The Market In 5 Minutes

IN THE NEWS

BENZINGA

It took a “Wonder Woman” not only to jump-start the summer box office, but end Time Warner Inc TWX's critically maligned skid as it tries to approximate the success of the rival Marvel Cinematic Universe franchise run by Walt Disney Co DIS: Link

Beware, mankind — machines are taking over. The fear has been voiced by tech titans such as Microsoft Corporation MSFT's Bill Gates and Tesla Inc TSLA's Elon Musk: Link

The auto industry has been suffering from a pricing decline so far in 2017, but slumping prices are not the only issue weighing down the industry in 2017: Link

THE WALL STREET JOURNAL

President Donald Trump will launch a new campaign this week aimed at fulfilling his pledge for $1 trillion of infrastructure investment, hoping to capitalize on lawmakers’ support for rebuilding the nation’s transportation systems at a time when his tax and health legislation are in flux: Link

General Motors Co. GM Chief Executive Mary Barra faces shareholders this week, under pressure from a hedge-fund investor and fresh scrutiny following the ouster of her counterpart at a crosstown rival: Link

REUTERS

Apple Inc. AAPL and Amazon.com Inc AMZN will join Foxconn's bid for Toshiba Corp's semiconductor business, the Nikkei business daily quoted Foxconn Chairman Terry Gou as saying on Monday: Link

In early May, Goldman Sachs GS turned down a request from Caracas to convert $5 billion in sovereign bonds into marketable securities partly because it would mean dealing directly with a Venezuelan state bank, according to people familiar with the talks: Link

BLOOMBERG

Investors looking for a return of market volatility might see those chances increase this week, with geopolitical risks looming large: Link

For the first time in years, Apple will use its annual developer conference to tout not just its software, but hardware too: Link

NY POST

Carl Icahn has big plans for the US auto-parts sector — and big retailers like AutoZone AZO, O’Reilly Automotive ORLY and Advance Auto Parts AAP aren’t going to like them: Link

ECONOMIC DATA

• USA Unit Labor Costs (QoQ) for Q1 2.20% vs 2.50% consensus estimate. Nonfarm Productivity (QoQ) for Q1 0.00% vs -0.20% consensus estimate.
• US Services Purchasing Managers' Index for May is schedule for release at 9:45 a.m. ET.
• Data on factory orders for April will be released at 10:00 a.m. ET.
• The ISM non-manufacturing index for May is schedule for release at 10:00 a.m. ET.
• The labor market conditions index for May will be released at 10:00 a.m. ET.
• The Treasury is set to auction 3-and 6-month bills at 11:30 a.m. ET.
• The TD Ameritrade Investor Movement Index for May is schedule for release at 12:30 p.m. ET.

ANALYST RATINGS

• HSBC upgraded Chevron CVX from Hold to Buy
• Susquehanna upgraded Skechers SKX from Neutral to Positive
• Deutsche Bank upgraded WEX WEX from Hold to Buy
• Pacific Crest downgraded Apple from Overweight to Sector Weight
• RBC downgraded Perrigo PRGO from Sector Perform to Underperform
• Wedbush downgraded Endocyte ECYT from Outperform 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.