The Market In 5 Minutes

IN THE NEWS

BENZINGA

Walt Disney Co DIS shares were up last week following a report from RBC Capital discussing all the reasons why an Apple Inc. AAPL buyout of Disney would make sense. While Disney investors would certainly love a buyout at a premium to market price, investors should make sure not to overlook the caveats RBC provided in its note as well: Link

It’s understandable for early Twitter Inc TWTR investors to harbor a certain level of resentment toward Facebook Inc FB. The companies had two of the largest and most highly-publicized IPOs in history, and they remain two of the most popular and well-known social media brands to this day: Link

The West Coast/California drought has finally ended, with Gov. Jerry Brown lifting the drought emergency in most parts of California, barring a few San Joaquin Valley counties. Does this mark the all clear for investors in the agriculture sector? Link

THE WALL STREET JOURNAL

U.S. Vice President Mike Pence warned North Korea not to push President Donald Trump, calling the recent American military strikes on Syria and Afghanistan an example of Washington’s strength: Link

The Federal Reserve is moving quickly to fill in the details of how it will wind down its securities holdings in the years ahead, a process that could start this year and become the next big challenge for investors grown accustomed to easy money from the world’s most important central bank: Link

REUTERS

Apple has secured a permit to test autonomous vehicles in California, fueling speculation that it is working on self-driving car technology in a crowded arena of companies hoping to offer those cars to the masses: Link

Cleveland police urged a suspect who they said posted video of himself on Facebook killing an elderly man on Sunday to turn himself in to authorities: Link

In 10 days, the U.S. Federal Communications Commission will lift a ban on telecoms companies engaging in merger talks, and Wall Street is betting on T-Mobile US Inc TMUS, Sprint Corp S and Dish Network Corp DISH to be the first ones out of the gate: Link

BLOOMBERG

Ant Financial raised its agreed offer for MoneyGram International Inc. MGI by 36 percent as the financial-services company controlled by Chinese billionaire Jack Ma tries to top a competing offer and overcome security concerns: Link

More and more Americans are waiting until the very last minute to do their taxes: Link

NY POST

Forget subprime mortgages — one of Wall Street’s biggest risks doesn’t even show up on most banks’ balance sheets: Link

ECONOMIC DATA

• The housing market index for April will be released at 10:00 a.m. ET.
• The Treasury is set to auction 3-and 6-month bills at 11:30 a.m. ET.
• The Treasury International Capital data for February is schedule for release at 4:00 p.m. ET.
• Federal Reserve Vice Chairman Stanley Fischer is set to speak in New York City at 5:00 p.m. ET.

ANALYST RATINGS

• Wells Fargo upgraded McDonald's MCD from Market Perform to Outperform
• PiperJaffray downgraded Incyte INCY from Overweight to Neutral

This 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. To get the full version of this note every morning, click here or email minutes@benzinga.com.