The Market In 5 Minutes: AT&T-Time Warner Appeal, Johnson & Johnson Lawsuit, Theresa May And More

IN THE NEWS

Big banks, among the early reporters, are set to issue quarterly earnings reports Friday. At the outset, the climate looks brighter for the banks, as markets remain volatile — a prerequisite for better trading revenues and robust capital market activity: Link

HBO has been dethroned. After a 17-year reign as content king, the premium producer has surrendered its leadership in total Emmy nods to Netflix, Inc. NFLX: Link

President Donald Trump directly criticized Prime Minister Theresa May’s Brexit strategy, saying it had probably killed off hope of a U.S.-British trade deal and that she had failed to take his advice on how to negotiate with the European Union: Link

Employees at several of the world’s biggest technology companies have been exercising newfound political power where they work, pushing their bosses on business ethics with help from established and fledgling nonprofit groups: Link

A St. Louis jury on Thursday awarded nearly $4.7 billion in total damages to 22 women and their families after they claimed asbestos in Johnson & Johnson JNJ talcum powder contributed to their ovarian cancer in the first case against the company that focused on asbestos in the powder: Link

The Trump administration’s renewed battle against AT&T Inc.’s T Time Warner Inc. TWX deal signals that it still sees a path to undoing the blockbuster merger -- even after a stinging rebuke of its case last month: Link $

China’s monthly trade surplus with the U.S. rose to a record in June, underlining the imbalance at the heart of an escalating trade war between the world’s two largest economies: Link $

ECONOMIC DATA

  • Data on import and export prices for June will be released at 8:30 a.m. ET.
  • The University of Michigan's consumer sentiment index for July is schedule for release at 10:00 a.m. ET.
  • The Fed is schedule to release their semiannual Monetary Policy Report to Congress today.
  • Federal Reserve Bank President Raphael Bostic is set to speak in Falls Church at 12:30 p.m. ET.
  • The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET.

ANALYST RATINGS

  • KBW upgrades Blackrock BLK from Market Perform to Outperform
  • Goldman upgrades Diageo DEO from Neutral to Buy
  • Raymond James downgrades AT&T T Outperform to Market Perform
  • Morgan Stanley downgrades Incyte INCY from Overweight to Equal-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 minutesNewsGlobalTop StoriesPre-Market OutlookMarkets

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.