The Market In 5 Minutes

IN THE NEWS

Benzinga

Shares of Zynerba Pharmaceuticals Inc ZYNE lost more than 58 percent of their value Monday after the company reported disappointing results from its phase 2 STAR 1 clinical trial for its adult epilepsy treatment: Link

On tempo with the broader growth trends in the major equity market indices, TD Ameritrade Holding Corp.'s AMTD monthly survey of investor activity, the Investor Movement Index (IMX), reached a new high of 7.09 over the month of July: Link

Wall Street Journal

Tax overhaul efforts in Washington are being shaped by a debate about whether it is workers or investors who bear the greater burden of U.S. corporate taxes: Link

Google GOOG on Monday fired the employee who wrote an internal memo suggesting men are better suited for tech jobs than women, escalating a debate over free speech at the company: Link

Reuters

Secretary of State Rex Tillerson on Tuesday pressed Thai leaders for more action on North Korea during the highest level visit to Thailand by a U.S. official since a military coup in 2014 soured relations with the United States: Link

Global stocks inched up to a new all-time high on Tuesday, shrugging off weaker-than-expected China's trade data that clouded an otherwise bright outlook for global growth: Link

Bloomberg

Jeffrey Gundlach sees too much of a good thing -- in financial markets and in his industry -- and he wants no part of it: Link

Avis Budget Group Inc. CAR plunged after slashing its annual profit forecast and missing earnings estimates, as rental-car companies struggle with bloated inventory and threats to their business model: Link

U.S. consumer credit-card debt just passed an ominous milestone, beating a record set just before the global financial system almost collapsed in 2008: Link

New York Post

Despite getting a major league blow-off last week from payroll processor Automatic Data Processing ADP, Ackman’s Pershing Square will seek three seats on the ADP board — including one for Ackman, the hedge fund said Monday in a regulatory filing: Link

ECONOMIC DATA

• US July NFIB small business optimism 105.2 vs 103.5 exp
• The Johnson Redbook Retail Sales Index for the latest week will be released at 8:55 a.m. ET.
• The Labor Department's JOLTS report for June is schedule for release at 10:00 a.m. ET.
• The Treasury is set to auction 4-week bills at 11:30 a.m. ET.
• The Treasury will auction 3-year notes at 1:00 p.m. ET.

ANALYST RATINGS

• Argus upgraded Tesla TSLA to Buy
• Morgan Stanley upgraded Foot Locker FL from Equal-Weight to Overweight
• Pivotal Research upgraded Discovery Communications DISCA from Hold to Buy
• Berenberg upgraded Cognizant CTSH from Hold to Buy
• Janney Capital downgraded Depomed DEPO from Buy to Neutral
• Jefferies downgraded NxStage Medical NXTM from Buy to Hold

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.