Market Overview

The Market In 5 Minutes

Share:
The Market In 5 Minutes
Related SPY
A Lot Of Stocks On The Cheap
Your S&P 500 Q2 Earnings Report Card
Ashburton (Jersey) Ltd Buys SPDR S&P 5……, US Silica Holdings Inc, Patterson-UTI Energy ... (GuruFocus)
Related USO
Argus Initiates Baker Hughes At Buy, Sees 32% Upside From Here
Here's How The States With The Cheapest Electricity Are Generating Their Power

IN THE NEWS

BENZINGA

It may be disappointing, but the "Red Dead Redemption 2" delay is nothing unusual in the video game industry, especially for Take-Two (NASDAQ: TTWO)'s Rockstar Games: Link

The new partnership between Alphabet Inc (NASDAQ: GOOGL)’s Waymo autonomous vehicle technology unit and ride-hailing company Lyft may have given birth to a legitimate Tesla Inc (NASDAQ: TSLA) competitor: Link

The poor, the elderly, the disabled, college students and environmental protections all stand to take a big hit if Congress approves President Donald Trump’s $4.1 trillion budget for fiscal year 2018. Defense contractors, corporations in general and the wealthiest Americans all stand to gain: Link

THE WALL STREET JOURNAL

Moody’s Investors Service cut China’s sovereign credit rating for the first time in nearly three decades, citing expectations that the country’s financial strength will deteriorate in the coming years as debt keeps rising and the economy slows: Link

Saudi Arabia is pushing the OPEC oil cartel and other big producers gathered here this week to extend crude production cuts for another nine months. The reason: the timing of the blockbuster IPO of Saudi Arabian Oil Co., people familiar with the matter said: Link

REUTERS

The Financial Stability Oversight Council (FSOC), which brings together all U.S. financial watchdogs, used to be the scourge of Wall Street but under Treasury Secretary Steven Mnuchin it can serve to ease its regulatory burdens: Link

Uber Technologies Inc said on Tuesday it underpaid its New York City drivers for the past two-and-a-half years, an error that could cost the ride-hailing company tens of millions of dollars: Link

BLOOMBERG

With a flagship treatment that helps fewer than 11,000 people, how is Alexion (NASDAQ: ALXN) making so much money?: Link

SoftBank Group Corp. has quietly amassed a $4 billion stake in Nvidia Corp. (NASDAQ: NVDA) making it the fourth-largest shareholder in the graphics chipmaker, according to people familiar with the situation: Link

NY POST

Target (NYSE: TGT) has agreed to pay $18.5 million to settle a multi-state investigation into its colossal data breach in 2013 that affected 70 million shoppers, authorities announced Tuesday: Link

ECONOMIC DATA

  • The FHFA house price index for March will be released at 9:00 a.m. ET.
  • Data on existing home sales for April will be released at 10:00 a.m. ET.
  • The Energy Information Administration’s weekly report on petroleum inventories in the U.S. is schedule for release at 10:30 a.m. ET.
  • The Treasury is set to auction 5-year notes at 1:00 p.m. ET.
  • The Federal Open Market Committee will issue minutes of its latest meeting at 2:00 p.m. ET.
  • Dallas Federal Reserve Bank President Robert Kaplan is set to speak in Toronto at 6:00 p.m. ET.
  • Minneapolis Federal Reserve Bank President Neel Kashkari will speak in Ashland, Wisconsin at 6:30 p.m. ET.

ANALYST RATINGS

  • Credit Suisse Upgraded U.S. Steel (NYSE: X) from Neutral to Outperform
  • Wells Fargo Upgraded NovoCure (NASDAQ: NVCR) from Market Perform to Outperform
  • Evercore ISI Upgrades Diana Shipping (NYSE: DSX) From Underperform to In-Line
  • Goldman Sachs Downgraded Zions Bancorp (NASDAQ: ZION) from Buy to Neutral
  • Credit Suisse Downgraded Ooma (NYSE: OOMA) from Outperform to Neutral
  • Citi Downgrades Brown Forman (NYSE: BF-B) 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.

Posted-In: Market in 5 minutesNews Global Top Stories Pre-Market Outlook Markets Best of Benzinga

 

Related Articles (ALXN + BF-B)

View Comments and Join the Discussion!