The Market In 5 Minutes
IN THE NEWS
Stock market sentiment is in a quandary: Optimism is high because of President Donald Trump’s promise to invest in infrastructure and overhaul the tax code. However, the GOP says those and other policy issues are on hold until Congress deals with the seemingly intractable issue of swapping out the healthcare system: Link
THE WALL STREET JOURNAL
Federal Bureau of Investigation Director James Comey said publicly for the first time Monday that the agency is investigating whether members of Donald Trump’s 2016 campaign collaborated with the Russian government to influence the presidential election: Link
SoftBank Group Corp. scrapped a planned $100 million investment in a smartphone startup founded by the creator of Alphabet Inc (NASDAQ: GOOGL)'s Android software, partly because of the Japanese investor’s increasingly close relationship with Apple Inc. (NASDAQ: AAPL), according to people familiar with the matter: Link
High-speed trading gained notoriety after Michael Lewis’s 2014 book “Flash Boys.” These days, the industry is struggling with another problem: It is having trouble making money: Link
Google vowed on Tuesday to police its websites better by ramping up staff numbers and overhauling its policies after several companies deserted the internet giant for failing to keep their adverts off hate-filled videos: Link
Food maker General Mills, Inc. (NYSE: GIS) reported a bigger-than-expected 5.2 percent fall in quarterly sales on Tuesday, hurt by weak sales of yogurt and baking products in the United States, its biggest market: Link
Neil Gorsuch promised to be a "neutral and independent" U.S. Supreme Court justice. So far Senate Democrats don’t seem convinced: Link
In recent months, Apple has made a number of concessions to developers. The company has built analytical tools that provide insights into how apps are used and monetized, sped up the approval process for new ones, halved its take for many transactions in the App Store and made it easier for developers to sell subscriptions: Link
THE NEW YORK TIMES
The purchase of Jet, an upstart e-commerce venture, for $3.3 billion last summer was meant to give Wal-Mart Stores Inc (NYSE: WMT), the nation’s largest retailer, a way to transform its online retail strategy: Link
- USA Redbook (YoY) for Mar 17 1.20% vs 1.30% Prior; Redbook (MoM) for Mar 17 -0.60% vs -0.60% Prior
- CAN Core Retail Sales (MoM) for Jan 1.70% vs 1.10% consensus estimate. The prior reading was -0.30%.
- Kansas City Federal Reserve Bank President Esther George is set to speak in Washington, D.C. at 12:00 p.m. ET.
- The Treasury is set to auction 4-week bills at 11:30 a.m. ET.
- Federal Reserve Bank of Cleveland President Loretta Mester will speak in Richmond, Va. at 6:00 p.m. ET.
- Boston Federal Reserve Bank President Eric Rosengren is set to speak in Bali, Indonesia at 9:45 p.m. ET.
- BTIG Research upgraded Facebook (NASDAQ: FB) from Neutral to Buy
- William Blair upgraded Carnival Corp (NYSE: CCL) from Market Perform to Outperform
- Jefferies upgraded Motorola Solutions Inc (NYSE: MSI) from Hold to Buy
- BMO Capital downgraded Sprouts Farmers Market (NASDAQ: SFM) from Outperform to Market Perform
- Bernstein downgraded General Mills from Market Perform to Underperform
- Baird downgraded Mednax (NYSE: MD) from Outperform to Neutral
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