The Market In 5 Minutes: Nonfarm Payrolls Miss Estimates, Apple's Safari Patch, Kalanick's Reduced Uber Stake

IN THE NEWS

Snap SNAP vs Twitter TWTR: Who will thrive in 2018?: Link

Pot stocks took a hit Thursday after U.S. Attorney General Jeff Sessions was reported to be rolling back the Cole Memo, an Obama-era policy diminishing federal interference in state-sanctioned cannabis operations: Link

The Trump administration is asking Congress for nearly $18 billion to construct more than 700 miles of new and replacement barriers along the southwest border, offering its most detailed description yet of the president’s vision for a border wall with Mexico: Link $

President Trump’s growing feud with Steve Bannon is threatening the former White House strategist’s leadership of the conservative Breitbart News website and upending Mr. Bannon’s plans to wage “war” on party incumbents he deemed insufficiently loyal to the White House agenda: Link $

Travis Kalanick plans to sell 29 percent of his shares in Uber Technologies Inc., the ride-hailing giant he co-founded, as part of a broader investment deal led by SoftBank Group Corp., people familiar with the matter said: Link $

Apple Inc AAPL will release a patch for the Safari web browser on its iPhones, iPads and Macs within days, it said on Thursday, after major chipmakers disclosed flaws that leave nearly every modern computing device vulnerable to hackers: Link

Bulls remained in the driver’s seat as emerging markets kicked off 2018 with one of the best starts since the beginning of the millennium: Link

Global debt rose to a record $233 trillion in the third quarter of 2017, more than $16 trillion higher from end-2016, according to an analysis by the Institute of International Finance. Private non-financial sector debt hit all-time highs in Canada, France, Hong Kong, South Korea, Switzerland and Turkey: Link

ECONOMIC DATA

• Nonfarm Payrolls for Dec 148.0K vs 190.0K Est; Prior 228.0K. Private Payrolls for Dec 146.0K vs 185.0K Est; Prior 221.0K
• Unemployment Rate for Dec 4.10% vs 4.10% Est; Prior 4.10%
• The ISM non-manufacturing index for December is schedule for release at 10:00 a.m. ET.
• Philadelphia Federal Reserve Bank President Patrick Harker is set to speak in Philadelphia at 10:15 a.m. ET.
• Cleveland Federal Reserve Bank President Loretta Mester will speak in Philadelphia at 12:30 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.

ANALYST RATINGS

• Jefferies upgraded Kroger KR from Hold to Buy
• Morgan Stanley upgraded CVS CVS from Equal-Weight to Overweight
• Goldman Sachs upgraded Xilinx XLNX from Neutral to Conviction Buy
• Wells Fargo downgraded Teva TEVA from Market Perform 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.