Wall Street flat in early trading, oil prices tumble again on China weakness
NEW YORK - Wall Street was flat in premarket trading and oil prices slid again Tuesday on signs of economic weakness in China, where a lack of specifics on a stimulus package continued to drag down markets there.
Walgreens Boots Alliance jumped 5% after the drugstore chain said it plans to close about 1,200 locations over the next three years in an attempt to turnaround its struggling U.S. business. Walgreens expects to close about 500 stores this fiscal year, which it said would boost its adjusted earnings and free cash flow.
U.S. benchmark crude dropped $3.17, or 4.3%, to $70.66 per barrel. Brent crude, the international standard, slipped $3.08 to $74.38 per barrel. Besides oil, prices also have been falling for copper and other commodities that a healthy Chinese economy would normally devour. Weaker than expected data on lending and prices have undermined already fragile market sentiment that has wavered as investors await fresh details on the government plans for stimulus to help rev up the economy.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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