The Market In 5 Minutes: Oil, NAFTA, Buffett, Volkswagen And More

IN THE NEWS

After eking out a modest gain in the week ended April 27, the iShares NASDAQ Biotechnology Index (ETF) IBB pulled back this week amid some not-so-encouraging earnings reports and negative regulatory decisions: Link

Warren Buffett is still the face of Berkshire Hathaway Inc., (NYSE: BRK-A) but behind the scenes, his deputies are frequently calling the shots: Link $

Oil futures rose sharply in Asian trading Monday, hitting new 3 1/2-year highs as the U.S. benchmark hovered around $70 a barrel and a deadline to renew waivers of U.S. sanctions on Iran loomed: Link $

Talks to update the NAFTA trade deal enter a make-or-break week on Monday, as ministers from Canada, the United States and Mexico seek to resolve an impasse in key areas before elections in Mexico and the United States complicate the process: Link

Swiss-based food giant Nestle will pay Starbucks SBUX $7.15 billion in cash for the rights to sell the U.S. coffee chain’s products around the world in a global alliance aimed at reinvigorating their coffee empires: Link

Not long after U.S. authorities filed sealed charges against Volkswagen’s VLKAY old chief executive officer, they granted the new CEO a rare safe-passage deal: Link

ECONOMIC DATA

• The Treasury is set to auction 3-and 6-month bills at 11:30 a.m. ET.
• The TD Ameritrade Investor Movement Index for April is schedule for release at 12:30 p.m. ET.
• Tom Barkin is set to speak at 2:00 p.m. ET.
• Data on consumer credit for March will be released at 3:00 p.m. ET.
• Dallas Fed President Robert Kaplan will speak at 3:30 p.m. ET.
• Chicago Fed President Charles Evans is set to speak at 3:30 p.m. ET.

ANALYST RATINGS

• Barclays upgraded Illumina ILMN from Equal-Weight to Overweight
• KeyBanc upgraded Silgan SLGN from Underweight to Sector Weight
• Mizuho downgraded ALLETE ALE from Buy to Neutral
• Barclays downgraded Eaton ETN 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.