The Market In 5 Minutes: Tariffs, NXPI, Powell And More

IN THE NEWS

Not a month after announcing a hold on the trade war, President Donald Trump approved Thursday night about $50 billion in tariffs on Chinese exports. The Administration is making amendments to an early list of about 1,300 targeted goods: Link

A mysterious volatility trader known only as “50 Cent” appears to have returned to the market this week, making large bets on an uptick in market volatility. Here’s a look at what they've been buying and what it means: Link

China is yet to approve U.S. chipmaker Qualcomm Inc’s QCOM proposed $44 billion acquisition of NXP Semiconductors NXPI, three people close to the talks said, dismissing an earlier media report that said Beijing had already greenlit the deal: Link

Alan Greenspan famously said he’d mastered the art of mumbling “with great incoherence” as Federal Reserve chairman. Jerome Powell is attempting the opposite approach: Link $

Banks across the U.S. have closed nearly 9,000 branches this decade. Yet many smaller banks are in building mode, a sign that broader economic growth is taking hold and community lenders are recovering after lean postcrisis years: Link $

The hidden cost of trying to land Amazon's AMZN HQ2: Link

ECONOMIC DATA

  • US NY Empire State Manufacturing Index for Jun 25.00 vs 19.00 Est; Prior 20.10
  • The University of Michigan's consumer sentiment index for June is schedule for release at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week will be released at 1:00 p.m. ET.
  • Dallas Federal Reserve Bank President Robert Kaplan is set to speak at 1:30 p.m. ET.
  • The Treasury International Capital report for April is schedule for release at 4:00 p.m. ET.

ANALYST RATINGS

  • KeyBanc upgrades Charles River CRL from Sector Weight to Overweight
  • Canaccord upgrades Badger Meter BMI from Sell to Hold
  • JPMorgan downgrades Allegheny Technologies ATI from Neutral to Underweight
  • JPMorgan downgrades Retail Properties RPAI from Overweight 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: NewsGlobalTop StoriesPre-Market OutlookMarketsMarket in 5 minutes
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...