Wall Street opens lower as wholesale prices drop, oil slumps amid US-Iran deal hopes

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Times of India 7h ago

Wall Street opens lower as wholesale prices drop, oil slumps amid US-Iran deal hopes - Times of India

Quick Summary:

International Business News: Wall Street slipped Thursday morning as markets digested a surprise drop in US wholesale prices and oil tumbled on growing optimism over a potential n.

Meanwhile, Foot Locker shares surged more than 80% to $23.57 after Dick’s Sporting Goods announced it would acquire the struggling footwear chain for $2.4 billion, its second major acquisition in as many weeks.Dick’s shares fell 8.5%.

The surprise deflationary reading was driven largely by a 0.7% drop in service prices, the biggest since government tracking began in 2009, amid thinning profit margins at retailers and wholesalers.