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The Market In 5 Minutes

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The Market In 5 Minutes
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IN THE NEWS

Benzinga

Apple Inc. (NASDAQ: AAPL) CEO Tim Cook took the wraps off the company’s newest flagship phone, the iPhone X, marking the 10th anniversary of the iconic, game-changing device, which now features "super retina display" facial recognition to unlock the phone: Link

Health Insurance Innovations Inc (NASDAQ: HIIQ)’s stock plummeted 21 percent Monday after MOX Reports published an article suggesting the company could be facing fraud penalties in excess of $100 million: Link

In the gap between the number of Americans who have access to prime credit and the number of Americans who are a good risk, Dave Girouard found enough room for an entire business: Link

Wall Street Journal

Two Senate bills aimed at shaping the future of the Affordable Care Act are facing uncertainty, as the White House voices tepid support for an ACA repeal effort and opposition to a bipartisan bill to shore up insurance markets: Link

The Trump administration said Tuesday it would maintain a hands-off approach to federal regulation of autonomous vehicles, even as government investigators placed some blame on Tesla Inc. (NASDAQ: TSLA)'s Autopilot technology for a fatal crash last year: Link

Reuters

Bitcoin “is a fraud” and will blow up, Jamie Dimon, chief executive of JPMorgan Chase & Co (NYSE: JPM) said on Tuesday: Link

Democratic lawmakers are probing whether retired U.S. General Michael Flynn secretly promoted a U.S.-Russian project to build dozens of nuclear reactors in the Middle East after becoming President Donald Trump’s first national security adviser: Link

Bloomberg

Since news of the Equifax Inc. (NYSE: EFX) breach, Symantec's (NASDAQ: SYMC) LifeLock has seen six times its usual web traffic and the company is enrolling 10 times as many new customers every hour than before the attack was disclosed: Link

Several senior Amazon.com Inc. (NASDAQ: AMZN) executives advocate putting a second headquarters in Boston, according to a person briefed on the matter: Link

New York Post

Nordstrom (NYSE: JWN)’s founding family on Tuesday was close to partnering with a Los Angeles private equity firm to try and take the struggling retailer private — but the effort still faces steep odds, The Post has learned: Link

ECONOMIC DATA

  • MBA Mortgage Applications up 9.9% for the Week
  • PPI (MoM) for Aug 0.20% vs 0.30% Est; PPI (YoY) for Aug 2.40% vs 2.50% Est; Core PPI (MoM) for Aug 0.10% vs 0.20% Est
  • The Energy Information Administration’s weekly report on petroleum inventories is schedule for release at 10:30 a.m. ET.
  • The Treasury is set to auction 30-year bonds at 1:00 p.m. ET.
  • The U.S. Treasury budget report for August will be released at 2:00 p.m. ET.

ANALYST RATINGS

  • Cowen & Co. upgraded DowDuPont (NYSE: DWDP) from Market Perform to Outperform
  • Susquehanna upgraded Finish Line (NASDAQ: FINL) from Neutral to Positive
  • Goldman Sachs upgraded Micron Technology (NASDAQ: MU) from Neutral to Buy
  • Mizuho downgraded Mallinckrodt plc (NYSE: MNK) from Buy to Neutral
  • Baird downgraded Rockwell Collins (NYSE: COL) from Outperform to Neutral
  • Goldman Sachs downgraded ON Semiconductor (NASDAQ: ON) 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.

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

 

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