Market Overview

The Market In 5 Minutes: Tech Stocks Look To Bounce Back

The Market In 5 Minutes: Tech Stocks Look To Bounce Back



The current bull market is about 9 years old, having the honor of being the second longest since the end of World War II: Link

Since Sept. 1, the price of bitcoin has plummeted 26.3 percent amid negative headlines out of China and bearish commentary from notable Wall Street investors. On Sept. 22, JPMorgan Chase & Co. (NYSE: JPM) CEO Jamie Dimon doubled down on his anti-bitcoin rhetoric, but JPMorgan has actually been buying bitcoin on the September dip: Link

Wall Street Journal

Republicans face a daunting challenge as their tax plan comes into sharper focus: They are trying to fit more than $5 trillion of tax cuts inside a $1.5 trillion box: Link

North Korea’s foreign minister warned his country would shoot down American warplanes even if they are outside of the country’s airspace, in an escalation Monday of the threat of a military confrontation: Link


Technology stocks including Facebook (NASDAQ: FB), Microsoft (NASDAQ: MSFT) and Alphabet (NASDAQ: GOOGL) dropped sharply on Monday, increasing worries that the top-performing sector is falling out of favor as investors look elsewhere for cheaper opportunities: Link

Chinese e-commerce firm Alibaba Group (NYSE: BABA) announced it will invest 100 billion yuan ($15.12 billion) over five years to build a global logistics network and also take control of a $20 billion unit, underpinning an aggressive overseas expansion: Link


President Donald Trump said Puerto Rico is in “deep trouble” as devastation brought by Hurricane Maria adds to the crippling debts that have already pushed the U.S. territory into a record-setting bankruptcy: Link

U.S. crude was back in a bull market Tuesday as Turkey threatened to shut down Kurdish oil exports in response to the region’s independence vote, while Trafigura Group and Citigroup Inc. added to warnings of a looming supply squeeze: Link


  • The Johnson Redbook Retail Sales Index for the latest week is schedule for release at 8:55 a.m. ET.
  • The S&P Corelogic Case-Shiller home price index for July will be released at 9:00 a.m. ET.
  • Cleveland Federal Reserve Bank President Loretta Mester is set to speak in Cleveland, Ohio at 9:30 a.m. ET.
  • Chicago Federal Reserve Bank President Charles Evans will speak in Chicago at 9:30 a.m. ET.
  • Data on new home sales for August will be released at 10:00 a.m. ET.
  • The Conference Board consumer confidence index for September is schedule for release at 10:00 a.m. ET.
  • The Richmond Fed's manufacturing index for September will be released at 10:00 a.m. ET.
  • Federal Reserve Governor Lael Brainard is set to speak in Washington at 10:30 a.m. ET.
  • Atlanta Federal Reserve Bank President Raphael Bostic will speak in Atlanta at 12:30 p.m. ET.
  • Federal Reserve Chair Janet Yellen is set to speak in Cleveland at 12:45 p.m. ET.
  • The Treasury is set to auction 4-week bills at 11:30 a.m. ET.
  • The Treasury will auction 2-year notes at 1:00 p.m. ET.


  • KeyBanc upgraded Summit Hotel Properties (NYSE: INN) from Sector Weight to Overweight
  • JP Morgan upgraded Macerich (NYSE: MAC) from Neutral to Overweight
  • Atlantic Equities upgraded L Brands (NYSE: LB) from Neutral to Overweight
  • Baird downgraded Calgon Carbon (NYSE: CCC) from Outperform to Neutral
  • JP Morgan downgraded Taubman Centers (NYSE: TCO) from Overweight to Neutral
  • Deutsche Bank downgraded JPMorgan 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.

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


Related Articles (CCC + BABA)

View Comments and Join the Discussion!

Jim Cramer Shares His Thoughts On Centurylink, US Steel And More

Is It Finally Time For Oil ETFs To Shine?