STOCKS NEWS: Jobs, Fed Minutes Brief, Amazon’s Grubhub Deal

Developing story

Dow leads the market downturn

Symbol Price To change %To change
CLC $142.66 -3.85 -2.63%
CAT $173.76 -4.53 -2.54%
BA $137.70 -2.14 -1.53%

Dow laggards include Chevron, Caterpillar and Boeing.

Dow Jones averages.

$

30837.87

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Stocks muted ahead of jobs data, Fed minutes

United States Petroleum Fund L P.

$

74.78

U.S. stocks edged higher in early trading as investors await the latest reading on jobs via the JOLT report and ahead of Federal Reserve minutes, due at 2 p.m., for further clues on the economy. . In commodities, oil continued to slide, trading at the $87/barrel level.

Symbol Price To change %To change
Me: DJI $31,016.82 +49.00 +0.16%
SP500 $3,834.05 +2.66 +0.07%
I: COMP $11,294.25 -27.99 -0.25%

Stock futures are trading lower on fears of recession

US stock futures were down after a tepid trading session on Wall Street amid concerns about a global recession.

Traders and investors will get a preview on Wednesday afternoon of the Federal Reserve’s decision last month to raise interest rates when the minutes of the last meeting are released.

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Amazon partners with Grubhub

Symbol Price To change %To change
AMZN $113.50 +3.94 +3.60%

Amazon.com has agreed to add Grubhub to its suite of Prime services in the US, in a deal that also gives the e-commerce giant the chance to acquire a small stake.

Grubhub’s parent company, Netherlands-based Just Eat Takeaway.com NV, said Amazon has an initial option to take a 2% stake in US-based Grubhub, and US Prime members may be waived their delivery charges at certain restaurants.

Gasoline prices continue to fall

The price of a gallon of regular gasoline slid Wednesday morning to $4,779, according to AAA. The price on Tuesday was $4.80. The gas has been declining for 19 consecutive days. Diesel also slipped to $5.716 from $5.726

OPEC Secretary General Barkindo dies at 63

The secretary general of the group of oil producers OPEC, Mohammad Barkindo, has died, according to Reuters. The news was announced by Mele Kyari, the boss of the Nigerian National Petroleum Corp (NNPC). Barkindo, 63, was due to step down at the end of this month after six years at the helm of OPEC. After leaving OPEC, Barkindo was to join the Atlantic Council’s Global Energy Center US think tank as a Distinguished Fellow.

Oil prices rebound after Tuesday’s plunge

Oil prices rose Wednesday morning, rebounding from a selloff. United States West Texas Intermediate (WTI) crude trades at $100 a barrel, after closing below that point for the first time since late April. Brent crude futures were trading at $104 a barrel after falling 9.5% on Tuesday, the biggest daily decline since March.

Bitcoin is trading around $20,000

Bitcoin traded around $20,000, gaining back-to-back days into Wednesday. The cryptocurrency has gained more than 7% over this period. Bitcoin is down more than 55% year-to-date and more than 69% from its all-time high in November. Ether is trading above $1,100. Dogecoin is 6 cents.

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