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Stocks in the red to close out the week

Major indices are trading lower Friday morning . The big news on the day is that Amazon.com (AMZN) has reached a deal to buy Whole Foods (WFM) for $13.7 billion, or $42 per share. The news sent shares of both companies higher, while driving shares of other grocer chains lower. Kroger (KR) is off 13.6%, extending yesterday’s sell off, while Wal-Mart (WMT) is off 6.4%. Wal-Mart made its own acquisition news this morning, announcing it would be buying online retailer Bonobos for $310 million.

West Texas Intermediate crude is trading up $0.30 a barrel at $44.76. At present, the S&P 500 is down 0.22%, the DJIA is down 0.17%, and the NASDAQ is down 0.23%.

Here are your Tuesday morning market metrics. Industries doing well today include energy, basic materials, and utilities. Industries showing weakness include financials, telecomm services, and cyclical consumer goods. The VIX is up 2.9% to 11.22 after closing on Thursday at 10.90. The most heavily traded options this morning are for the S&P 500 SPDR ETF (SPY), with 30,676 June 242 puts on the board. The total put/call ratio as of 10:00 AM was 0.83 (230,689/278,929). The advancers/decliners ratio for the NYSE is 1,270/1,560 and for the NASDAQ, 1,047/1,609.

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Michael Fowlkes

Michael Fowlkes is a financial writer who has been with the Fresh Brewed Media family since 2004. Over the course of his tenure with Fresh Brewed Media, he has worn many hats, including portfolio manager, options analyst, and writer. Michael received his undergraduate degree from Virginia Tech in Accounting and got his start in finance working as a stock trader for six years at Chase Investment Counsel in Charlottesville, Va.