The Market In 5 Minutes

IN THE NEWS

BENZINGA

The day has come! Leading minds in fintech will be celebrating innovation across the world at the Benzinga Global Fintech Awards in New York City. Last-minute tickets are available: Link

There are many words to describe Sears Holdings Corp SHLD current state of business: troubled, struggling, cash-strapped, unpopular. But don't use the coveted 'b' word to describe the business as it isn't going bankrupt, at least according to CEO Eddie Lampert: Link

Boeing Co BA shares plummeted as much as 3 percent Wednesday as traders circulated reports that 737 MAX test flights were suspended for engine inspections: Link

THE WALL STREET JOURNAL

The Trump administration and a bipartisan group of U.S. senators are working to address an issue that has gone unresolved for nearly a decade: how to overhaul Fannie Mae FNMA and Freddie Mac FMCC, the mortgage-finance giants the government took over in 2008: Link

In the weeks before President Donald Trump fired FBI Director James Comey, a federal investigation into potential collusion between Trump associates and the Russian government was heating up, as Mr. Comey became increasingly occupied with the probe: Link

REUTERS

German grocery chain Aldi Inc is trying to beat the world's biggest retailer at its own game: low prices. Already with 1,600 U.S. stores, Aldi’s internal studies show its prices are 21 percent lower than its lowest-priced rivals, including Wal-Mart Stores Inc WMT, according to Chief Executive Jason Hart: Link

Tesla Inc TSLA on Wednesday began taking orders for its solar roof tiles, a cornerstone of Elon Musk's strategy to sell a fossil-fuel-free lifestyle under the brand name of its luxury electric vehicles: Link

BLOOMBERG

For a guy who just lost about a quarter of his net worth, Snap Inc. SNAP co-founder Evan Spiegel exuded confidence on his first earnings conference call, explaining away the company’s shortcomings and even throwing shade at his bigger -- and far more successful -- social media rival, Facebook Inc. FB: Link

From Michael Bloomberg: Congress needs to get serious about holding the president accountable: Link

NY POST

If you’re mad as hell over your rising cable bill, blame programmers not your cable company, Liberty Media Chairman John Malone said in a take-no-prisoners interview Wednesday: Link

ECONOMIC DATA

• New York Federal Reserve Bank President William Dudley is set to speak in Mumbai, India at 6:25 a.m. ET.
• Data in initial jobless claims for the latest week will be released at 8:30 a.m. ET.
• The Producer Price Index for April is schedule for release at 8:30 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 Treasury is set to auction 30-year bonds at 1:00 p.m. ET.
• Data on money supply for the recent week will be released at 4:30 p.m. ET.

ANALYST RATINGS

• Wells Fargo Upgraded Whole Foods WFM from Market Perform to Outperform
• Rosenblatt Upgraded Twenty-First Century Fox FOXA From Neutral to Buy
• Citi Upgrades Yelp YELP From Neutral to Buy
• Morgan Stanley Downgraded Acacia Communications ACIA from Overweight to Equal-Weight
• Morgan Stanley Downgraded Albany Molecular Research AMRI from Overweight to Equal-Weight
• Chardan Downgrades Caesarstone CSTE From Buy 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.