Oil prices have fallen for 7 straight weeks--their largest decline since 2018. The price weakness continues this morning amid concerns of an oil oversupply and weaker expected demand next year. The U. S. benchmark, West Texas Intermediate, is down one percent to $70.50 dollars per barrel.
A mega-deal in the health-insurance sector is no more. Cigna says it has ended its attempt to acquire rival Humana after the two failed to agree on the price. A Cigna-Humana merger would’ve created a company with a value of more than 140-billion-dollars, certain to attract scrutiny from regulators. A deal would’ve enabled the two healthcare giants to better compete with larger companies like United Health and CVS Health.
On Wall Street, futures are little changed as the market kicks off a busy week with new inflation data due Tuesday and the Federal Reserve meeting Wednesday for the final time this year.
