Market Overview

The Market In 5 Minutes: Budget Deal, MoviePass, Nvidia, And More

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IN THE NEWS

After appearing to have begun recovery from the early week sell-off, the markets took another big dip Thursday. The S&P 500 closed down 3.8 percent, Dow Jones Industrial Average 4.2 percent and NASDAQ Composite 3.9 percent. The VIX closed up about 24 percent: Link

NVIDIA Corporation (NASDAQ: NVDA) shares spiked in after-hours trading after posting a big fourth quarter earnings beat: Link

MoviePass on Friday will lower its monthly price from $9.95 to $7.95, in the company’s first bundled package that will include a subscription to streaming service Fandor: Link

The Senate approved a breakthrough two-year budget deal and stopgap spending bill early Friday, sending the package to the House too late to prevent a government shutdown that began at midnight: Link $

Barclays is likely to follow other major lenders in the United States in stopping customers from buying Bitcoin and other cryptocurrencies with its credit cards, according to an interview with a senior executive at its credit card unit: Link

China’s Ant Financial Services Group is planning to raise up to $5 billion in fresh equity that could value the online payments giant at more than $100 billion, people familiar with the move told Reuters: Link

A former Credit Suisse Group (NYSE: CS) wealth manager was found guilty of diverting millions of francs from client accounts to cover mounting trading losses in one of the biggest financial crime cases in Swiss history: Link

Not a moment too soon, America's biggest banks have moved to ban their customers from using credit cards to buy Bitcoin or other cryptocurrencies: Link

ECONOMIC DATA

  • Data on wholesale trade for December will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET.

ANALYST RATINGS

  • Benchmark upgraded eGain (NASDAQ: EGAN) from Hold to Buy
  • RBC upgraded Chevron (NYSE: CVX) from Underperform to Sector Perform
  • Benchmark downgraded Expedia (NASDAQ: EXPE) from Buy to Hold
  • DA Davidson downgraded CSS Industries (NYSE: CSS) 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

 

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