The Market In 5 Minutes

IN THE NEWS

Benzinga

Apple Inc. AAPL delivered a big third-quarter earnings beat after Tuesday's close, its last report before its newest iPhone is projected to be released: Link

President Donald Trump is expected to announce whether the United States will limit or ban oil from its third-biggest exporter, Venezuela, a country of 31 million people that has descended into dictatorship and disorder: Link

For many investors, the biggest hurdle is lack of confidence. Getting an investment idea is one thing, but knowing whether others agree or disagree can be the difference between investing in a stock and not: Link

Wall Street Journal

Major health insurers in some states are seeking increases as high as 30% or more for premiums on 2018 Affordable Care Act plans, according to new federal data that provide the broadest view so far of the turmoil across exchanges as companies try to anticipate Trump administration policies: Link

OPEC and other big oil producers are facing a new high-wire act: how to keep the oil market calm if they decide to lift their output curbs and ramp production back up: Link

Reuters

Japanese conglomerate Toshiba Corp's talks to sell its prized memory chip business have stalled, raising concerns over how fast the company can plug a multi-billion-dollar balance sheet hole left by the collapse of its U.S. nuclear business: Link

Sean Spicer still plans to leave the White House in late August, a senior White House official said on Tuesday, ending speculation that he might stay on after the firing of former communications director Anthony Scaramucci: Link

Bloomberg

It’s been a tough few months in Detroit. After seven years of gangbuster sales, the U.S. auto market is skidding badly: Link

Banks may need to find $30 billion to $50 billion of additional capital to support new European units in the aftermath of a hard Brexit, and some smaller firms may abandon their operations on the continent altogether as profitability plunges, according to Oliver Wyman Inc: Link

New York Post

The New York insurance company that wrote policies for 800,000 questionable Wells Fargo WFC auto loans has been dragged into the bank’s latest scandal: Link

ECONOMIC DATA

• MBA Mortgage Applications for Week Ending July 28 (2.8%)
• USA ADP Employment Change for Jul 178.0K vs 185.0K consensus estimate. The prior reading was 158.0K.
• The Energy Information Administration’s weekly report on petroleum inventories in the U.S. is schedule for release at 10:30 a.m. ET.
• Cleveland Federal Reserve Bank President Loretta Mester is set to speak in Cincinnati at 11:00 a.m. ET.
• San Francisco Federal Reserve Bank President John Williams will speak in Las Vegas at 3:30 p.m. ET.

ANALYST RATINGS

• Baird upgraded Allison Transmission ALSN from Neutral to Outperform
• Goldman Sachs upgraded Royal Caribbean RCL from Sell to Neutral\
• Wells Fargo downgraded Pioneer Natural Resources PXD from Outperform to Market Perform
• Credit Suisse downgraded Burlington Coat Factory BURL from Outperform to Neutral
• Deutsche Bank downgraded Big 5 Sporting Goods BGFV 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.