Market Overview

The Market In 5 Minutes

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The Market In 5 Minutes

IN THE NEWS

Benzinga

The CEOs on President Donald Trump’s manufacturing council are from the largest of Fortune 500 companies, but the board’s turnover rate more closely resembles that of a fast food restaurant: Link

President Donald Trump retweeted Jacob Wohl — the 19-year-old hedge fund manager whose work has drawn the attention of securities regulators — after he credited the commander-in-chief on Wednesday for the market's performance: Link

Wall Street Journal

India is taking a series of aggressive steps to reduce the mountain of bad debts weighing down its banks and threatening to derail the world’s fastest-growing large economy: Link

Facebook Inc. (NASDAQ: FB) dismantled a popular anonymous discussion board for employees last year that had become a forum for conservative political debate that sometimes degenerated into racist or sexist comments, people familiar with the matter said, a rare move to censor speech internally: Link

Reuters

Chinese authorities have issued a warning to the country's top e-commerce platforms, including Alibaba Holding Group Ltd's (NYSE: BABA) Taobao.com, over the sale of illegal virtual private networks that allow users to skirt state censorship controls: Link

Talks to renegotiate the North American Free Trade Agreement (NAFTA) must include a discussion of new financial services, a Mexican negotiator said on Wednesday, singling out so-called fintech companies rapidly gaining ground in the region: Link

Bloomberg

Turns out the solar eclipse, set to plunge parts of the U.S. into total darkness on Monday, will offer exactly what the power sector’s been looking for: a completely predictable stage for experiments: Link

Africa’s richest man, Aliko Dangote, plans to invest $20 billion to $50 billion in the U.S. and Europe by 2025, in industries including renewable energy and petrochemicals: Link

New York Post

JPMorgan Chase (NYSE: JPM) Chief Executive Jamie Dimon slammed President Trump on Wednesday for his “equivocation” on the bloody protests in Virginiaover the weekend: Link

ECONOMIC DATA

  • nitial Jobless Claims for Aug 14 232.0K vs 240.0K Est; Prior 244.0K. Continuing Claims for Aug 7 1.95M vs 1.95M Est
  • USA Philadelphia Fed Manufacturing Index for Aug 18.90 vs 18.50 Est; Prior 19.50
  • Data on industrial production for July will be released at 9:15 a.m. ET.
  • Data on e-commerce retail sales for the second quarter will be released at 10:00 a.m. ET.
  • The index of leading economic indicators for July is schedule for release at 10:00 a.m. ET.
  • The Energy Information Administration’s weekly report on natural gas stocks is schedule for release at 10:30 a.m. ET.
  • Dallas Federal Reserve Bank President Robert Kaplan is set to speak in Lubbock, Texas at 1:00 p.m. ET.
  • Minneapolis Federal Reserve Bank President Neel Kashkari will speak in Edina, Minnesota at 1:45 p.m. ET.
  • Data on money supply for the recent week will be released at 4:30 a.m. ET.

ANALYST RATINGS

  • Morgan Stanley upgraded Molina Healthcare (NYSE: MOH) from Underweight to Overweight
  • JP Morgan upgraded Kennametal (NYSE: KMT) from Neutral to Overweight
  • Telsey Advisory upgraded Zoe's Kitchen (NYSE: ZOES) from Market Perform to Outperform
  • Keybanc downgraded Nucor (NYSE: NUE) from Overweight to Sector Weight
  • JP Morgan downgraded Illinois Tool Works (NYSE: ITW) from Neutral to Underweight
  • Jefferies downgraded TechTarget (NASDAQ: TTGT) 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.

Posted-In: Market in 5 minutesNews Global Top Stories Pre-Market Outlook Markets Best of Benzinga

 

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