The Market In 5 Minutes: More Tariffs, App Store's Birthday, PPI Data And More

IN THE NEWS

U.S. President Donald Trump is pushing his trade conflict with China toward a point where neither side can back down: Link $

5 hot pot stocks in 2018 and 5 more to watch the rest of the year: Link

As a society that relies so heavily on technology, it's challenging to remember a time when going to Starbucks solely meant a quick coffee trip, rather than a caramel macchiato photo shoot. Apple's (NASDAQ:AAPL) App Store turned 10 years old Tuesday. And the evolution of technology in that decade has been nothing short of exponential: Link

Shanghai will accelerate efforts to cancel restrictions on foreign investment in the auto manufacturing sector, a government official said on Wednesday, a day after Tesla (NASDAQ:TSLA) said it would build a wholly owned auto plant in the city: Link

Bill Ackman’s next big investment is himself: Link

Rupert Murdoch’s 21st Century Fox Inc. (NASDAQ:FOXA) significantly lifted its offer price to consolidate ownership of Sky PLC, heating up a bidding war with Comcast Corp. (NASDAQ:CMCSA) for the British broadcaster: Link $

The highest retail gas prices in years are raising concerns about one of the longest-running U.S. economic expansions on record: Link

ECONOMIC DATA

• USA Core PPI (MoM) for Jun 0.30% vs 0.20% Est; Prior 0.30%. USA PPI (MoM) for Jun 0.30% vs 0.20% Est; Prior 0.50%
• Wholesale inventories report for May 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.
• The Treasury is set to auction 4-week bills at 11:30 a.m. ET.
• New York Federal Reserve Bank President John Williams is set to speak in Brooklyn, NYSE: at 4:30 p.m. ET.

ANALYST RATINGS

• Stifel upgrades Conn's (NASDAQ:CONN) from Hold to Buy
• KeyBanc upgrades Tableau (NYSE:DATA) from Sector Weight to Overweight
• Morgan Stanley downgrades Jazz Pharma (NASDAQ:JAZZ) Overweight to Equal-Weight
• KeyBanc downgrades Yext (NYSE:YEXT) 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.