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Amazon explores drug purchasing

The markets retreated during the midday with the Dow tumbling 91 points to 24,180. Nasdaq dropped 45 points to 6,828.


Amazon has engaged in early stage conversations with generic drug makers for potential business opportunities. No details have been revealed about the meetings with companies such as Mylan and Novartis unit Sandoz. Amazon is reportedly interested in drug purchasing.


Apple partnered with Stanford Medicine on the Apple Heart Study app which will monitor and detect irregular heart rhythms. A sensor in the Apple Watch will gather data at four different points on a user's wrist to determine the amount of blood that is flowing through the arm. A notification will be sent to users if an irregular heart rhythm is detected.


A proposed class action lawsuit against Capital One for collecting illegal overdraft fees was revived by an appeals court. A lower court had dismissed the case that accused the bank of breach of contract by wrongfully imposing overdraft fees when sufficient funds were in customer accounts to cover purchases. Capital One has maintained that the bank has sole discretion in processing checks, automatic payments and withdrawals on customer accounts.


In the broad market, declining issues were on par with advancers on the NYSE while decliners outpaced advancers by a margin of more than 5 to 3 on Nasdaq. The broader S&P 500 fell 11 points to 2,636. Bitcoin jumped $704 to $10,554.


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