Below 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. Apply for daily AM access by clicking here or email [email protected].

Macro News

The U.S. Treasury Department’s new curbs on inversions struck down the $150 billion merger of Pfizer (NYSE: PFE) and Allergan (NYSE: AGN), "but in seeking to eliminate a tax benefit for companies that use inversions to dodge the high U.S. corporate tax, the government has also swept up foreign companies with ordinary U.S. businesses."

The White House is declining to offer public support for draft legislation that would empower judges to require technology companies such as Apple (NASDAQ: AAPL) to help law enforcement crack encrypted data, sources familiar with the discussions told Reuters.

"Among the reasons money supply went out of fashion [over the last couple decades] were doubts over what it signaled in terms of economic growth or inflation, a difficulty in tracking it at a time of financial innovation plus the suspicion that it was probably better to monitor credit," Bloomberg writes. "Now, economists at Standard Chartered are suggesting it’s time to resurrect money as an indicator, focusing on one gauge named after the late French economist Francois Divisia."

Disney (NYSE: DIS) isn't wasting anytime in making sure its "Star Wars" franchise remains fresh in everyone's minds. Disney teased Star Wars fans with a nearly two-minute long teaser for its latest film, "Rogue One: A Star Wars Story." The film is scheduled to be released in cinemas on December 16, 2016.

BZ Newsdesk Focus

USA Initial Jobless Claims for April 1 were 267,000 vs. 270,000 estimates. USA Continuing Claims for March 25 were 2.19 million vs. 2.17 million estimates.

Death of a golf investment? Kerrisdale Capital, a private investment firm, released a new research note on Thursday which argued that ClubCorp's (NYSE: MYCC) stock has an 80 percent downside.

Sell-Side Themes

Internet companies have underperformed so far in 2016. JPMorgan's Doug Anmuth pointed out, however, that secular growth and underlying fundamentals of these companies continue to be solid.

Sell-Side's Most Noteworthy Calls

BTIG maintained a Buy rating on Apple, reducing the price target from $141 to $130. The analyst said Apple’s return to revenue growth could be delayed until fiscal 2017, and the company may report a 4 percent decline this fiscal year.

User and engagement trends for Twitter (TWTR) reveal continued declines for the social media platform. Morgan Stanley’s Brian Nowak maintains an Underweight rating on the company, while lowering the price target from $18 to $16.

Deal Talk

IBM (NASDAQ: IBM) and Pfizer launched a joint experiment to help measure Parkinson’s symptoms using IoT and analytics.

EMC (NYSE: EMC) and Dell are in talks to divest certain assets. The sale is said to include Documentum; Dell is seeking a buyer for Sonicwall and Quest for a combined $4 billion.

Boston Beer (NYSE: SAM) is not for sale. Its founder Koch said he has no interest in selling the company.

What's Up In The News?

Digital disruption is coming quickly to TV news; how can broadcasters adapt and respond?

Blogosphere

The U.S. Treasury is wrong about our merger and growth, writes WSJ's Ian Read. "The broken U.S. The broken U.S. tax system puts American companies like Pfizer at a competitive disadvantage."

Are there any Americans in those Panama Papers? Many are wondering.

Trending

It wouldn't be news until it's a hashtag, right? Following Bernie Sanders' comments, #HillarySoQualified has been a hit.

While Wednesday was the lesser-known National Walking Day, today is World Heath Day. The number of people living with diabetes has nearly quadrupled since 1980 to 422 million adults. In its first "Global report on diabetes," WHO highlights the need to step up prevention and treatment of the disease.

Quote Of The Day

"You can see in the table below that JPMorgan Chase alone has enough loss absorbing resources to bear all the losses [$350 billion], assumed by CCAR, of the 31 largest banks in the United States."

In his annual shareholder letter, JPMorgan Chase (NYSE: JPM) CEO Jamie Dimon points out that his bank could, if necessary, absorb the theoretical losses of every single bank subject to the Federal Reserve's annual stress tests