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The Market In 5 Minutes: Tragedy Rocks The Vegas Strip

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The Market In 5 Minutes: Tragedy Rocks The Vegas Strip

IN THE NEWS

Benzinga

President Donald Trump’s ever-contracting cabinet lost another member Friday with a fresh vacancy in health and human services: Link

Elon Musk is spread pretty thin these days as he manages The Boring Company, SpaceX and Tesla Inc (NASDAQ: TSLA). In turn, Tesla’s spread pretty thin as it balances ventures in automotive manufacturing, solar energy and battery construction: Link

Wall Street Journal

At least 50 people are dead and more than 200 wounded after a shooting late Sunday at a music festival on the Las Vegas Strip: Link

The man who exposed college basketball, Marty Blazer, couldn't believe what he had gotten himself into: Link

Reuters

Facebook Inc (NASDAQ: FB) said it plans on Monday to turn over to the U.S. Congress copies of some 3,000 ads that the social network says were bought on Facebook likely by people in Russia in the months before and after the 2016 U.S. election: Link

Finance minister Philip Hammond said on Monday Britain would continue to lobby the United States over a trade dispute with Canadian planemaker Bombardier, but said there were limits to what it could achieve: Link

Bloomberg

A popular digital-coin exchange is drawing scrutiny from U.S. regulators over a June flash crash that erased most of the value in the second-largest cryptocurrency before traders had time to blink their eyes: Link

On the last page of a nine-page tax plan that calls for slashing business rates, President Donald Trump and congressional Republicans proposed a little-noticed, brand-new tax that may hit companies like Apple Inc. (NASDAQ: AAPL) and Pfizer Inc. (NYSE: PFE): Link

New York Post

Discussions to take Nordstrom (NYSE: JWN) private are in danger of falling apart: Link

ECONOMIC DATA

  • The manufacturing PMI for September is schedule for release at 9:45 a.m. ET.
  • The ISM manufacturing index for September will be released at 10:00 a.m. ET.
  • Data on construction spending for August will be released at 10:00 a.m. ET.
  • The Treasury is set to auction 3-and 6-month bills at 11:30 a.m. ET.
  • Dallas Federal Reserve Bank President Robert Kaplan is set to speak in El Paso, Texas at 2:00 p.m. ET.

ANALYST RATINGS

  • HSBC upgraded Tiffany's (NYSE: TIF) from Hold to Buy
  • Morgan Stanley upgraded Sarepta (NASDAQ: SRPT) from Equal-Weight to Overweight
  • KeyBanc upgraded Generac (NYSE: GNRC) from Sector Weight to Overweight
  • Jefferies downgraded Pepsico (NYSE: PEP) from Buy to Hold
  • Morgan Stanley downgraded Splunk (NASDAQ: SPLK) from Overweight to Equal-Weight
  • Mizuho downgraded Sanderson Farms (NASDAQ: SAFM) 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.

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