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The Market In 5 Minutes: Supreme Court Nominations, Tencent's Music Spinoff And

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The Market In 5 Minutes: Supreme Court Nominations, Tencent's Music Spinoff And
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IN THE NEWS

President Donald Trump has said he will announce his latest nomination for the Supreme Court Monday, and his decision could have a lasting impact on U.S. law for a generation. Here’s a look at the two names that have been discussed as Trump’s most likely choices for the High Court vacancy left by retiring Justice Anthony Kennedy: Link

Chinese internet giant Tencent Holdings Ltd said it is looking to spin off and list its online music business, China’s biggest music-streaming company, in the United States: Link

It’s not getting any easier for Univision’s owners: Link

U.K. Prime Minister Theresa May was plunged into crisis after key members of the government quit over Brexit. She faced growing calls to rip up her two-day old blueprint, even as opponents stopped short of calling for her to go: Link $

U.S. Secretary of State Mike Pompeo went to Pyongyang to get Kim Jong Un to give up his nuclear weapons. He left with a harsh reminder that the North Korean leader expects something in return: Link $

Who’s the biggest loser when tariffs are imposed on imports? The surprising answer: exporters: Link $

Wall Street is betting that more well-off Americans will want to be renters: Link $

ECONOMIC DATA

  • Minneapolis Federal Reserve Bank President Neel Kashkari is set to speak in Prior Lake, Minnesota at 9:10 a.m. ET.
  • The Treasury is set to auction 3-and 6-month bills at 11:30 a.m. ET.
  • The TD Ameritrade Investor Movement Index for June is schedule for release at 12:30 p.m. ET.
  • Data on consumer credit for May will be released at 3:00 p.m. ET.

ANALYST RATINGS

  • KeyBanc upgrades Baidu (NASDAQ: BIDU) from Sector Weight to Overweight
  • JPMorgan upgrades Archer-Daniels Midland (NYSE: ADM) from Underweight to Neutral
  • Susquehanna downgrades Oasis Petroleum (NYSE: OAS) Positive to Neutral
  • Jefferies downgrades Procter & Gamble (NYSE: PG) 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.

Posted-In: News Global Top Stories Pre-Market Outlook Markets Best of Benzinga

 

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