The Market In 5 Minutes: Border Wall, Allscripts Cyber Attack, Tesla's New Pay Plan

IN THE NEWS

There are certainly plenty of things to criticize about President Donald Trump’s first year in office, but stock market performance isn't one of them. Trump has repeatedly taken credit for the huge bull market that continued during his first year at the White House: Link

A ransomware attack on Allscripts Healthcare Solutions Inc MDRX 's cloud has cost one private practice “in the $1,000s” and in reputation since the electronic health records were seized Jan. 18: Link

U.S. companies rich in intellectual property are looking at a new tax-friendly regime: the U.S.: Link $

Once they were mentor and protégé. Now Daniel Och and James Levin are trapped in a battle for the future of one of New York’s biggest investment firms: Link $

Democrats said on Tuesday they had withdrawn an offer to fund U.S. President Donald Trump’s border wall, as tough negotiations over the future of young illegal immigrants known as “Dreamers” resumed in the Senate: Link

Silicon Valley billionaire Elon Musk could earn as much as $55.8 billion in Tesla Inc TSLA stock and own more than a quarter of the electric car company in the next decade if he hits all targets of a bold new pay plan: Link

The influential Koch political network is urging President Donald Trump to reject a proposal made by the U.S. Chamber of Commerce to increase the federal gas tax to help modernize American roads, bridges and other infrastructure: Link

New York state lawmakers could punch a $50.6 billion hole in the federal government’s budget by revamping their state income tax: Link

In another Clydesdale-size kick in its can, Budweiser BUD is no longer among the top three best-selling beer brands in America, according to an industry report on Tuesday: Link

ECONOMIC DATA

• US MBA mortgage applications w-e 19 Jan +4.5% vs +4.1% prev
• USA FHFA House Price Index (MoM) for Nov 0.40% vs 0.40% Est; House Price Index (YoY) for Nov 6.50% vs 6.60% Prior
• The flash Composite Purchasing Managers' Index for January is schedule for release at 9:45 a.m. ET.
• Data on existing home sales for December will be released at 10:00 a.m. ET.
• The Energy Information Administration’s weekly report on petroleum inventories is schedule for release at 10:30 a.m. ET.
• The Treasury is set to auction 5-year notes at 1:00 p.m. ET.

ANALYST RATINGS

• Longbow upgraded Meritor MTOR from Neutral to Buy
• Jefferies upgraded McKesson MCK from Hold to Buy
• Cowen downgraded Puma Biotechnology PBYI from Outperform to Market Perform
• Morgan Stanley downgraded Range Resources RRC from Equal-Weight to Underweight

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.