IN THE NEWS
Benzinga
There are several old adages related to the markets. One commonly mentioned at this time of the of year, just ahead of the Jewish holidays, is "Sell Rosh Hashanah, Buy Yom Kippur.": Link
Having already laid the groundwork with two interest rate hikes this year, the Federal Open Market Committee took an unprecedented step to tighten its monetary policy Wednesday: Link
Wall Street Journal
Standard & Poor’s lowered China’s sovereign credit rating, joining a growing chorus of alarm over the nation’s soaring debt levels despite government pledges to fend off financial risks: Link
Opponents of a Republican plan to dismantle most of the Affordable Care Act are scrambling to ramp up a resistance campaign before a possible Senate vote next week on a bill many never expected would gain traction: Link
Reuters
Alphabet Inc’s GOOGL Google said it would pay $1.1 billion for the division at Taiwan’s HTC Corp that develops the U.S. firm’s Pixel smartphones - its second major foray into phone hardware after an earlier costly failure: Link
Apple Inc AAPL on Wednesday conceded its latest smartwatch unveiled a week ago has problems with its most important feature: the ability to make phone calls and access data without an iPhone nearby: Link
Bloomberg
By 2030, the eastern German town of Poedelwitz will likely be razed to get at the rich veins of coal beneath its half-timbered houses. The reason: Chancellor Angela Merkel’s effort to steer Germany toward greener energy: Link
It’s been a bad few weeks for natural disasters. A series of hurricanes ripped through Texas, Florida, and the Caribbean, killing hundreds and racking up hundreds of billions of dollars in damage. Wildfires are raging in the Western U.S., and a pair of powerful earthquakes have battered Mexico: Link
ECONOMIC DATA
- USA Initial Jobless Claims for Sep 15 259.0K vs 300.0K Est; Prior 284.0K
- USA Philadelphia Fed Manufacturing Index for Sep 23.80 vs 17.20 Est; Prior 18.90
- USA FHFA House Price Index (MoM) for Jul 0.20% vs 0.40% Est
- The index of leading economic indicators for August is schedule for release at 10:00 a.m. ET.
- The Energy Information Administration’s weekly report on natural gas stocks in underground storage is schedule for release at 10:30 a.m. ET.
- Data on money supply for the recent week will be released at 4:30 p.m. ET.
ANALYST RATINGS
- Morgan Stanley upgraded Catalent CTLT from Equal-Weight to Overweight
- Morgan Stanley upgraded Entergy ETR from Underweight to Equal-Weight
- Raymond James downgraded PRA Group PRAA from Market Perform to Underperform
- DA Davidson downgraded Jakks Pacific JAKK from Neutral to Underperform
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.