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NEW YORK – US stocks are mixed on Thursday morning after dropping early gains and falling to their lowest level in a month. Amazon said that it buys an online pharmacy and launches its own delivery vans business, and pharmacies and drug distributors as well as delivery companies are flowing. Banks and technology companies are higher.
GUARD NOTE: The S & P 500 index added 1 point, or 0.1%, to 2,701 at 10 pm Eastern Time. The Dow Jones Industrial Average lost 58 points, or 0.2%, to 24,059. The Nasdaq composite gained 12 points, or 0.2%, at 7,457 points. The Russell 2000 stock index of small companies lost 3 points, or 0.2%, to settle at 1,636.
U.S. Stocks were higher early Wednesday after President Donald Trump abandoned plans to impose strict limits on Chinese investment in US tech companies. But gains have evaporated after Larry Kudlow, Trump's chief economic advisor, said in an interview with Fox Business that it should not necessarily be considered a softer position. The S & P 500 lost 0.9% to close at its lowest level since May 29th. The United States will impose a 25% tariff on billions of dollars of Chinese products from July 6th. American Merchandise
AMAZON FORCE: Amazon shook several industries Thursday after he said he's buying PillPack Online Pharmacy, which offers pre-sorted dose packaging and delivery home. Investors were expecting Amazon to use its muscles to cut costs and drug prices, which resulted in heavy losses for pharmacies, pharmaceutical companies and drug companies.
Amazon rose 0.9% to $ 1675.73. CVS, a pharmacy operator and a pharmaceutical benefits manager, slipped 9.3% to $ 63.51. Amazon has also announced a new program through which local entrepreneurs can launch businesses that deliver Amazon packages, which means that Amazon will have new ways to deliver products without relying on companies like UPS and FedEx. . UPSIS lost 2.2% to $ 106 and FedEx dropped 1% to $ 227.38
STRATEGIC CHANGES: Madison Square Garden Co. announced plans to abandon its sports division, which holds the New York Knicks of the NBA and the Rangers of the NHL. listed company. The stock jumped 11% to $ 295.52
The Chipotle Mexican food chain announced that it was going to restructure its business, closing some troubled restaurants and changing its menu. It provides total costs of up to $ 135 million. ECONOMIC GROWTH: The Commerce Department said that the US economy grew only 2% from January to March, slower than expected, as consumer spending and corporate inventories were weaker. But experts believe that the current quarter, which will end on Saturday, will be much stronger thanks to an increase in consumer spending.
ENERGY: The benchmark US crude gained 0.8% to $ 73.31 a barrel in New York. Brent crude oil, used for the price of international oils, rose 0.2 percent to 77.63 dollars a barrel in London.
BONDS: Bond prices fell slightly. The yield on the 10-year Treasury bill rose from 2.83% to 2.84%
CURRENCIES: The dollar rose from 110.20 yen to 110.32 yen. The euro went from $ 1.1557 to $ 1.1578
OVERSEAS: The German DAX fell by 1.4%, the French CAC 40 having lost 1%. The British FTSE 100 lost 0.3%
Japan's Nikkei 225 index remained virtually unchanged and the South Korean Kospi lost 1.2%. Hang Seng, of Hong Kong, added 0.5%
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Marley Jay, Writer of AP Markets, can be contacted on http://twitter.com/MarleyJayAP Her work may be accessed at https://apnews.com/search/marley%20jai
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