Nasdaq continues slide.
The major stock indices are ending the day mixed. The big news all day was the Amazon purchase of Whole Foods by Amazons. Visions of all food stores closing and Amazon feeding and delivering to the world was the theme (I kinda like going grocery shopping, and eyeing the bargains. Whole Foods is nice but expensive).
Amazon ended the day up $23.54 or 2.44%. The immediate damage was to the likes Target (down -5.14%), Kroger (-9.24%), and Wal-Mart (-4.65%). The drug stores were also sharply lower on expectations they will be the next in the cross hairs. Honestly, that makes more sense to me if it means lower costs. I don't really care about delivery. The drug store is a mile away (I should walk there to get any prescriptions).
Anyway, the S&P is ending unchanged. The Dow is up. The Nasdaq is down.
- Dow up 24.38 to 21384.28 (+0.11%)
- S&P was up 0.69 points or 0.03% to 2433
- Nasdaq was down -13.74 points or -0.22% to 6151.75.
For the week,
- The Nasdaq is ending the week down -0.90%
- The S&P rose 0.06%
- The Dow was the big gainer at up 0.53%.