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

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 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 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 EGAN from Hold to Buy
• RBC upgraded Chevron CVX from Underperform to Sector Perform
• Benchmark downgraded Expedia EXPE from Buy to Hold
• DA Davidson downgraded CSS Industries 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.