The Market In 5 Minutes: Treasury Yields, Twitter Beats, Takeda-Shire And More

IN THE NEWS

Ten-year U.S. Treasury yields hit 3 percent on Tuesday for the first time since 2014, but the stock market hasn’t initially reacted the way investors might expect: Link

Ahead of Facebook's FB report this afternoon, Twitter Inc TWTR reported a Q1 earnings beat: Link

The pop in investments combined with returned volatility has been a boon to brokerages, which make more money when their clients are more active: Link

Investors once attracted to the steady payouts of companies selling staples like breakfast cereal, toothpaste and razors are shopping elsewhere: Link $

Takeda Pharmaceutical Co. moved closer to securing a $64 billion takeover of Shire PLC SHPG after the target said it was willing to recommend that shareholders accept the Japanese firm’s latest proposal and extended a deadline to reach a definitive agreement: Link $

China is looking for billions of dollars in funds to propel its domestic ambitions in chips to cut a heavy reliance on imports, and has invited overseas investors to help it get there: Link

A huge swath of the corporate bond market is looking increasingly vulnerable: Link

President Trump’s Department of Justice gave its expert witness a second chance on Tuesday to make a convincing case against AT&T’s T proposed $85 billion buyout of CNN-owner Time Warner TWX: Link

ECONOMIC DATA

• US MBA mortgage applications w.e. 20 April -0.2% vs +4.9% prior
• The Energy Information Administration’s weekly report on petroleum inventories in the U.S. will be released at 10:30 a.m. ET.
• The Treasury is set to auction 5-year notes at 1:00 p.m. ET.

ANALYST RATINGS

• BMO upgraded Disney DIS from Underperform to Market Perform
• Stifel upgraded Alphabet GOOGL from Hold to Buy
• Jefferies downgraded Fiat Chrysler FCAU from Buy to Hold
• Stifel downgraded Floor & Decor FND 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.