Reuters - Video

Edition: US | UK | IN | CN | JP

video Video

Bernanke steps into the spotlight
Bernanke steps into the spotlight - 02:13
The official royal wedding guest list revealed
The official royal wedding guest list revealed - 01:23
Shuttle astronauts arrive at Cape Canaveral
Shuttle astronauts arrive at Cape Canaveral - 01:18
Waiting for Bernanke
Waiting for Bernanke - 01:51
Hospital staff flee border fighting
Hospital staff flee border fighting - 01:10
Thousands at Sai Baba funeral
Thousands at Sai Baba funeral - 01:03
Al Qaeda releases hostage messages
Al Qaeda releases hostage messages - 01:43
Obama calls birth controversy \
Obama calls birth controversy "distracting" - 05:29
Three blasts hit Kirkuk
Three blasts hit Kirkuk - 01:25
Protests intensify in Yemen
Protests intensify in Yemen - 01:24
Border clashes displace thousands
Border clashes displace thousands - 01:50
S&P Credit Rating Warning Helpful - Lister
S&P Credit Rating Warning Helpful - Lister - 00:53

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