The Market In 5 Minutes

IN THE NEWS

BENZINGA

Obama to lead Uber? It is a realistic possibility according to Trip Chowdhry, the managing director of Global Equities Research: Link

Advanced Micro Devices, Inc. AMD shares soared on Wednesday after the company provided details on its newly-launched EPYC server processor: Link

While fintech companies proliferate in the United States, driving the expansion of a well-established financial sector with flourishing credit card and personal banking industries, Orchard Platform CEO Matt Burton is turning an eye to the east: Link

THE WALL STREET JOURNAL

Senate Republicans’ health overhaul carries big risks for many health-care companies because of its cutbacks to federal Medicaid funding and the uncertain impact of its broad changes to individual health-insurance markets: Link

Senior lawmakers in both parties are resisting the Trump administration’s moves toward imposing steel tariffs on national security grounds, worried that other countries could use the same argument to block exports from their states: Link

REUTERS

Western technology companies, including Cisco CSCO, IBM IBM and SAP SAP, are acceding to demands by Moscow for access to closely guarded product security secrets, at a time when Russia has been accused of a growing number of cyber attacks on the West, a Reuters investigation has found: Link

Britain's finance industry will warn the government next week to limit ministers' powers to change legislation when it begins the mammoth task of converting European Union laws into domestic legislation in preparation for its exit from the bloc, according to a draft report seen by Reuters: Link

BLOOMBERG

Senate Majority Leader Mitch McConnell is already working to get GOP holdouts to back the health-care bill for a possible vote next week, as he begins to separate those who can be won over with modest changes and those who may have unbridgeable concerns: Link

The biggest challenge for Justin Trudeau’s forthcoming legal recreational marijuana market is a shortage of pot, the finance minister of Canada’s most-populous province says: Link

NY POST

As rumors swirled on Wednesday that Facebook’s FB Sheryl Sandberg could take over Uber after CEO Travis Kalanick’s resignation, LinkedIn CEO Jeff Weiner shot down the idea during a Q&A with Gayle King: Link

ECONOMIC DATA

  • The flash Composite Purchasing Managers' Index for June is schedule for release at 9:45 a.m. ET.
  • Data on new home sales for May will be released at 10:00 a.m. ET.
  • St. Louis Federal Reserve Bank President James Bullard is set to speak in Nashville, TN at 11:15 a.m. ET.
  • Cleveland Federal Reserve Bank President Loretta Mester will speak in Cleveland, Ohio at 12:40 p.m. ET.
  • The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET.
  • Federal Reserve Board Gov. Jerome Powell is set to speak at the Federal Reserve Bank of Chicago Symposium at 2:15 p.m. ET.

ANALYST RATINGS

  • Deutsche Bank upgraded US Steel X from Hold to Buy
  • BMO upgraded Bemis BMS from Market Perform to Outperform
  • Keybanc upgraded GCP Applied Technologies GCP from Sector Weight to Overweight
  • Raymond James downgraded EnerNOC ENOC from Strong Buy to Market Perform
  • JP Morgan downgraded Hain Celestial HAIN from Overweight to Equal-Neutral
  • Morgan Stanley downgraded Ocular Therapeutics OCUL 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.

Posted In: NewsGlobalTop StoriesPre-Market OutlookMarketsMarket in 5 minutes
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...