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The Market In 5 Minutes

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The Market In 5 Minutes

IN THE NEWS

Benzinga

As robots slowly displace human workers, Alphabet (NASDAQ: GOOGL)'s Google Glass seems like it could be one method for humans to fight back against the machines: Link

While some fear Amazon.com, Inc. (NASDAQ: AMZN) might take over the world one day, others are ecstatic grocery prices might come down a little after Amazon’s proposed acquisition of Whole Foods Market, Inc. (NASDAQ: WFM): Link

After losing the heart of Kate Spade to a more attractive Coach Inc (NYSE: COH) earlier this year, Michael Kors Holdings Ltd (NYSE: KORS) has continued its search for a partner: Link

Wall Street Journal

Senate Republican leaders said Tuesday they would push ahead with a vote to repeal the Affordable Care Act early next week even as GOP defections made it clear the effort would fail: Link

Last August, a 55-year-old Wal-Mart (NYSE: WMT) employee found out her job would now be done by a robot. Her task was to count cash and track the accuracy of the store’s books from a desk in a windowless back room. She earned $13 an hour: Link

Reuters

The Russian lawyer who met Donald Trump Jr after his father won the 2016 U.S. Republican presidential nomination has said she is ready to testify to Congress to dispel what she called "mass hysteria" about the encounter: Link

For seven years, U.S. Senator Mitch McConnell vowed to slay Obamacare if only his Republican Party controlled both chambers of Congress and the White House. Pull it out "root and branch," he pledged: Link

Bloomberg

Initial coin offerings, a means of crowdfunding for blockchain-technology companies, have caught so much attention that even the co-founder of the ethereum network, where many of these digital coins are built, says it’s time for things to cool down in a big way: Link

Bad news for financial titans like JPMorgan Chase & Co. (NYSE: JPM)’s Jamie Dimon and Goldman Sachs Group Inc. (NYSE: GS)’s Lloyd Blankfein: Most Americans hold unfavorable views of Wall Street banks and corporate executives, and distrust billionaires more than they admire them: Link

New York Post

China’s Dalian Wanda Group did not fund a spate of deals made by AMC Entertainment (NYSE: AMC), the U.S. cinema chain majority owned by Wanda said late on Tuesday, after reports that Beijing was cracking down on the Chinese firm’s overseas deals: Link

ECONOMIC DATA

  • MBA Mortgage Applications Up 6.3%
  • USA Building Permits for Jun 1.25M vs 1.21M consensus estimate; USA Housing Starts for Jun 1.22M vs 1.16M consensus estimate.
  • The Energy Information Administration’s weekly report on petroleum inventories in the U.S. is schedule for release at 10:30 a.m. ET.

ANALYST RATINGS

  • Telsey upgraded Chipotle (NYSE: CMG) from Market Perform to Outperform
  • Jefferies upgraded PPL (NYSE: PPL) from Hold to Buy
  • Barclays upgraded Vertex (NASDAQ: VRTX) from Equal-Weight to Overweight
  • KBW downgraded Goldman Sachs from Outperform to Market Perform
  • Barclays downgraded AMC Entertainment from Overweight to Equal-Weight
  • Barclays downgraded Dana (NYSE: DAN) 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.

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