The Market In 5 Minutes: Jobless Claims, PPI, Buffett And IBM

IN THE NEWS

Fossil Group Inc FOSL shares soared higher by more than 60 percent Wednesday after the company shocked Wall Street and short sellers with better-than-feared fourth-quarter earnings and 2018 guidance. But while Fossil shareholders have a rare reason to celebrate, the huge move may not last for long: Link

Momentum and value are two of the most popular investment factors. Scores of exchange-traded funds offer access to momentum and value stocks, with many of these funds isolating the factors, though there are multifactor ETFs that feature both momentum and value stocks: Link

Global stocks continued their rebound Thursday as investors brushed off strong increases in U.S. inflation and instead focused on the solid economic fundamentals: Link $

Republicans opposed to the Affordable Care Act are showing interest in proposals to shore up the health law and lower premiums, driven partly by their concerns that any big jump in insurance costs may hurt them in the midterm elections: Link $

Europe’s justice commissioner told Facebook FB, Twitter TWTR and Google GOOGL on Thursday to do more to bring their user terms in line with EU law, saying proposals submitted by the tech giants were considered insufficient: Link

Hedge funds focused on trading cryptocurrencies more than doubled in the four months to Feb. 15, hitting a record high of 226, showed new data from fintech research house Autonomous NEXT on Thursday: Link

Warren Buffett is just about done with International Business Machines Corp. IBM: Link

ECONOMIC DATA

• Initial Jobless Claims for Feb 9 230.0K vs 230.0K Est; Prior 221.0K. Continuing Claims for Feb 2 1.94M vs 1.93M Est; Prior 1.92M
• PPI (MoM) for Jan 0.40% vs 0.40% Est; Prior -0.10%. PPI (YoY) for Jan 2.70% vs 2.50% Est; Prior 2.60%
• Philadelphia Fed Manufacturing Index for Feb 25.80 vs 21.10 Est; Prior 22.20
• NY Empire State Manufacturing Index for Feb 13.10 vs 17.50 Est; Prior 17.70
• The housing market index 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.
• The Treasury International Capital report will be released at 4:00 p.m. ET.
• Data on money supply for the recent week will be released at 4:30 p.m. ET.

ANALYST RATINGS

• Vertical Research upgraded SolarEdge SEDG from Hold to Buy
• Stephens upgraded Bunge BG from Equal-Weight to Overweight
• Loop Capital downgraded CSRA CSRA from Buy to Hold

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.