Market Overview

The Market In 5 Minutes For December 27

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The Market In 5 Minutes For December 27

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 minutes@benzinga.com.

Macro Focus

Crude oil has spent Monday morning above trading $53, up from $52 on Thursday. The high for the year sits at $54.41. Gold meanwhile has rallied up to $1,144, and will look to rally from last week, where it traded at its lowest levels since February.

S&P Futures are trading at $2261, a mere $12 from all-time highs. This is historically one of the quietest weeks of the year on Wall Street, so expect a little less volume and a little more volatility. 

  • The Case-Shiller home price index is due out at 9:00 a.m. ET.
  • The Conference Board's (CB) survey of consumer confidence is set for release at 10:00 a.m. ET.
  • The Federal Reserve Bank of Dallas manufacturing Index is due out at 10:00 a.m. ET.
  • The Federal Reserve Bank of Richmond manufacturing Index is due out at 10:30 a.m. ET.

BZ Desk Focus

Qualcomm Incorporated (NASDAQ: QCOM) disclosed that it has entered into a 3G and 4G Chinese Patent License agreement with Gionee Communication Equipment Co. Ltd. Qualcomm shares rose 0.15 percent to close at $66.86 on Friday.

Shares of Synergy Pharmaceuticals Inc (NASDAQ: SGYP) jumped around 22 percent Friday after the company announced that its drug plecanatide, a daily pill to fight irritable bowel syndrome, had achieved positive top-line results from the second of two pivotal phase 3 clinical trials evaluating the efficacy and safety of the drug. Synergy Pharmaceuticals shares climbed 21.73 percent to close at $5.77 on Friday.

Sell-Side's Most Noteworthy Calls

Raymond James has downgraded Ritchie Bros. Auctioneers Inc (USA) (NYSE: RBA) common stock to Market Perform

Loop Capital's Betsy Van Hees sees storage, networking, and connectivity as the 3 reasons why Marvell Technology Group Ltd. (NASDAQ: MRVL) will return to top-Line growth. She reiterated her Buy rating and $18 price target. 

Deal Talk

Groupe Casino has offered to purchase all outstanding ordinary shares Of Cnova NV (NASDAQ: CNV) for $5.50/Share in Cash

In The News

Walt Disney Co (NYSE: DIS)'s Rogue One: A Star Wars Story has surpased $500 million in global box office sales, just one week after its release. 

Tesla Motors Inc (NASDAQ: TSLA) and Panasonic Corporation (ADR) (OTCMKTS:PCRFY) are set to begin manufacturing solar panels in Buffalo, New York. [Bloomberg

Blogosphere

A former investment banker reflects on his time on Wall Street. [Medium]

Trending

NUGT, CEMP, JNUG, JDUST, TESS, TSLA, ABX, CRM, CARA, NVDA, SGYP, HIMX  [Stocktwits]

Posted-In: News Futures Commodities M&A Events Global Econ #s Top Stories

 

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