Market Overview

The Market In 5 Minutes: China, OPEC, Banks, Bitcoin And More

Share:
The Market In 5 Minutes: China, OPEC, Banks, Bitcoin And More
Related SPY
A Peek Into The Markets: US Stock Futures Fall, Dow Futures Down 100 Points
A Peek Into The Markets: US Stock Futures Up Ahead Of Economic Reports
Will The Strong U.S. Economy Last? (Seeking Alpha)
Related USO
A Peek Into The Markets: US Stock Futures Fall, Dow Futures Down 100 Points
A Peek Into The Markets: US Stock Futures Up Ahead Of Economic Reports
The Lower It Goes, The Safer It Gets (Seeking Alpha)

IN THE NEWS

Week after week in 2018, cryptocurrency investors have been hit by a stream of negative headlines about increasing regulation and cryptocurrency-related thefts, hacks and scams. But even in a market that's known for its volatility, the negative headlines don’t seem to be inducing as much extreme volatility as they have in the past: Link

Coming into 2018, many traders expected the environment of rising interest rates, financial sector deregulation and a booming U.S. economy to create the perfect environment for bank stocks. Unfortunately, the Financial Select Sector SPDR Fund (NYSE: XLF) is down 1.7 percent so far this year: Link

Google (NASDAQ: GOOG) will invest $550 million in Chinese e-commerce powerhouse JD.com (NASDAQ: JD), part of the U.S. internet giant’s efforts to expand its presence in fast-growing Asian markets and battle rivals including Amazon.com (NASDAQ: AMZN): Link

China’s threat to impose duties on U.S. oil imports will hit a business that has soared in the last two years, and which is now worth almost $1 billion per month: Link

A wave of expected major-media mergers would transform AT&T Inc. (NYSE: T) and Comcast Corp. (NASDAQ: CMCSA) into the two most indebted companies in the world, a standing that carries uncharted risks for investors in the firms’ bonds: Link $

U.S. corporate earnings growth looks poised to slow from a blistering pace, posing a potential new challenge to a long bull market that is already contending with slower global-growth momentum and rising interest rates: Link

OPEC members are discussing a compromise agreement that would see oil production increase between 300k-600k barrels a day over the next few months according to sources: Link $

ECONOMIC DATA

  • The housing market index for June is schedule for release at 10:00 a.m. ET.
  • The Treasury is set to auction 3-and 6-month bills at 11:30 a.m. ET.
  • Atlanta Federal Reserve Bank President Raphael Bostic is set to speak in Savannah at 1:00 p.m. ET.
  • New York Federal Reserve Bank President John Williams will speak in New York at 4:00 p.m. ET.

ANALYST RATINGS

  • B. Riley upgrades Francesca's (NASDAQ: FRAN) from Neutral to Buy
  • RBC upgrades PTC Therapeutics (NASDAQ: PTCT) from Sector Perform to Outperform
  • Pivotal downgrades Disney (NYSE: DIS) from Hold to Sell
  • Pivotal downgrades Discovery (NASDAQ: DISCA) from Buy to Hold

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.

Posted-In: Market in 5 minutesCryptocurrency News Global Top Stories Pre-Market Outlook Markets Best of Benzinga

 

Related Articles (AMZN + CMCSA)

View Comments and Join the Discussion!

Benzinga's Top Upgrades, Downgrades For June 18, 2018

Pivotal's Wieser To Disney Shareholders: Let It Go