The Market In 5 Minutes

IN THE NEWS

BENZINGA

Snap Inc SNAP will report its earnings for the first time as a public company on May 10. Heading into the report, Wells Fargo's Peter Stabler detailed a series of questions that he is expecting to be addressed in the report and conference call: Link

Financial stocks pulled back from session highs and dropped across the board Monday after President Donald Trump revisited a campaign promise to break up big banks into retail and investment segments: Link

The last thing Apple Inc. AAPL investors want to hear is that iPhone demand is falling. Unfortunately, a new survey from 451 Research indicates just that: Link

THE WALL STREET JOURNAL

The White House is pursuing a twisting path in Congress this week, yielding to Democratic demands on a major spending bill while aggressively pushing a partisan health-care measure, gambling on a big win on health but risking setbacks on both fronts: Link

Goldman Sachs Group Inc. GS earned its elite reputation by dominating the glamorous end of finance—investment banking, trading and managing money for the wealthy: Link

REUTERS

The U.S. Federal Reserve is expected to hold interest rates steady at its meeting this week as it pauses to parse more economic data but may hint it is on track for an increase in June: Link

China has conditionally approved the proposed merger between Dow Chemical Co DOW and Dupont DD, the country's Commerce Ministry said on Tuesday, a step forward for the deal whose closing has been repeatedly delayed by regulatory hurdles: Link

BLOOMBERG

The president’s favorite numbers guy, Peter Navarro, says buying from China strengthens a potential enemy: Link

Treasury Secretary Steven Mnuchin said an overhaul of the tax system, regulatory reform and better trade deals will help produce 3 percent U.S. economic growth within two years: Link

NY POST

It got a lot harder on Monday to tell if Twitter TWTR is a micro-blogging site disguised as an over-the-top TV service — or vice versa: Link

ECONOMIC DATA

• Data on motor vehicle sales April will be released today.
• The Federal Open Market Committee will begin two-day policy meeting today.
• Redbook U.S. Retail Sales Up 1.3% In First 4 Weeks Of April, Up 2.0% YoY, Up 2.3% Week Ended Apr. 29th vs Year Ago
• The Treasury is set to auction 4-week bills at 11:30 a.m. ET.

ANALYST RATINGS

• Raymond James Upgraded Chegg CHGG from Market Perform To Outperform
• Morgan Stanley Upgraded WESCO WCC From Equal-Weight To Overweight
• Keybanc Upgraded Dupont Fabros DFT From Hold To Overweight
• Morgan Stanley downgraded Fortive FTV from Overweight to Equal-Weight
• B. Riley downgraded Jive Software JIVE from Buy to Neutral
• Macquarie downgraded Advanced Micro Devices AMD from Neutral To Underperform

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.