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The Market In 5 Minutes: The Latest On North Korea, Building Permits, Fintech Awards And More

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The Market In 5 Minutes: The Latest On North Korea, Building Permits, Fintech Awards And More
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IN THE NEWS

The largest blockchain companies will be bigger than Apple Inc. (NASDAQ: AAPL) and Alphabet's (NASDAQ: GOOGL) Google, according to Alex Mashinksy: Link

The border between financial institutions and fintech startups is similar to the precise nature of how prescription drugs target proteins, IBM (NYSE: IBM) Chief Technology Officer Tom Eck said Tuesday at the 2018 Benzinga Global Fintech Awards: Link

A senior North Korean official said Pyongyang isn’t interested in a summit with the U.S. focused solely on denuclearization and accused Washington of trying to “impose on our dignified state the destiny of Libya or Iraq.”: Link $

Following some of their strongest years ever, credit-card issuers are grappling with an uneasy future: Link $

Amazon.com, Inc. (NASDAQ: AMZN) and Whole Foods Market are making a surgical strike in the already brutal grocery price war: Link

U.S. 10-year Treasury yields will move in a 3 percent to 3.5 percent range for the rest of the year as the Federal Reserve continues raising interest rates, said Robert Mead, co-head of Asia-Pacific at Pacific Investment Management Co: Link $

ECONOMIC DATA

  • US MBA mortgage applications w.e. 11 May -2.7% vs -0.4% prior
  • US Housing Starts (MoM) for Apr -3.70% vs -0.70% Est; Prior 1.90%. US Building Permits (MoM) for Apr -1.80% vs -2.30% Est; Prior 4.40%
  • Federal Reserve Bank of Atlanta President Raphael Bostic is set to speak at 8:30 a.m. ET.
  • Data on industrial production for April will be released at 9:15 a.m. ET.
  • The Energy Information Administration’s weekly report on petroleum inventories in the U.S.is schedule for release at 10:30 a.m. ET.
  • St. Louis Fed President James Bullard will speak at 6:30 p.m. ET.

ANALYST RATINGS

  • Jefferies upgraded Lyondell Basell (NYSE: LYB) from Hold to Buy
  • Susquehanna upgraded AMD (NASDAQ: AMD) from Negative to Neutral
  • Jefferies downgraded 3M (NYSE: MMM) from Buy to Hold
  • KeyBanc downgraded Vipshop (NYSE: VIPS) from Overweight to Sector 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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