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The Market In 5 Minutes

Courtesy of Benzinga.

The Market In 5 Minutes

IN THE NEWS

Benzinga

Investors have been riding high this year. The Dow posted nine consecutive all-time high closes in the past two weeks, and traders have responded appropriately: Link

Amid a crackdown on pyramid schemes and the arrests of Shanxinhui management, four government agencies in China have been assigned the task of “resolutely eradicat[ing]” multi-level marketing firms, according to reports by local news sites: Link

A group of more than two dozen CEOs were tapped by President Donald Trump to create recommendations to grow the American manufacturing sector; Three of them resigned yesterday: Link

Wall Street Journal

By ordering his first trade action against Beijing, while amping up pressure on Chinese leaders to rein in Pyongyang’s nuclear menace, U.S. President Donald Trump is bringing to a head two of the most intractable problems that bedevil U.S.-China relations: Link

Loan defaults in a popular program meant to finance energy-saving home upgrades have increased substantially, despite lenders’ claims that few borrowers have missed payments: Link

Reuters

The neo-Nazi website Daily Stormer had its internet domain registration revoked twice in less than 24 hours in the wake of the weekend violence in Charlottesville, Virginia, part of a broad move by the tech industry in recent months to take a stronger hand in policing online hate-speech and incitements to violence: Link

Warren Buffett’s Berkshire Hathaway Inc on Monday said it added a stake in Synchrony Financial (NYSE: SYF), boosting its bet on the credit card industry: Link

Blomberg

Hedge funds have adored the FAANGs for so long it’s no wonder that two of them — Apple Inc. (NASDAQ: AAPL) and Facebook Inc. (NASDAQ: FB) — are losing their appeal: Link

Bill Gates made his largest gift since the turn of the century, giving away Microsoft Corp. (NASDAQ: MSFT) shares that accounted for 5 percent of his fortune, the world’s biggest: Link

ECONOMIC DATA

  • Core Retail Sales (MoM) for Jul 0.50% vs 0.30% Est. USA Retail Sales (MoM) for Jul 0.60% vs 0.40% Est; Prior Revised from -0.20% to 0.30%
  • USA NY Empire State Manufacturing Index for Aug 25.20 vs 10.00 Est; Prior 9.80
  • USA Export Prices (MoM) for Jul 0.50% vs 0.20% Est; Import Prices (MoM) for Jul 0.10% vs 0.10% Est
  • The Johnson Redbook Retail Sales Index for the latest week is schedule for release at 8:55 a.m. ET.
  • Data on business inventories for June will be released at 10:00 a.m. ET.
  • The housing market index for August is schedule for release at 10:00 a.m. ET.
  • The Treasury is set to auction 4-and 52-week bills at 11:30 a.m. ET.

ANALYST RATINGS

  • Deutsche Bank upgraded Wynn (NASDAQ: WYNN) from Hold to Buy
  • Jefferies upgraded Sabra Health Care REIT (NASDAQ: SBRA) from Hold to Buy
  • Cantor Fitzgerald upgraded Snap (NYSE: SNAP) from Neutral to Overweight
  • Jefferies downgraded Zynerba (NASDAQ: ZYNE) from Buy to Hold
  • Goldman Sachs downgraded Banco Santander (NYSE: SAN) from Buy 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 or email minutes@benzinga.com.

Posted-In: Market in 5 minutesNews Global Top Stories Pre-Market Outlook Markets Best of Benzinga


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