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

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The Market In 5 Minutes: AT&T-Time Warner Appeal, Johnson & Johnson Lawsuit, Theresa May And More
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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. (NASDAQ: 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 (NYSE: 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 (NYSE: T) Time Warner Inc. (NYSE: 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 (NYSE: BLK) from Market Perform to Outperform
  • Goldman upgrades Diageo (NYSE: DEO) from Neutral to Buy
  • Raymond James downgrades AT&T (NYSE: T) Outperform to Market Perform
  • Morgan Stanley downgrades Incyte (NASDAQ: 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 minutesNews Global Top Stories Pre-Market Outlook Markets Best of Benzinga

 

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