The Market In 5 Minutes: AXA Buys XL Group, Biotech Preview, Small Banks

IN THE NEWS

The upcoming week has to plenty to offer by way of catalysts that can make or break a stock. Stay tuned to these key biotech catalysts for profitable investing in the space: Link

What is a tariff and why do recent U.S. actions on aluminum and steel matter?: Link

French financial giant AXA SA on Monday said it would buy New York-listed insurance company XL Group Ltd. XL for $15.3 billion, creating one of the world’s biggest property and casualty insurers: Link $

The U.S. will overtake Russia to become the world’s largest oil producer by 2023, accounting for most of the global growth in petroleum supplies, a top industry monitor said Monday: Link $

Small banks have been fighting for a bigger piece of the credit-card market in search of higher returns. Now, they’re contending with rising losses: Link $

U.S. e-commerce giant Amazon AMZN aims to launch its grocery delivery service in France as part of global ambitions to expand in food retail, though the move is not imminent, its general manager for France said in a newspaper interview: Link

China aims to get its home-grown, overseas-listed companies to float on the domestic exchanges through the depositary receipts route, people with knowledge of the matter said, in a plan that would pit Shanghai and Shenzhen against Hong Kong in the battle to host China’s tech giants: Link

A President Trump-appointed regulator last week lit the fuse on what some on Wall Street believe will become an explosion of private equity-fueled acquisitions — perhaps equaling the buyout bonanza of 2006-07: Link

ECONOMIC DATA

• US Services Purchasing Managers' Index for February is schedule for release at 9:45 a.m. ET.
• The ISM non-manufacturing index for February will be released at 10:00 a.m. ET.
• The Treasury is set to auction 3-and 6-month bills at 11:30 a.m. ET.
• The TD Ameritrade Investor Movement Index for February is schedule for release at 12:30 p.m. ET.
• Federal Reserve Vice Chairman Randal Quarles is set to speak in Washington, DC at 1:15 p.m. ET.

ANALYST RATINGS

• Deutsche Bank upgraded Monster Beverage MNST from Hold to Buy
• Morgan Stanley upgraded Groupon GRPN from Underweight to Equal-Weight
• Keybanc downgraded Microsemi MSCC from Overweight to Sector Weight
• Jefferies downgraded Amag Pharmaceuticals AMAG 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.