Market Overview

The Market In 5 Minutes: Tax Overhaul In Focus As Senate Passes Budget Plan

The Market In 5 Minutes: Tax Overhaul In Focus As Senate Passes Budget Plan



The numbers spoke for themselves. 22.6 percent. 508 points. 604 million shares. They told the story of the nightmare that shook the markets 30 years ago: Link

U.S. companies have been more generous than ever in returning excess cash to shareholders via dividends. However, thanks to the strong performance of the stock market this year, dividend yields are actually lower than they were in 2016: Link

“Shark Tank” star Kevin O’Leary’s had quite a year. The entrepreneurial-gauntlet-as-television show’s ninth season is still drawing 10 million viewers a night, Plated, a company featured on the show in which he invested, just sold for $300 million, and he launched his very own fintech product, Beanstox, at the Benzinga Global Fintech Awards: Link

Wall Street Journal

Now that the Senate and House have both passed their own 2018 budgets, the sprint to write a major tax bill is on: Link

Secretary of State Rex Tillerson described how he seeks to manage an often-fraught relationship with President Donald Trump, saying he tries to deliver short-term victories to an impatient commander-in-chief while focusing on a longer horizon himself: Link


President Donald Trump’s reversals in the past week on maintaining Obamacare subsidies to insurers are sowing new confusion over what kind of health insurance will be available to consumers, and at what price, when enrollment for 2018 begins in two weeks: Link

Nearly two dozen major companies in technology and other industries are planning to launch a coalition to demand legislation that would allow young, illegal immigrants a path to permanent residency, according to documents seen by Reuters: Link


In what promises to be one small step for space travel, and one giant leap for the next generation of manufacturing, an Israeli startup is planning to land a vehicle on the moon that has crucial parts made using 3-D printing technology: Link

President Donald Trump’s closest advisers are steering him toward choosing either Stanford economist John Taylor or Federal Reserve Board Governor Jerome Powell to be the next Fed chief, according to several people familiar with the process: Link


  • Data on existing home sales for September will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET.
  • Cleveland Federal Reserve Bank President Loretta Mester is set to speak in New York City at 2:00 p.m. ET.
  • Federal Reserve Chair Janet Yellen will speak in Washington at 7:30 p.m. ET.


  • KeyBanc upgraded Steel Dynamics (NASDAQ: STLD) from Sector Weight to Overweight
  • Barclays upgraded Seattle Genetics (NASDAQ: SGEN) from Equal-Weight to Overweight
  • Baird downgraded Celgene (NASDAQ: CELG) from Outperform to Neutral
  • JP Morgan downgraded Kimberly-Clark (NYSE: KMB) from Neutral to Underweight
  • Barclays downgraded Regeneron (NASDAQ: REGN) from Equal-Weight to Underweight

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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