The Market In 5 Minutes

IN THE NEWS

BENZINGA

As investors attempt to make sense of the tortuous path of driverless vehicles, who better to turn to than technology analyst Gene Munster? The Loup Ventures co-founder offered Benzinga a few tips on how to trade the autonomous vehicle theme: Link

Considering a strengthening labor market, solid job gains, rising household spending and expansion of business fixed investments, the Federal Open Market Committee of the Federal Reserve raised the target interest rate to between 1 and 1.25 percent Wednesday: Link

The Internal Revenue Service is reportedly trying to prove that marijuana businesses have been illegally trafficking in weed and aren't entitled to the tax deductions they have been claiming, several sources have reported: Link

THE WALL STREET JOURNAL

For billionaire investor David Bonderman, the controversy caused by a comment he made at an Uber Technologies Inc. employee meeting represents a low point in a career marked by big wins and the occasional high-profile stumble: Link

President Donald Trump’s firing of former FBI Director James Comey is now a subject of the federal probe being headed by special counsel Robert Mueller, which has expanded to include whether the president obstructed justice, a person familiar with the matter said: Link

Baidu Inc. BIDU is among China’s tech giants looking to get a leg up in the competitive financial services market. Credit-rating companies aren’t so sure it’s a good idea: Link

REUTERS

Western Digital Corp WDC has sought a court injunction to prevent Toshiba Corp from selling its chip business without the U.S. firm's consent - a move that threatens to throw the fiercely contested auction into disarray: Link

Greece's international lenders are expected to agree on Thursday to unblock as much as 8 billion euros in loans that Athens desperately needs to next month to pay its bills, but to leave the contentious issue of debt relief for later: Link

BLOOMBERG

The person most likely to be Federal Reserve chair when Janet Yellen's term expires in February is… Janet Yellen: Link

The shooting of a Republican lawmaker known for his support for gun rights sparked alarm among GOP colleagues, with some calling for lawmakers to carry weapons and others saying the attack doesn’t justify tighter firearms restrictions: Link

NY POST

SeaWorld’s SEAS chairman may soon get released into the wild: Link

ECONOMIC DATA

• USA Initial Jobless Claims for Jun 10 237.0K vs 242.0K consensus estimate. The prior reading was 245.0K.
• USA Philadelphia Fed Manufacturing Index for Jun 27.60 vs 24.00 consensus estimate. USA Export Prices (MoM) for May -0.70 vs 0.10% consensus estimate.
• USA Import Prices (MoM) for May -0.30% vs -0.10% consensus estimate. The prior reading was 0.50%.
• USA NY Empire State Manufacturing Index for Jun 19.80 vs 4.00 consensus estimate. The prior reading was -1.00.
• Data on industrial production for May will be released at 9:15 a.m. ET.
• The housing market index for June is schedule for release at 10:00 a.m. ET.
• The Energy Information Administration’s weekly report on natural gas stocks is schedule for release at 10:30 a.m. ET.
• The Treasury International Capital data for April will be released at 4:00 p.m. ET.
• Data on money supply for the recent week will be released at 4:30 p.m. ET.

ANALYST RATINGS

• Macquarie upgraded Thomson Reuters TRI from Neutral to Outperform
• Morgan Stanley upgraded La Quinta LQ from Equal-Weight to Overweight
• Morgan Stanley upgraded Enterprise Production Partners EPD from Equal-Weight to Overweight
• Canaccord downgraded Google GOOGL from Buy to Hold
• Morgan Stanley downgraded Sprouts Farmers Market SFM from Overweight to Equal-Weight
• Jefferies downgraded Healthcare Realty Trust HR from Buy to Hold

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.