Stocks rutted in narrow range as Amazon deal weighs on Food & Staples
2017-06-16 13:40:16
The major averages remain little changed but have yet to make it to positive territory. The number of declining stocks is ahead of advancing stocks by 5:4 while oil prices have managed a small gain after being under pressure all week. The major news story remains Amazon's (AMZN) purchase of Whole Foods (WFM), which has put the Food and Staples retailing group under pressure on concerns of margin compression and competition.