The Market In 5 Minutes

IN THE NEWS

Benzinga

Rite Aid RAD will sell about half of its stores to Walgreens WBA: Link

The Federal Reserve released the results of its annual Comprehensive Capital Analysis and Review, commonly know as the stress test on U.S. banks: Link

Experts said it wouldn't take long for a brand-new cyberattack to cripple computers around the world. They were right: Link

The thought of Wall Street and investing conjures up contradictory images for many people. You either think of the Wolf of Wall Street lifestyle of coked-up traders shouting into phones, or an old white guy in a suit thumbing through folders of spreadsheets: Link

Wall Street Journal

Even before Amazon.com Inc. AMZN put a supermarket chain in its cart, U.S. grocery delivery services were racing to grab hold of new regions, spending millions to gain a larger share of the fast-growing market: Link

For years, Nike Inc. NKE was one of the biggest holdouts against Amazon, refusing to provide its sneakers and athletic clothing for sale on the hulking e-commerce site. Its products were so cool, the company reasoned, it didn’t need or want the help: Link

Reuters

The top U.S. Senate Republican struggled on Wednesday to salvage major healthcare legislation sought by President Donald Trump, meeting privately with a parade of skeptical senators as critics within the party urged substantial changes: Link

PayPal Holdings Inc PYPL has invested in LendUp, a San Francisco-based startup that offers loans online to consumers who have been traditionally overlooked by banks because they are considered too risky: Link

Bloomberg

For investors scrambling to keep pace with a hawkish shift in the world’s biggest central banks, the second half of 2017 just got a lot more interesting: Link

The Trump administration will introduce new restrictions on travel to the U.S. by refugees and migrants from six countries as of 8 p.m. eastern time Thursday, according to a person familiar with the matter: Link

New York Post

Walmart WMT is escalating its war of words with Amazon by sending veiled messages to the trucking companies that haul its merchandise from its distribution centers and stores, telling them if they do business with the Web giant it may not want to work with them, according to an industry expert: Link

ECONOMIC DATA

• USA GDP (QoQ) for Q1 1.40% vs 1.20% consensus estimate. The prior reading was 1.20%.
• USA Initial Jobless Claims for Jun 23 244.0K vs 240.0K consensus estimate; Continuing Claims for Jun 16 1.95M vs 1.94M consensus estimate.
• The Energy Information Administration’s weekly report on natural gas stocks in underground storage is schedule for release at 10:30 a.m. ET.
• St. Louis Federal Reserve Bank president James Bullard is set to speak in London at 1:00 p.m. ET.
• Data on farm prices for May will be released at 3:00 p.m. ET.
• Data on money supply for the recent week will be released at 4:30 p.m. ET.

ANALYST RATINGS

• B. Riley upgraded Groupon GRPN from Neutral to Buy
• Berenberg upgraded Barrick Gold ABX from Sell to Hold
• Jefferies upgraded ICON plc ICLR from Hold to Buy
• Stephens downgraded Monro Muffler MNRO from Overweight to Equal-Weight
• B. Riley downgraded EMCORE EMKR from Buy to Neutral
• Citi downgraded Education Realty Trust EDR 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.