The Market In 5 Minutes: Durable Goods, Benchmark Rate, Tesla's Pickup Truck And More

IN THE NEWS

How EVs are forcing a relationship change between OEMs, energy suppliers, and governments: Link

President Donald Trump slammed Harley-Davidson Inc HOG Tuesday for using tariffs as an "excuse" to execute previously planned production shifts to overseas plants: Link

420 Investor: Cannabis drug approval creates "logic issue" for the US government: Link

Two U.S. senators urged President Donald Trump on Tuesday to reconsider his agreement with ZTE Corp, saying lifting a ban on China’s second-largest telecommunications maker poses “a significant threat” to national security: Link

While Tesla TSLA investors bite their nails over the carmaker's hitting a critical production target, CEO Elon Musk lit up the internet Tuesday with talk about an all-electric pickup truck: Link

The Federal Reserve recently tweaked how it sets short-term interest rates in an effort to keep them from drifting too high—but an increase in its benchmark raises questions about its ability to keep borrowing costs in check: Link $

ECONOMIC DATA

• USA Core Durable Goods Orders (MoM) for May -0.30% vs 0.50% Est; Prior 0.90%
• The pending home sales index for May is schedule for release at 10:00 a.m. ET.
• The Energy Information Administration’s weekly report on petroleum inventories in the U.S. will be released at 10:30 a.m. ET.
• Federal Reserve Vice Chairman Randal Quarles is set to speak in Sun Valley, Idaho at 11:00 a.m. ET.
• Boston Federal Reserve Bank President Eric Rosengren will speak in Boston at 12:15 p.m. ET.
• The Treasury is set to auction 5-year notes at 1:00 p.m. ET.

ANALYST RATINGS

• BTIG upgrades Yum Brands YUM from Neutral to Buy
• Berenberg upgrades Carnival CCL from Hold to Buy
• JPMorgan downgrades Molina Healthcare MOH 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.