Market Overview

The Market In 5 Minutes

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The Market In 5 Minutes

IN THE NEWS

BENZINGA

Facebook Inc (NASDAQ: FB) launched a new Augmented Reality platform, which allows users to overlay graphics onto photos and videos in real time, leveraging new technologies such as SLAM, 3D effects and object recognition: Link

Fox News (NASDAQ: FOXA) is parting ways with Bill O’Reilly in the wake of a sexual-harassment scandal, bringing an end to the combative host’s two-decade run that drew millions of loyal viewers and helped build the network’s political influence: Link

Here’s a look at how some of the world's largest financial institutions performed in the first quarter and their stock's performance since the start of 2017 and over the past year: Link

Every golf course in China is equipped with cameras at almost every tee. Why? Because senior managers at state-owned enterprises are forbidden from enjoying such a frivolous pastime: Link

THE WALL STREET JOURNAL

U.S. corporate debt has ballooned on cheap credit to levels exceeding those prevailing just before the 2008 financial crisis, a potential threat to financial stability, the International Monetary Fund warned in its latest review of the top threats to markets and banks: Link

Exxon Mobil Corp. (NYSE: XOM) has applied to the Treasury Department for a waiver from U.S. sanctions on Russia in a bid to resume its joint venture with state oil giant PAO Rosneft, according to people familiar with the matter: Link

REUTERS

North Korean state media warned the United States of a "super-mighty preemptive strike" after U.S. Secretary of State Rex Tillerson said the United States was looking at ways to bring pressure to bear on North Korea over its nuclear program: Link

The head of the U.S. House of Representatives' banking panel has unveiled the Republicans' most ambitious plan so far to loosen financial regulations, a 600-page bill to replace the Dodd-Frank financial reform law: Link

BLOOMBERG

U.S. Steel Corp. (NYSE: X), supported by Washington politicians amid a “Buy America” push from the White House, is asking a trade agency to revive claims that rival Chinese manufacturers colluded to keep prices low to undercut competitors in the American market: Link

Theranos Inc. investors accused the company of threatening to file for bankruptcy protection if they don’t agree to give up their rights to sue the firm over its flawed blood-testing business: Link

NY POST

The Federal Trade Commission is cracking down on “influencers” — pop stars, athletes and musicians who promote products on social media without disclosing that they are being paid for their endorsements: Link

ECONOMIC DATA

  • Federal Reserve Governor Jerome Powell is set to speak in Washington, D.C. at 8:00 a.m. ET.
  • Data on initial jobless claims for the latest week will be released at 8:30 a.m. ET.
  • The Philadelphia Fed general conditions index for April is schedule for release at 8:30 a.m. ET.
  • The index of leading economic indicators for March 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.
  • Data on money supply for the recent week will be released at 4:30 p.m. ET.

ANALYST RATINGS

  • Atlantic Equities upgraded Goldman Sachs (NYSE: GS) from Neutral to Overweight
  • Stifel Nicolaus upgraded Starbucks (NASDAQ: SBUX) from Hold to Buy
  • Baird upgraded Lear (NYSE: LEA) from Neutral to Outperform
  • Raymond James downgraded Ruth's Hospitality Group (NASDAQ: RUTH) from Outperform to Market Perform
  • Wells Fargo downgraded Tribune Media (NYSE: TRCO) from Outperform to Market Perform
  • Morgan Stanley downgraded NanoString Technologies (NASDAQ: NSTG) from Overweight to Equal-Weight

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.

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