The Market In 5 Minutes: Travel Ban, Mueller Looking At Deutsche Bank, Snap And McDonald's Upgrades
IN THE NEWS
U.S. investors are cheering the Senate vote on tax reform, sending the Dow Jones Industrial Average higher by nearly 1 percent Monday: Link
If you follow the footwear industry, among the three footwear giants, the sentiment has become pretty clear: adidas AG (ADR) (OTC: ADDYY) is growing, Nike Inc (NYSE: NKE) is in turnaround mode and Under Armour Inc (NYSE: UAA) is under serious pressure: Link
Technology, banking and other industries mounted a new round of lobbying Monday to save a wide range of tax breaks following the last-minute switch in the federal tax overhaul by the U.S. Senate: Link
The Supreme Court on Monday said the Trump administration for now can implement all parts of its latest ban on travelers from certain countries, a significant boost to the White House after a string of setbacks in lower courts: Link
The cafe - one of thousands of trendy, artisan coffee shops in the city - reflects a growing cafe culture in China that’s driving growth for chains like Starbucks Corp (NASDAQ: SBUX) and attracting more competition: Link
Alphabet Inc’s (NASDAQ: GOOGL) YouTube said on Monday it plans to add more people next year to identify inappropriate content as the company responds to criticism over extremist, violent and disturbing videos and comments: Link
The European Union is set to agree on a blacklist of tax havens that could potentially face sanctions for failing to bring their standards in line with the bloc, as it seeks to further step up its fight against opaque practices that facilitate avoidance by multinationals and individuals: Link
Some of the biggest losers under the Republican tax overhaul include upper-middle class families in high-tax areas like New York City, graduate students, government workers and public school teachers: Link
Special prosecutor Robert Mueller zeroed in on President Donald Trump’s business dealings with Deutsche Bank (NYSE: DB)as his investigation into alleged Russian meddling in U.S. elections widens: Link
The Supreme Court on Monday appeared willing to lift a federal ban on sports betting: Link
ECONOMIC DATA
USA Trade Balance for Oct -$48.70B vs -$47.50B Est; Prior Revised from -$43.50B to -$44.90B
US Services Purchasing Managers' Index for November will be released at 9:45 a.m. ET.
The ISM non-manufacturing index for November 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
Jefferies upgraded McDonald's (NYSE: MCD) from Hold to Buy
Barclays upgraded Snap (NYSE: SNAP) from Equal-Weight to Overweight
Mizuho upgraded Depomed (NASDAQ: DEPO) from Neutral to Buy
Morgan Stanley downgraded Madison Square Garden (NYSE: MSG) 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.
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