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The Market In 5 Minutes: Trump Continues Battle With Media, Helios And Matheson's Wild Ride

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The Market In 5 Minutes: Trump Continues Battle With Media, Helios And Matheson's Wild Ride
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IN THE NEWS

Benzinga

Shopify (NYSE: SHOP)'s unpredictable and erratic behavior seems is a reflection of the fact that even analysts can’t agree on what do to with Shopify: Link

President Donald Trump’s insults, threats and challenges to journalists have led to questions of whether the Commander-in-Chief respects the First Amendment: Link

After trading up 25 percent Tuesday in its fourth consecutive daily rally, Helios and Matheson Analytics Inc (NASDAQ: HMNY) took an abrupt $5 plunge Wednesday off a tweet by short-seller Andrew Left: Link

Wall Street Journal

President Trump is planning to sign an executive order Thursday to initiate the unwinding of the Affordable Care Act, paving the way for sweeping changes to health-insurance regulations by instructing agencies to allow the sale of less-comprehensive health plans to expand: Link

Bank earnings season kicks off with JPMorgan Chase & Co. (NYSE: JPM) and Citigroup (NYSE: C) reporting results on Thursday. Bank of America (NYSE: BAC) and Wells Fargo & Co. (NYSE: WFC) will follow on Friday, and Goldman Sachs Group (NYSE: GS) and Morgan Stanley (NYSE: MS) will announce their earnings next week. Here are five things to keep an eye on as the numbers come in: Link

Reuters

Delta Air Lines Inc (NYSE: DAL) on Wednesday said it would refuse to pay a 300 percent U.S. tariff on Canadian-built Bombardier CSeries jets, raising doubts about its purchase of 75 of the new aircraft at a list price of more than $5 billion: Link

Alphabet Inc (NASDAQ: GOOG)’s Waymo sought at least $1 billion in damages and a public apology from Uber Technologies Inc as conditions for settling its high-profile trade secret lawsuit against the ride-services company, sources familiar with the proposal told Reuters: Link

Bloomberg

Months after the White House proposed ending a tax break for people in high-tax states, President Trump grew angry when he learned that the change would hurt some middle-income taxpayers, according to two people familiar with his thinking: Link

Bitcoin surged to a fresh record Thursday as the enthusiasm for cryptocurrencies showed little signs of abating: Link

ECONOMIC DATA

  • Initial Jobless Claims for Oct 6 257.0K vs 251.0K Est. Continuing Claims for Sep 29 1.89M vs 1.94M Est; Prior Revised from 1.94M to 1.94M
  • USA PPI (MoM) for Sep 0.40% vs 0.40% Est; Core PPI (MoM) for Sep 0.40% vs 0.20% Est Core PPI (YoY) for Sep 2.20% vs 2.00% Est
  • The Energy Information Administration’s weekly report on natural gas stocks in underground storage will be released at 10:30 a.m. ET.
  • Federal Reserve Governor Lael Brainard is set to speak in Washington at 10:30 a.m. ET.
  • Federal Reserve Governor Jerome Powell will speak in Washington at 10:30 a.m. ET.
  • The EIA’s weekly report on petroleum inventories is schedule for release at 11:00 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 September will be released at 2:00 p.m. ET.
  • Data on money supply for the recent week will be released at 4:30 p.m. ET.
  • Atlanta Federal Reserve Bank President Raphael Bostic is set to speak in Hong Kong at 9:15 p.m. ET.

ANALYST RATINGS

  • Keybanc upgraded Physicians Realty Trust (NYSE: DOC) from Sector Weight to Overweight
  • Imperial upgraded Delta Air Lines (NYSE: DAL) from In-Line to Outperform
  • Jefferies downgraded Monro (NASDAQ: MNRO) from Buy to Hold
  • Benchmark downgraded Gluu Mobile (NASDAQ: GLUU) 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: Andrew Left Market in 5 minutesNews Short Sellers Global Top Stories Pre-Market Outlook Markets Best of Benzinga

 

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