Amazon Makes A Bold Move

Hello MarketClub members everywhere. I expected the market to react in a positive light when it was announced that Inc. (NASDAQ:AMZN) would buy Whole Foods Market Inc. (NASDAQ:WFM) for 13.6 Billion dollars. However, that was not the case.

The likes of Wal-Mart Stores Inc. (NYSE:WMT), The Kroger Co. (NYSE:KR), Sprouts Farmers Market Inc. (NASDAQ:SFM), and so on are down significantly on the day. Which of course is putting pressure on the overall market. What do you think about the announcement?

MarketClub's Mid-day Market Report

Crude Oil is up on the day, but it's still 2.5% lower for the week. That would be its longest run of weekly losses since August of 2015. This comes as OPEC member Libya restored production and the surplus in the U.S. shows little sign of abating.

Key levels to watch next week:
S&P 500 (CME:SP500): 2,403.59
Dow (INDEX:DJI): 20,942.57
Gold (NYMEX:GC.Q17.E): 1,281.70
Crude Oil (NYMEX:CL.Q17.E): 46.68
U.S. Dollar (NYBOT:DX.M17.E): 97.70

Every Success,
Jeremy Lutz and

One thought on “Amazon Makes A Bold Move

  1. It shouldn't make that big an actual difference , at least initially. What remains to be seen is how Amazon will change Whole Foods marketing and production-not just delivery and financing.

    I believe the reaction shown is overdone. We should adopt a wait and see attitude instead of huge speculation.

    There may be some consolidation in this area of our economy to offset some of Amazon's size/impact. Let's give the competition a chance. They've been in this market a very long time.

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