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The Market In 5 Minutes: Tesla In China, GE Downgrades

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The Market In 5 Minutes: Tesla In China, GE Downgrades

IN THE NEWS

Benzinga

Ever wonder what Gene Munster’s favorite AI play is? Or the coffee flavor that fueled his famous Apple Inc. (NASDAQ: AAPL) coverage? Now’s your chance to ask #AskGene: Link

The "Cult of personality" companies have taken a hit in 2017: Link

The stock market is soaring, with the S&P 500 having gained roughly 14 percent in the year-to-date period. The major indexes are hitting fresh highs session after session, with earnings proving to be the most recent catalyst: Link

Wall Street Journal

Electric-car maker Tesla Inc. (NASDAQ: TSLA) has reached an agreement to set up its own manufacturing facility in Shanghai, according to people briefed on the plan, a move that could help the company gain traction in China’s fast-growing EV market: Link

President Donald Trump is siding with Republican Senate incumbents in key re-election races, potentially putting him on a collision course with Steve Bannon, the onetime White House chief strategist who has declared a “season of war” on their party’s establishment: Link

Reuters

Bitcoin is booming, digital currency hedge funds are sprouting at the rate of two a week and the value of all cryptocurrencies has surged tenfold this year to more than $170 billion: Link

The bank, whose fixed-income trading revenue slumped last quarter, has signed a multi-year deal to use Mosaic Smart Data’s technology division globally, the companies said in a joint statement released on Sunday: Link

Bloomberg

Under siege for letting their platforms be co-opted by Russian hackers during the 2016 election, Silicon Valley companies are learning what many businesses with interests in Washington have long known: It pays to have staff with government security clearances: Link

Christmas plans face ruin for finance industry as MiFID II looms: Link

ECONOMIC DATA

  • The Chicago Fed National Activity Index is schedule for release at 8:30 a.m. ET.
  • The Treasury will auction 3-and 6-month bills at 11:30 a.m. ET.

ANALYST RATINGS

  • JP Morgan upgraded SM Energy (NYSE: SM) from Neutral to Overweight
  • Wells Fargo upgraded Dr Pepper Snapple (NYSE: DPS) from Market Perform to Outperform
  • Canaccord upgraded MuleSoft (NYSE: MULE) from Hold to Buy
  • Jefferies downgraded Aerojet Rocketdyne (NYSE: AJRD) from Buy to Hold
  • Morgan Stanley downgraded GE (NYSE: GE) from Equal-Weight to Underweight
  • UBS downgraded GE 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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