The Market In 5 Minutes: A Three-Decade Low For The Pound

Below is a tool used by the Benzinga News Desk each trading day -- it's a look at everything happening in the market, in five minutes. Apply for daily AM access by clicking here or email minutes@benzinga.com.

Macro Focus

Futures for the Dow Jones Industrial Average rose 15 points to 18,171.00, while the Standard & Poor’s 500 index futures gained 1 point to 2,154.00. Futures for the Nasdaq 100 index rose 6.25 points to 4,871.50.

Oil prices traded lower as Brent crude futures declined 0.75 percent to trade at $50.51 per barrel, while US WTI crude futures also fell 0.94 percent to trade at $48.35 a barrel.

The pound fell to a three-decade low against the dollar, trading below the levels it hit after Britain voted to leave the European Union in June. The currency has been under pressure since UK Prime Minister Theresa May provided some clarity over a Brexit timeline. However, there was also a lack of clarity regarding what the British economy would look like when it separates itself from the European Union.

• The Johnson Redbook Retail Sales Index for the latest week is schedule for release at 8:55 a.m. ET.
• The Treasury is set to auction 4-week bills at 11:30 a.m. ET.
• Chicago Federal Reserve Bank President Charles Evans will speak in Auckland, New Zealand at 8:00 p.m. ET.

BZ News Desk Focus

• Darden Restaurants DRI Q1 EPS $0.88, Revenue $1.71B vs. $1.54B est.; Raises FY Guidance From $3.80-$3.90 to $3.87-$3.97
• Monotype TYPE Sees FY16 Revenue Of $214.5M - $222.5M vs $205.01M Est, Cuts non-GAAP EPS To $0.85-$0.96 From $1.05-$1.13 Prior, vs $1.07 Est

Alphabet GOOGL GOOG is expected to unveil a variety of new devices on Tuesday, designed drive usage of and showcase the company’s best-in-class software services. According to Recode, the "most strategically important product" that will be shown is Google Home, an Amazon Echo competitor.

Sell-Side Themes

HubSpot HUBS received a pair of upgrades from Goldman Sachs and DA Davidson.

Brean assumed coverage of several biopharma stocks, putting Buy ratings on Alexion ALXN and Celldex CLDX, among others.

Sell-Side's Most Noteworthy Calls

• Raymond James downgraded Wells Fargo WFC to Underperform.
• Mizuho downgraded Depomed DEPO to Neutral.
• Guggenheim downgraded Splunk SPLK to Neutral.
• Bank of America upgraded Las Vegas Sands LVS to Buy.
• Morgan Stanley upgraded Plains All American PAA to Overweight.
• Wells Fargo upgraded CBOE Holdings CBOE to Outperform.
• Argus started United Rentals URI at Buy.

Deal Talk

Criteo CRTO announced it has signed a definitive agreement to acquire HookLogic. The acquisition of HookLogic and its leading advertising exchange for brands will strengthen Criteo's performance marketing platform.

Twitter TWTR is nowhere near fully valued in the market, and a buyout at a price less than $35 per share may not be in the company’s best interest, according to the Tech Stock Strategist.

In The News

There are a lot more apartments available for purchase these days in Manhattan. And fewer people are buying. Sales of previously owned condominiums and co-ops fell 20 percent in Q3 from a year earlier as potential buyers grew cautious amid more choices,

Virginia Democratic Sen. Tim Kaine and Indiana Republican Gov. Mike Pence are two mild-mannered politicians who will certainly present themselves differently than their running mates. Moderator Elaine Quijano of CBS News will try to engage them in their only debate, but their sparring is likely to revolve as much around the principal candidates as around the vice presidential contenders themselves. Tonight's debate starts at 9 p.m. ET on CBS.

Blogosphere

Ericsson ERIC plans to eliminate 3,000 jobs in Sweden as the maker of telecommunications equipment belatedly tries to reduce costs. These charts show the horrible scale of Ericsson's problem.

Trending

MU ARLZ GOOG NFLX NTNX DRI DUST JDST LVS ERIC UUP GLD

Julian Assange and #Wikileaks have promised promised "significant" disclosures on subjects including the U.S. election and Google in the coming weeks as the secret-spilling group marked its 10th anniversary on Tuesday. Maybe some #TrumpFinancialTips will be included?

Guess This Chart

• Shares rallied Wednesday morning on unconfirmed chatter that this company is going private.
• This stock hit an all-time high of $74.50 in May 1998.
• Sympathy plays include Bridgestone and Cooper Tire & Rubber.