The Market In 5 Minutes: China Tariffs, Zuckerberg, Spotify, Model 3 Deliveries And More

IN THE NEWS

Spotify Technology SPOT traded for the first time on a U.S. public stock exchange Tuesday: Link

Tesla Inc TSLA peaked 7.2 percent higher Tuesday after posting first-quarter figures in Model 3 deliveries, production and production rate: Link

China swiftly retaliated against to the Trump administration’s latest proposed penalties on Chinese goods, announcing 25 percent tariffs on critical American exports, including soybeans, airplanes and autos: Link $

Following wild price swings for markets in the first quarter, Wall Street’s trading desks are poised to report one of their best three-month periods in years: Link $

Facebook Inc FB Chief Executive Mark Zuckerberg said on Tuesday that he agreed “in spirit” with a strict new European Union law on data privacy but stopped short of committing to it as the standard for the social network across the world: Link

Microsoft Corp MSFT on Tuesday backed the Justice Department’s request that the U.S. Supreme Court dismiss a case pitting the two against each other over whether prosecutors can force technology companies to hand over data stored overseas after Congress passed a law that resolved the dispute: Link

British advertising company WPP WPP said on Tuesday it is conducting an investigation in response to an allegation of personal misconduct against its chief executive, Martin Sorrell, who denied wrongdoing: Link

ECONOMIC DATA

• ADP Employment Change for Mar 241.0K vs 208.0K Est; Prior 235.0K
• St. Louis Federal Reserve Bank President James Bullard is set to speak in Little Rock, Arkansas at 9:45 a.m. ET.
• US Services Purchasing Managers' Index for March is schedule for release at 9:45 a.m. ET.
• Data on factory orders for February will be released at 10:00 a.m. ET.
• The ISM non-manufacturing index for March is schedule for release at 10:00 a.m. ET.
• The Energy Information Administration’s weekly report on petroleum inventories in the U.S. will be released at 10:30 a.m. ET.
• Cleveland Federal Reserve Bank President Loretta Mester will speak in Wilberforce, Ohio at 11:00 a.m. ET.

ANALYST RATINGS

• Berenberg upgraded Aptiv APTV from Hold to Buy
• Jefferies upgraded Weatherford WFT from Underperform to Hold
• Mizuho downgraded Endo ENDP from Buy to Neutral
• Barclays downgraded PTC Therapeutics PTCT 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.