Kroger being down. Everyone's now going, OK, what other industry are they going to disintermediate?" Amazon is acquiring upscale supermarket chain Whole Foods Market for more than $13 billion. It's the online retailer disruptor's biggest move into the brick-and-mortar retail sector. Amazon's bombshell deal came the same day Wal-mart said it's buying online clothing retailer Bonobos for $310 million. Apple dragged the tech sector down. Nike shares plummeting for a second straight day. JPMorgan downgraded the stock to "neutral" from "overweight" the day after the sports apparel company said it would cut 2 percent of its workforce and eliminate one-fourth of its shoe styles. Homebuilding stocks like D.R. Horton and PulteGroupe declined. The Commerce Department reports homebuilding dropped to an eight-month low in May as construction activity declined broadly. That report sent Treasury yields and the dollar lower. European shares closed higher, led by industrials and utilities.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Close

Amazon deal rocks Wall Street

Friday, June 16, 2017 - 01:22