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The Market In 5 Minutes

IN THE NEWS

Benzinga

Salesforce.com, inc. (NYSE: CRM) hit a new all-time high of $94.63 Wednesday after the company managed to report a top and bottom-line beat in its second-quarter earnings. With the stock up more than 35 percent since the start of 2017 alone, are analysts optimistic there is room for further gains?: Link

Veterinary medical distributor Petmed Express Inc (NASDAQ: PETS) was accused Wednesday of conspiring to exploit the U.S. opioid epidemic in its sale of drugs like Tramadol, a synthetic opiate used by both pets and human cancer patients: Link

Wall Street Journal

For the first time in a decade, the world’s major economies are growing in sync, a result of lingering low-interest-rate stimulus from central banks and the gradual fading of crises that over years ricocheted from the U.S. to Greece, Brazil and beyond: Link

President Donald Trump’s threat to shut down the government if Congress doesn’t approve funding for a wall along the Mexico border raised alarm among some GOP lawmakers, injecting new volatility into an already uncertain political climate this fall: Link

Reuters

Amazon.com Inc (NASDAQ: AMZN) on Wednesday cleared two of the biggest hurdles it needed to close its $13.7 billion acquisition of Whole Foods Market Inc (NASDAQ: WFM), with approvals from a U.S. regulator and the grocery chain's shareholders: Link

Uber Technologies Inc on Wednesday reported a 16 percent increase in quarterly bookings and a smaller loss than the previous period as the ride-services company showed signs of inching toward profitability: Link

Bloomberg

Can oil sands pay off at just $50 a barrel?: Link

Which are the busiest U.S. housing markets?: Link

ECONOMIC DATA

  • Initial Jobless Claims for Aug 18 234.0K vs 238.0K Est; Continuing Claims for Aug 11 1.95M vs 1.95M Est
  • USA Existing Home Sales (MoM) for Jul -1.30% vs 0.90% Est; Existing Home Sales for Jul 5.44M vs 5.57M Est; Prior 5.52M
  • Fed Chair Janet Yellen and European Central Bank President Mario Draghi are projected to speak at the Jackson Hole Economic Policy Symposium.
  • The Energy Information Administration’s weekly report on natural gas stocks is schedule for release at 10:30 a.m. ET.
  • The Kansas City Fed manufacturing index for August will be released at 11:30 a.m. ET.
  • Data on money supply for the recent week will be released at 4:30 p.m. ET.

ANALYST RATINGS

  • JP Morgan upgraded Eaton Vance (NYSE: EV) from Underweight to Neutral
  • Stephens upgraded Chipotle (NYSE: CMG) from Underweight to Equal-Weight
  • Credit Suisse upgraded Portola Pharmaceuticals (NASDAQ: PTLA) from Neutral to Outperform
  • Credit Suisse downgraded Teva (NYSE: TEVA) from Neutral to Underperform
  • Barclays downgraded Whole Foods from Overweight to Equal-Weight

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