The Market In 5 Minutes: First Jobs Loss In 7 Years, But Unemployment Rate Ticks Lower

IN THE NEWS

Benzinga

What’s the price of better content? About $12 a year for Netflix, Inc. NFLX subscribers.: Link

Investors will soon be treated with the third largest technology related initial public offering, Bloomberg reported. Switch Inc. (SWHC), a data center company, will be selling 31.25 million shares of its own stock at a price of $14 to $16 per share. The high end of the offering would value the "unicorn" at around $4 billion: Link

Wall Street Journal

President Donald Trump is expected to refuse to certify that Tehran is complying with the 2015 international nuclear agreement, as part of a broader policy change on Iran to be set out as early as next week, people familiar with the deliberations said: Link

On the Monday morning after Amazon.com AMZN failed to win a single prize at the Primetime Emmy Awards, one of its senior television executives gathered his dejected staff at their Los Angeles-area office for a pep talk: Link

Reuters

An unexpected helping hand from creditors, landlords and vendors is allowing more U.S. retailers to stay in business following bankruptcy with most of their stores and employees in the fold: Link

Disagreement among U.S. congressional Republicans is already swirling around a tax cut plan unveiled days ago by President Trump, with disputes over proposals to repeal a deduction for state and local tax payments and repeal the tax on inheritances: Link

Bloomberg

While the U.S. job market’s solid run in 2017 was probably curbed last month by forces most economists couldn’t predict, any weakness is likely to be short-lived: Link

Don’t expect the U.S. Treasury market to go back to “normal” once the Federal Reserve starts reducing its crisis-era debt investments: Link

ECONOMIC DATA

• Nonfarm Payrolls for Sep -33.0K vs 90.0K Est, Private Payrolls for Sep -40.0K vs 83.0K Est; Unemployment Rate for Sep 4.20% vs 4.40% Est
• Atlanta Federal Reserve Bank President Raphael Bostic is set to speak in Austin at 9:15 a.m. ET.
• Data on wholesale trade inventories for August will be released at 10:00 a.m. ET.
• New York Federal Reserve Bank President William Dudley will speak in New York at 12:15 p.m. ET.
• Dallas Federal Reserve Bank President Robert Kaplan is set to speak in Austin at 12:45 p.m. ET.
• The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET.
• St. Louis Federal Reserve Bank President James Bullard will speak in St. Louis at 1:50 p.m. ET.
• Data on consumer credit for August will be released at 3:00 p.m. ET.

ANALYST RATINGS

• Jefferies downgraded Orbital ATK OA from Buy to Hold
• Goldman Sachs downgraded Albemarle ALB from Buy to Neutral
• Morgan Stanley downgraded Walgreens Boots Alliance WBA from Overweight to Equal-Weight
• Atlantic upgraded Anadarko APC from Hold to Overweight
• Piper Jaffray upgraded Kraft Heinz KHC from Neutral to Overweight

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.