The Market In 5 Minutes

IN THE NEWS

BENZINGA

The man considered the father of modern financial analytics believes there is a fintech bubble: Link

Snap Inc SNAP is scheduled to report its first earnings report as a public company after Wednesday's market close. Here's the sell-side sentiment ahead of earnings: Link

Sen. Daylin Leach (D–Montgomery, Penn.) recently acquired notoriety after engaging in a social media standoff with President Donald Trump. But, this active lawmaker can't be reduced to a simple beef with the president; Leach is an activist, a defender of the cannabis legalization cause: Link

THE WALL STREET JOURNAL

Coca-Cola Co. KO’s new chief executive wants the company to shake off a culture of cautiousness that has dogged the soda giant for more than a century: Link

Central banks have been the world’s biggest buyers of government bonds and may soon turn into sellers—a tidal shift for global markets. Yet investors can’t agree on what that shift will mean: Link

REUTERS

A decline in subscribers and higher programming costs at cash-cow ESPN weighed on shares of Walt Disney Co DIS on Tuesday, overshadowing a quarterly profit that topped Wall Street estimates: Link

Eight Democratic senators asked U.S. regulators on Tuesday to launch an investigation into billionaire Carl Icahn’s activities in the U.S. biofuels blending credit market, saying the activist investor may have violated trading laws since becoming an adviser to President Donald Trump: Link

President Trump ignited a political firestorm on Tuesday by firing FBI Director James Comey, who had been leading an investigation into the Trump 2016 presidential campaign's possible collusion with Russia to influence the election outcome: Link

BLOOMBERG

Apple Inc. AAPL became the first U.S. company with a market value of more $800 billion as investors bet the next iPhone will spur a resurgence in sales: Link

NY POST

Yet another retailer is blaming Amazon AMZN for its woes — this time in the plus-size apparel niche: Link

ECONOMIC DATA

• Data in import and export prices for April will be released at 8:30 a.m. ET.
• The Energy Information Administration’s weekly report on petroleum inventories is schedule for release at 10:30 a.m. ET.
• Boston Federal Reserve Bank President Eric Rosengren is set to speak in South Burlington, VT at 12:30 p.m. ET.
• The Treasury will auction 10-year notes at 1:00 p.m. ET.
• Minneapolis Federal Reserve Bank President Neel Kashkari will speak in Minneapolis, MN at 1:20 p.m. ET.
• The Treasury budget data for April is schedule for release at 2:00 p.m. ET.

ANALYST RATINGS

• Piper Jaffray Upgraded Depomed DEPO from Underweight to Neutral
• Vertical Research Upgraded Northrop Grumman NOC From Hold to Buy
• JP Morgan Upgrades Occidental Petroleum OXY From Underweight to Neutral
• Cowen Downgraded U.S. Steel X from Outperform to Market Perform
• Goldman Sachs Downgraded Allergan AGN from Buy to Neutral
• Bernstein Downgraded General Dynamics GD fromOutperform to Market Perform

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.