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The Market In 5 Minutes: Tax Bill, Bitcoin, 'Today' Show, And More

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The Market In 5 Minutes: Tax Bill, Bitcoin, 'Today' Show, And More
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IN THE NEWS

Attention biotech investors: mark your calendar for these December PDUFA dates: Link

The "Today" Show will go on. NBC’s morning crew were back to the grind Thursday after co-host Matt Lauer was terminated following reports of sexual misconduct. Lauer’s loss was an immediate pain point for the Comcast (NASDAQ: CMCSA) subsidiary, but guaranteed survival through audience and revenue preservation: Link

It’s getting tougher and tougher to find value in the U.S. stock market. By at least one popular investing metric, U.S. stocks have only been this expensive one other time in history, and things didn’t work out so well then: Link

Given the parabolic-like surge of bitcoin, many investors are looking for ways to expose themselves to the digital currency without actually buying it: Link

Senate Republicans hit a significant stumbling block Thursday in their efforts to overhaul the tax code, forcing them to contemplate walking back their plan for a permanent reduction of the corporate tax rate to 20% from 35%: Link

Goldman Sachs Group Inc (NYSE: GS) is trying to figure out how to cater to investors who want to trade bitcoin even though the digital currency remains too volatile for the Wall Street bank to trade itself, according to comments by a representative and its chief executive officer on Thursday: Link

Not every American is feeling the benefits of the stock market rally and re-energized GDP under President Trump: Link

ECONOMIC DATA

  • Data on motor vehicle sales for November will be released today.
  • St. Louis Federal Reserve Bank President James Bullard is set to speak in Little Rock, Arkansas at 9:05 a.m. ET.
  • Dallas Federal Reserve Bank President Robert Kaplan will speak in McAllen, Texas at 9:30 a.m. ET.
  • The manufacturing PMI for November is schedule for release at 9:45 a.m. ET.
  • The ISM manufacturing index for November will be released at 10:00 a.m. ET.
  • Data on construction spending for October will be released at 10:00 a.m. ET.
  • Philadelphia Federal Reserve Bank President Patrick Harker is set to speak in Philadelphia at 10:15 a.m. ET.
  • The Baker Hughes North American rig count report for the recent week is schedule for release at 1:00 p.m. ET.

ANALYST RATINGS

  • Wedbush upgraded Vantiv (NYSE: VNTV) from Neutral to Outperform
  • KeyBanc upgraded Tiffany's (NYSE: TIF) from Sector Weight to Overweight
  • Morgan Stanley upgraded Novo Nordisk (NYSE: NVO) from Equal-Weight to Overweight
  • Goldman downgraded Cummins (NYSE: CMI) from Buy to Neutral
  • Citigroup downgraded Regeneron (NASDAQ: REGN) 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.

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