The Market In 5 Minutes: Adidas, Jobless Claims, And More

IN THE NEWS

In one of the most tumultuous years in athleticwear in recent memory, adidas AG (ADR) ADDYY has emerged as an industry leader: Link

Following Intel and Advanced Micro Devices, it's now NVIDIA Corporation NVDA's turn to roll out its quarterly financial scorecard: Link

For the third time since its IPO earlier this year, Snap Inc SNAP stock tanked on Wednesday following a disappointing earnings report. With Snap down 16 percent on the day, plenty of Wall Street analysts weighed in on whether it’s time to buy the dip or investors should not try to catch the falling knife: Link

Republicans scrambled Wednesday to prevent a potential Democratic wave in next year’s midterm elections after a political shellacking Tuesday fueled by opposition to President Donald Trump: Link

President Trump can return to the United States claiming to have snagged over $250 billion in deals from his maiden trip to Beijing. Whether those deals live up to the lofty price tag is another question altogether: Link

It’s crunch time for Republican tax-writers on Thursday. The House Ways and Means Committee enters its final day of hammering out its tax-cut legislation, while a Senate panel plans to reveal its own version. Here are the latest developments, updated throughout the day: Link

The Saudi purge isn't just a power grab: Link

ECONOMIC DATA

• Initial Jobless Claims for Nov 3 239.0K vs 231.0K Est; Continuing Claims for Oct 27 1.90M vs 1.89M Est
• Data on wholesale trade inventories for September will be released 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.
• The Treasury is set to auction 30-year bonds at 1:00 p.m. ET.
• Data on money supply for the recent week will be released at 4:30 p.m. ET.

ANALYST RATINGS

• Barclays upgraded NetApp NTAP from Underweight to Overweight
• Deutsche Bank upgraded T-Mobile TMUS from Hold to Buy
• JP Morgan upgraded Alnylam Pharmaceuticals ALNY from Neutral to Overweight
• Morgan Stanley downgraded Snap from Equal-Weight to Underweight
• Canaccord downgraded The Meet Group MEET from Buy to Hold
• Mizuho downgraded Quintiles Q 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.