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IN THE NEWS

Benzinga

Hurricane Harvey, which slammed Houston and east Texas just before Hurricane Irma began bearing down on Florida, could cost an estimated $180 billion in damages, eclipsing the inflation-adjusted toll wrought by Katrina in 2005: Link

Just about as soon as the Apple Inc (NASDAQ: AAPL) iPhone 8 announcement was made, there has been speculation of a possible production delay: Link

Wall Street Journal

Global stocks and the U.S. dollar edged higher Monday and haven assets retreated, as fears eased among investors about a standoff with North Korea and the impact of Hurricane Irma on the U.S. economy: Link

The havoc wreaked by major summer storms stands to deepen a global crude-supply glut that has depressed oil prices for more than three years: Link

Reuters

The UN Security Council is set to vote on Monday on a watered-down U.S.-drafted resolution to impose new sanctions on North Korea over its latest nuclear test, diplomats said, but it was unclear whether China and Russia would support it: Link

France, Germany, Italy and Spain want digital multinationals like Amazon.com, Inc. (NASDAQ: AMZN) and Google to be taxed in Europe based on their revenues, rather than only profits as now, their finance ministers said in a joint letter: Link

Bloomberg

The U.S. is poised to experience its first annual decline in solar-panel installations, as a drop in rooftop demand slows growth in the world’s second-biggest market: Link

China plans to ban trading of bitcoin and other virtual currencies on domestic exchanges, dealing another blow to the $150 billion cryptocurrency market after the country outlawed initial coin offerings last week: Link

ECONOMIC DATA

  • The Treasury is set to auction 3-and 6-month bills at 10:00 a.m. ET.
  • The Treasury will auction 3-year notes at 11:30 a.m. ET.

ANALYST RATINGS

  • Cowen upgraded Allscripts Healthcare (NASDAQ: MDRX) from Market Perform to Outperform
  • KeyBanc upgraded ABM Industries (NYSE: ABM) from Sector Weight to Overweight
  • Goldman Sachs upgraded WEX Inc (NYSE: WEX) from Neutral to Buy
  • Deutsche Bank downgraded Snap Inc (NYSE: SNAP) from Buy to Hold
  • Jefferies downgraded Seagate Technology PLC (NASDAQ: STX) from Buy to Hold
  • Credit Suisse downgraded GrubHub (NYSE: GRUB) from Outperform to Neutral

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

 

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