The Market In 5 Minutes

IN THE NEWS

BENZINGA

Uncertainty returned to the market yesterday as the major indices closed with their biggest loss since before November. There has been plenty of speculation that such a downturn was inevitable, including from economist and editor with Moneyball Economics Andrew Zatlin: Link

With North American President Mark King at the helm, adidas ADDYY has quickly become the most exciting company in the industry: Link

Nike NKE’s revenue miss in its third quarter earnings report resulted in a more than 5 percent decline in the stock: Link

THE WALL STREET JOURNAL

Police worked to piece together the details of a rampage outside Britain’s Parliament by a suspected Islamist terrorist, searching six properties and arresting eight people: Link

AT&T Inc. T and Verizon Communications Inc. VZ on Wednesday joined a growing number of companies pulling much of their advertising from Google, expanding a controversy over the internet giant’s ad placements on objectionable content and deepening the financial impact on the company even after it announced measures to assuage concerns: Link

The GOP plan to replace the Affordable Care Act, backed by President Donald Trump and House Speaker Paul Ryan, remained in jeopardy Wednesday after a day of intense negotiations among Republicans showed signs of rallying conservatives behind the bill while driving away more centrist lawmakers: Link

REUTERS

The Republican chairman of the U.S. House of Representatives intelligence committee set off a political firestorm on Wednesday when he said the communications of members of Donald Trump's transition team were caught up in incidental surveillance targeting foreigners: Link

The Trump Trade could start looking more like a Trump Tantrum if the new U.S. administration's healthcare bill stalls in Congress, prompting worries on Wall Street about tax cuts and other measures aimed at promoting economic growth: Link

BLOOMBERG

Investors in hospital stocks are banking on a key idea: the GOP’s final overhaul of Obamacare won’t be as bad as it looks right now: Link

The U.S. is investigating whether the theft of $81 million from a Bangladesh central bank account at the New York Fed is linked to North Korea because of the similarity of the hack to an earlier breach of Sony Pictures Entertainment, two people familiar with the matter said: Link

NY POST

Pay up or grandma’s photos of her grandkids are toast. That’s the threat being laid down by a hacker or hackers who claim to have access to as many as 300 million iCloud and Apple email accounts: Link

ECONOMIC DATA

• Initial Jobless Claims for Mar 17 258.0K vs 240.0K estimate; Continuing Claims for Mar 10 2.0M vs 2.04M estimate.
• Federal Reserve Chairman Janet Yellen is set to speak in Washington at 8:45 a.m. ET.
• Data on new home sales for February will be released at 10:00 a.m. ET.
• The Energy Information Administration’s weekly report on natural gas stocks is schedule for release at 10:30 a.m. ET.
• The Kansas City Fed manufacturing index for March will be released at 11:00 a.m. ET.
• Minneapolis Federal Reserve Bank President Neel Kashkari is set to speak in Washington at 12:30 p.m. ET.
• Data on money supply for the recent week will be released at 4:30 p.m. ET.
• Dallas Federal Reserve Bank President Robert Kaplan will speak in Chicago at 7:00 p.m. ET.

ANALYST RATINGS

• Goldman Sachs upgraded FireEye FEYE from Sell to Buy
• RBC Capital upgraded Kroger KR from Sector Perform to Outperform
• UBS upgraded Energen EGN from Neutral to Buy
• Goldman Sachs downgraded Proofpoint PFPT from Neutral to Sell
• RBC Capital downgraded Norfolk Southern NSC from Sector Perform to Underperform
• PiperJaffray downgraded Ultragenyx Pharmaceuticals RARE from Overweight to Neutral

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 or email minutes@benzinga.com.