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The Market In 5 Minutes: Playing The Crypto Trend, Holiday Shopping, And A Couple Big Downgrades

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The Market In 5 Minutes: Playing The Crypto Trend, Holiday Shopping, And A Couple Big Downgrades

IN THE NEWS

Between cryptocurrencies and the Internet of Things, a number of firms boast exposure to the trend. Here are nine opportunities traders are picking: Link

FILA, a mid-market footwear and apparel company that some had left for dead, has shifted its image to an on-trend fashion brand: Link

Wal-Mart Stores Inc. (NYSE: WMT) and Amazon.com Inc. (NASDAQ: AMZN) battled to capture spending over the holiday weekend, as the shifts that have upended the retail industry this year were on display: fewer people visited traditional stores on Thanksgiving and Black Friday while online purchases continued to surge: Link

An Obama-era official at the Consumer Financial Protection Bureau sued the Trump administration on Sunday night to block budget director Mick Mulvaney from taking control of the agency: Link

World stocks edged lower on Monday, led by a fall in Chinese share prices and a sell-off in South Korean tech stocks that kept risk appetite muted, while the euro hit a two-month high against the dollar on optimism around German coalition talks: Link

The Senate tax bill is headed for a marathon debate this week with the aim to hold a floor vote as early as Thursday: Link

ECONOMIC DATA

  • The new home sales report for October is schedule for release at 10:00 a.m. ET.
  • The Dallas Fed manufacturing index for November will be released at 10:30 a.m. ET.
  • Minneapolis Federal Reserve Bank President Neel Kashkari is set to speak in Winona, Minnesota at 6:30 p.m. ET.
  • The Treasury is set to auction 6-month bills and 2-year notes at 11:00 a.m. ET.
  • The Treasury will auction 3-month bills and 5-year notes at 11:00 a.m. ET.
  • New York Federal Reserve Bank President William Dudley will speak in New York at 7:00 p.m. ET.

ANALYST RATINGS

  • Bank of America upgraded Ciena (NYSE: CIEN) from Neutral to Buy
  • Cowen upgraded Constellium (NYSE: CSTM) from Market Perform to Outperform
  • BTIG Research downgraded Square (NYSE: SQ) to Sell
  • Loop Capital downgraded Norfolk Southern (NYSE: NSC) from Hold to Sell
  • UBS downgraded Buffalo Wild Wings (NASDAQ: BWLD) from Buy to Neutral
  • Deutsche Bank downgraded SolarEdge (NASDAQ: SEDG) 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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