Investing.com -- Wall Street looks set to open on a negative note Wednesday, with second-quarter results from tech giants Alphabet stock slumped 8% after the German lender reported its first quarterly loss in four years, as it made a provision for an ongoing lawsuit over its Postbank division.
The API data, if confirmed by official inventory data due later in the session, showed inventories shrinking for a fourth consecutive week, as oil demand likely picked up with the travel-heavy summer season. Both contracts had lost between 5% and 7% over the previous three sessions, tumbling to their weakest levels since early-June.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events.
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