The Market In 5 Minutes: The Latest On North Korea, Building Permits, Fintech Awards And More

IN THE NEWS

The largest blockchain companies will be bigger than Apple Inc. AAPL and Alphabet's GOOGL Google, according to Alex Mashinksy: Link

The border between financial institutions and fintech startups is similar to the precise nature of how prescription drugs target proteins, IBM IBM Chief Technology Officer Tom Eck said Tuesday at the 2018 Benzinga Global Fintech Awards: Link

A senior North Korean official said Pyongyang isn’t interested in a summit with the U.S. focused solely on denuclearization and accused Washington of trying to “impose on our dignified state the destiny of Libya or Iraq.”: Link $

Following some of their strongest years ever, credit-card issuers are grappling with an uneasy future: Link $

Amazon.com, Inc. AMZN and Whole Foods Market are making a surgical strike in the already brutal grocery price war: Link

U.S. 10-year Treasury yields will move in a 3 percent to 3.5 percent range for the rest of the year as the Federal Reserve continues raising interest rates, said Robert Mead, co-head of Asia-Pacific at Pacific Investment Management Co: Link $

ECONOMIC DATA

  • US MBA mortgage applications w.e. 11 May -2.7% vs -0.4% prior
  • US Housing Starts (MoM) for Apr -3.70% vs -0.70% Est; Prior 1.90%. US Building Permits (MoM) for Apr -1.80% vs -2.30% Est; Prior 4.40%
  • Federal Reserve Bank of Atlanta President Raphael Bostic is set to speak at 8:30 a.m. ET.
  • Data on industrial production for April will be released at 9:15 a.m. ET.
  • The Energy Information Administration’s weekly report on petroleum inventories in the U.S.is schedule for release at 10:30 a.m. ET.
  • St. Louis Fed President James Bullard will speak at 6:30 p.m. ET.

ANALYST RATINGS

  • Jefferies upgraded Lyondell Basell LYB from Hold to Buy
  • Susquehanna upgraded AMD AMD from Negative to Neutral
  • Jefferies downgraded 3M MMM from Buy to Hold
  • KeyBanc downgraded Vipshop VIPS from Overweight to Sector Weight

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.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsGlobalTop StoriesPre-Market OutlookMarketsMarket in 5 minutes
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!