Market Overview

The Market In 5 Minutes: Markets Plummet, Volatility Spikes

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The Market In 5 Minutes: Markets Plummet, Volatility Spikes

IN THE NEWS

The Dow Jones Industrial Average and the S&P 500 on Monday had their biggest one-day percentage drops since August 2011: Link

The ongoing controversy surrounding volatility exchange-traded products is poised to grow: Link

With cryptocurrencies becoming all the rage on Wall Street these days, Benzinga compiled an investor glossary of a number of crypto terms that can help investors understand what the heck is going on and why: Link

The long-running global stock rally turned into a rout Monday as the Dow Jones Industrial Average posted its largest-ever, single-day point decline and major indexes in the U.S., Europe and Asia gave up their gains for the year: Link $

Steve Wynn and his legal representatives set up a company separate from his Wynn Resorts Ltd. (NASDAQ: WYNN), according to public records, that helped conceal a $7.5 million payment to a woman who had accused the casino mogul of forcing her to have sex: Link $

Digital currencies such as bitcoin will be in the spotlight again on Tuesday as lawmakers in the U.S. Senate question top markets watchdogs over how to better regulate the highly volatile and risky emerging asset class: Link

The sharp sell-off in stocks that started last week and gathered steam this week lacked a specific trigger -- unlike the last time U.S. shares fell this much, which came in the wake of the U.S. losing its AAA sovereign rating at S&P Global Ratings in 2011: Link

President Donald Trump has five days to decide whether to release a Democratic memo countering Republicans’ claim of misconduct by the FBI and Justice Department in the Russia investigation, a week after he backed full disclosure of the GOP document: Link

Lululemon Athletica Inc. (NASDAQ: LULU) announced Monday that Laurent Potdevin has resigned as CEO effective immediately, saying he fell short of the company’s standards of conduct: Link

ECONOMIC DATA

  • St. Louis Federal Reserve Bank President James Bullard is set to speak in Lexington, Kentucky at 8:50 a.m. ET.
  • The Labor Department's JOLTS report for December is schedule for release at 10:00 a.m. ET.
  • The Treasury is set to auction 4-week bills at 11:30 a.m. ET.
  • The Treasury will auction 3-year notes at 1:00 p.m. ET.

ANALYST RATINGS

  • KeyBanc upgraded Micron (NASDAQ: MU) from Sector Weight to Overweight
  • Barclays upgraded Dr Pepper Snapple (NYSE: DPS) from Equal-Weight to Overweight
  • JPMorgan downgraded Blackstone Mortgage (NYSE: BXMT) from Overweight to Neutral
  • Stephens downgraded Catalent (NYSE: CTLT) from Overweight to Equal-Weight

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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