Amazon jumps following report it's planning to expand Whole Foods across the US

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Amazon jumps following report it's planning to expand Whole Foods across the US

  • Amazon rose early Monday after a report said it was planning to open more Whole Foods stores across the US to place more customers within range of Prime Now's two-hour delivery service.
  • The report did not detail exactly how many Whole Foods stores Amazon was planning to open and expand.
  • Watch Amazon trade live.



Amazon rose more than 2% early Monday, to more than $1,509 a share, after a report said it planned to open more Whole Foods locations across the United States.

The push would place more customers within range of Amazon's two-hour delivery service, Prime Now, The Wall Street Journal reported, citing people familiar with the plans. 

Both retailers declined to comment to The Journal on new store construction and spending, though one person familiar with the plans said Whole Foods employees have visited "potential retail spaces in parts of Idaho, southern Utah and Wyoming, where the grocer doesn’t have stores now."

Read more: Amazon has plans to open even more Whole Foods stores, and it shows the e-commerce giant has no intention to slow down its push into physical retail

Whole Foods currently has more than 350 retail and non-retail locations in the US, Canada, and the UK. Amazon bought Whole Foods in 2017 for $13.5 billion after Whole Foods had courted seven potential partners for a deal.

Amazon shares have climbed 25% in 2018, though they are down 28% since hitting an all-time high of $2,050.50 in early September.

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10 things you need to know before the opening bell

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10 Things Before the Opening Bell
 
 

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  1. Trump touts progress on trade talks with China. "Just had a long and very good call with President Xi of China," President Donald Trump tweeted Saturday. "Deal is moving along very well. If made, it will be very comprehensive, covering all subjects, areas and points of dispute. Big progress being made!"
  2. Stocks are headed for their worst December since the Great DepressionThe S&P 500 will book its worst December since 1931 if it closes below 2,594.56, according to CNBC. It's on track to open up 21 points at 2,506 on Monday.
  3. China's manufacturing sector contracts for the first time in 2 yearsChina's official manufacturing purchasing managers' index printed at 49.4 for December, its weakest since February 2016. 
  4. The global economy is on an 'irreversible path' to a downturnThe credit cycle is heading toward a plateau and then a downturn, according to Naka Matsuzawa, chief Japan rates strategist at Nomura.
  5. Minimum wage will increase in 21 states and DC in 2019. Washington, DC, will have a $14 an hour minimum wage — the highest in the country — when it increases by $0.75 on July 1. 
  6. Nissan's disgraced former chairman remains in Japanese custody. Former Nissan Chairman Carlos Ghosn will remain in a Tokyo jail until January 11 after a court extended his stay in the wake of new allegations of financial conduct, The Asian Nikkei Review reports. Ghosn has denied the allegations. 
  7. Amazon is planning to expand Whole FoodsEmployees of the grocery chain have visited parts of Western North America to look for potential store locations that would allow more customers to be within Prime Now's two-hour delivery-service range, the Wall Street Journal says.  
  8. If you're celebrating with premium vodka on New Year's, don't put it in the freezerPutting cheap vodka in the freezer hides any "aggressive, burning notes," but storing premium vodka there will block its aromas and flavors, Francois Thibault, the creator of Grey Goose vodka, told Business Insider. 
  9. US economic data trickles out. Dallas Fed Manufacturing will be released at 10:30 a.m. ET. The US 10-year yield is up 1 basis point at 2.73%. 
  10. Markets around the world are closed Tuesday for New Year's Day. Most will reopen on Wednesday. 
 
 
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