The Market In 5 Minutes: Nike Beats, Bolton Replaces McMaster, Toys 'R' Us Founder Dies

Benzinga Newsdesk
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IN THE NEWS

The Trump administration is imposing up to $60 billion of new tariffs on imported Chinese goods in response to the U.S. trade deficit with China: Link

Nike Inc (NYSE: NKE) shares ticked lower Thursday following a Dow Jones report that Pershing Square Capital's Bill Ackman sold his high profile stake in the company. Nike reported a Q3 earnings beat after the bell: Link

The Senate passed a $1.3 trillion spending bill early Friday, acting to avert a government shutdown with less than 24 hours to spare and bringing to a close a messy negotiating process over the sprawling measure: Link $

President Donald Trump said he named former Ambassador John Bolton as his new national security adviser, succeeding Lt. Gen. H.R. McMaster: Link $

Japan’s Toshiba Corp faces a Friday deadline to win Chinese antitrust approval to sell its prized $18 billion memory-chip business by end-March, raising the possibility the deadline may be missed and that it will seek alternatives such as an IPO: Link

Jerome Powell dissed the dots when he was a Federal Reserve governor. Now he’s doing the same as central bank chairman: Link

The founder of Toys R Us, Charles Lazarus, died on Thursday — hours before his beloved toy chain was to begin going-out-of-business sales: Link

ECONOMIC DATA

  • USA Durable Goods Orders (MoM) for Feb 3.10% vs 1.50% Est; Prior -3.60%. Durables Excluding Defense (MoM) for Feb 2.50% vs -2.60% Prior

  • New home sales report for February is schedule for release at 10:00 a.m. ET.

  • Minneapolis Federal Reserve Bank President Neel Kashkari will speak in New York at 10:30 a.m. ET.

  • Dallas Federal Reserve Bank President Robert Kaplan is set to speak in Austin at 11:30 a.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

  • Barclays upgraded Carnival (NYSE: CCL) from Equal Weight to Overweight

  • Longbow upgraded Eagle Materials (NYSE: EXP) from Hold to Buy

  • Stifel downgraded Paycom Software (NYSE: PAYC) 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.

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