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The Market In 5 Minutes: Low Floats, Ron Johnson, And Jobless Claims

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The Market In 5 Minutes: Low Floats, Ron Johnson, And Jobless Claims

IN THE NEWS

In a world of wars and walls, Delta Air Lines, Inc. (NYSE: DAL) claims a goal of unity: Link

A handful of under-the-radar stocks are making massive moves on Wednesday as momentum traders pile into some particularly explosive small-cap stocks: Link

Sen. Ron Johnson (R., Wis.) said he opposes the Senate Republican tax package, becoming the first GOP voice of dissent that, if it gains momentum, could force significant changes or jeopardize the party’s goal to pass the bill before the end of the year: Link

As officials for the U.S., Canada and Mexico convene in Mexico City this week for talks to remake the North American Free Trade Agreement, the countries’ top trade officials will stay home, leaving their working-level teams to dig into the most difficult issues: Link

U.S. No. 3 carrier T-Mobile US (NASDAQ: TMUS) will propose a “significant” share buyback that could start in December, finance chief Braxton Carter said on Thursday, a sign of confidence after the collapse of its merger with Sprint Corp (NYSE: S): Link

Federal Reserve officials are pushing for a potentially radical revamp of the playbook for guiding U.S. monetary policy, hoping to seize a moment of economic calm and leadership change to prepare for the next storm: Link

The technical revolution in finance is being stymied because computer experts lack influence in boardrooms and their bosses don’t understand their work and are reluctant to fund it, according to a survey: Link

Wall Street banks secretly shared client information in online chat rooms in order to rig auctions for the $14 trillion US Treasurys market, according to an explosive lawsuit filed in Manhattan federal court on Wednesday: Link

ECONOMIC DATA

  • USA Initial Jobless Claims for Nov 10 249.0K vs 235.0K Est; Prior 239.0K. Continuing Claims for Nov 03 1.86M vs 1.90M Est; Prior 1.90M
  • Export Prices (MoM) for Oct 0.00% vs 0.40% Est; Import Prices (MoM) for Oct 0.20% vs 0.40% Est
  • USA Philadelphia Fed Manufacturing Index for Nov 18.90 vs 25.00 Est; Prior 27.90
  • Cleveland Federal Reserve Bank President Loretta Mester is set to speak in Washington at 9:10 a.m. ET.
  • Data on industrial production for October will be released at 9:15 a.m. ET.
  • The housing market index for November is schedule for release at 10:00 a.m. ET.
  • The Energy Information Administration’s weekly report on natural gas stocks in underground storage is schedule for release at 10:30 a.m. ET.
  • Dallas Federal Reserve Bank President Robert Kaplan will speak in Houston at 1:10 p.m. ET.
  • Federal Reserve Governor Lael Brainard is set to speak in Ann Arbor, Michigan at 3:45 p.m. ET.
  • Data on money supply for the recent week will be released at 4:30 p.m. ET.

ANALYST RATINGS

  • JP Morgan upgraded PTC Therapeutics (NASDAQ: PTCT) from Underweight to Neutral
  • Deutsche Bank upgraded Dollar General (NYSE: DG) from Hold to Buy
  • Morgan Stanley upgraded Constellium NV (NYSE: CSTM) from Equal-Weight to Overweight
  • JP Morgan downgraded LaSalle Hotels (NYSE: LHO) from Neutral to Underweight
  • Baird downgraded Diplomat Pharmacy (NYSE: DPLO) from Outperform to Neutral
  • Jefferies downgraded Triangle Capital (NYSE: TCAP) 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.

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