The Market In 5 Minutes

IN THE NEWS

Benzinga

Bitcoin’s civil war has come to a conclusion. Crisis has been averted. Bitcoin rallied to near all-time highs. The fork in the road is inevitable: Link

Advanced Micro Devices, Inc. AMD has been one of the hottest stocks over the past year, successfully resuscitating itself from the brink of death, delivering a nearly 600 percent gain in the past 18 months: Link

Wall Street Journal

Five years ago, European Central Bank chief Mario Draghi took the stage in London to give the speech that ushered in the beginning of the end of the continent’s sovereign-debt crisis: Link

On the day the Senate moved on long-promised health-care legislation, President Donald Trump signaled his next priority: overhauling the tax code to push corporate rates down and give middle-class taxpayers a break, even if it means some of the wealthiest pay more: Link

Bloomberg

If the Federal Reserve delivers any surprises at its meeting this week, they will probably come from news on when it plans to start shrinking its balance sheet: Link

Senate Republicans have embarked on an unpredictable and potentially chaotic floor debate aimed at repealing Obamacare amid significant doubts that they can muster 50 votes to pass any kind of health bill: Link

Reuters

Japan's Nintendo Co Ltd NTDOY on Wednesday said it swung to a profit in the first quarter, beating analyst estimates, due to strong demand for its Switch console: Link

The chairman of the U.S. House Energy and Commerce Committee on Tuesday asked chief executives from companies representing the two sides of the net neutrality debate, including Alphabet GOOG, Facebook FB, AT&T T and Verizon VZ, to testify at a Sept. 7 hearing: Link

New York Post

The virtual tokens, or coins, issued by some companies instead of traditional stock shares will be regulated like any other security, the Securities and Exchange Commission said on Tuesday: Link

ECONOMIC DATA

• Data on new home sales for June 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 will auction 5-year notes at 1:00 p.m. ET.
• The Federal Open Market Committee will announce its policy decision at 2:00 p.m. ET.

ANALYST RATINGS

• Jefferies upgraded Chipotle CMG from Underperform to Hold
• Wedbush upgraded DSW DSW from Neutral to Outperform
• Goldman upgraded Biogen BIIB from Neutral to Buy
• Telsey Advisory downgraded Wynn WYNN from Outperform to Market Perform
• Deutsche Bank downgraded Zoetis ZTS from Buy to Hold
• B. Riley downgraded II-VI IIVI 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.