The Market In 5 Minutes: Allergan, Solars, Jobless Claims And More

IN THE NEWS

Who are the top U.S. export partners, and what do they spend? Link

President Donald Trump’s tariff on imported solar panels has led U.S. renewable energy companies to cancel or freeze investments of more than $2.5 billion in large installation projects, along with thousands of jobs, the developers told Reuters. Link

Gerald Storch, the former CEO of Toys 'R' Us, says he has a plan to save the company. Link

Carl Icahn has reportedly built a small position in Allergan AGN again. He had previously disclosed a position in 2016 and sold in 2017. Link $

Emerging markets struggling with higher U.S. interest rates are likely to get little sympathy from the Federal Reserve. Link $

New tax rules that cap deductions of state and local taxes are having a disproportionate effect on taxpayers who live in states with high income taxes and property taxes. Link $

ECONOMIC DATA

US Initial Jobless Claims for Jun 1 222.0K vs 223.0K Est; Prior 221.0K. Continuing Claims for May 25 1.74M vs 1.74M Est; Prior Revised from 1.73M to 1.72M
The Energy Information Administration’s weekly report on natural gas stocks in underground storage will be released at 10:30 a.m. ET.
The consumer credit report for April is schedule for release at 3:00 p.m. ET.
Data on money supply for the recent week will be released at 4:30 p.m. ET.

ANALYST RATINGS

Jefferies Downgrades AT&T T to Hold
Vertical Group Downgrades First Solar FLSR to Sell

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.