The Market In 5 Minutes

IN THE NEWS

Benzinga

Generation Z is growing up with an aversion to alcohol, in part because its members don’t want to look wasted when they take selfies with their fancy smartphones: Link

With buzzing capital markets, New York and Chicago have long been Meccas for aspiring financial leaders. Centered around their stock and option exchanges, the cities’ capital markets lured fresh talent looking to make a name in the financial sector: Link

Digital is emerging as the frontrunner among an assortment of media consumption, and consequently, traditional media is at risk of becoming a dying breed: Link

Wall Street Journal

Tropical Storm Maria became Hurricane Maria Sunday, casting a long shadow of fear and uncertainty over a swath of the Caribbean that was slammed by Hurricane Irma less than two weeks ago: Link

President Donald Trump’s top economic adviser is expected to outline the administration’s proposals to reduce greenhouse-gas emissions while restating that its stance on the Paris climate accord has not changed, White House officials said, following signals over the weekend that the U.S. was exploring ways to remain in the 2015 pact: Link

A Canadian union failed to reach an agreement on a new contract with General Motors GM and its members will strike, labor leaders said late Sunday, threatening to crimp supply of the auto maker’s top-selling SUV: Link

Reuters

World stocks hit a record high on Monday and the dollar reached an eight-week peak against the yen on expectations that the U.S. Federal Reserve will this week announce trimming of its balance sheet, part of a reversal of cheap money worldwide: Link

The U.S. military staged bombing drills with South Korea over the Korean peninsula and Russia and China began naval exercises ahead of a U.N. General Assembly meeting on Tuesday where North Korea’s nuclear threat is likely to loom large: Link

Bloomberg

Here’s what we know about the details of the tax reform plan: almost nothing: Link

Janet Yellen, the first woman to chair the Federal Reserve, may be entering the final stretch of a tenure defined by her deft navigation of the U.S. economy and the first steps toward exiting crisis-era policies that kept interest rates near zero for the better part of a decade: Link

ECONOMIC DATA

• The housing market index for September is schedule for release 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 July will be released at 4:00 p.m. ET.

ANALYST RATINGS

• UBS upgraded Caterpillar CAT from Neutral to Buy
• Goldman Sachs upgraded Infosys INFY from Sell to Neutral
• RBC upgraded Applied Materials AMAT from Sector Perform to Outperform
• Piper Jaffray downgraded Finish Line FINL from Neutral to Underweight
• DA Davidson downgrades Super Micro Computer SMCI from Buy 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.