Stocks are sharply higher on Wall Street, but as yesterday showed, that may not mean much by the end of the day. At this point the S&P 500 and Nasdaq could post their largest monthly fall since October 2008. A decline by the S&P 500 today would mark its first seven-day losing streak since November 2011. (CNBC)

Consolidation continues in the oil patch. Oilfield services company Schlumberger is buying Cameron International for $14.8 billion. Shares of Cameron, a provider of flow equipment products, is surging more than 40%. (Dow Jones)

The pain in oil is being seen ever more clearly. Transocean, an off shore drilling company, will cancel two quarterly dividend payments and take $2 billion in impairment charges in the face of falling crude oil prices. (AP)

Specialty truck maker Oshkosh has secured a $6.75 billion contract to replace the U.S. Army and Marine Corps' fleet of aging Humvees with 17,000 tactical vehicles. The value of the contract could grow to $30 billion as the two military branches seek to replace 55,000 vehicles in the future. (Reuters)

Now this is e-commerce. Amazon has launched one- and two-hour delivery of beer, wine and liquor in Seattle through its Prime Now service. Seattle is the first U.S. city to test out the booze-on-demand service following its June rollout in London. (Re/Code)