The Market In 5 Minutes: Trump, Tillerson, Kudlow, GE And More
IN THE NEWS
President Trump has ousted Secretary of State Rex Tillerson and plans to nominate CIA Director Mike Pompeo to replace him as the nation’s top diplomat, orchestrating a major change to his national security team amid delicate negotiations with North Korea, White House officials said Tuesday: Link
The White House's tariffs on imported aluminum and steel are proving controversial and have been met with ire by plenty of U.S. trading partners. While some industry and sector exchange traded funds are benefiting from the tariffs, some surprising funds could be pinched by the protectionist trade policies: Link
Marijuana companies received more than $1.2 billion in investments over the first five weeks of the year, matching deals for all of 2016: Link
President Trump on Monday blocked Broadcom Ltd.’s (NASDAQ: AVGO) $117 billion hostile bid for Qualcomm Inc. (NASDAQ: QCOM), capping a remarkable series of moves by the Trump administration reflecting officials’ concerns about an intensifying arms race between the U.S. and China over advanced technologies: Link $
General Electric Co. (NYSE: GE) didn’t pay a cash bonus last year to its top executives at corporate headquarters, which it said was the first time in the company’s 125-year history: Link $
CNBC personality Larry Kudlow has emerged as President Trump’s favorite to replace Gary Cohn, the outgoing director of the White House National Economic Council, two people familiar with the matter said: Link
ECONOMIC DATA
Redbook Reports US Retail Sales During First Week Of Mar. Down 0.3% MoM, Up 2.9% YoY
CPI (MoM) for Feb 0.20% vs 0.20% Est; Prior 0.50%. CPI (YoY) for Feb 1.80% vs 2.20% Est; Prior 2.10%
Core CPI (MoM) for Feb 0.20% vs 0.20% Est; Prior 0.30%
The Treasury is set to auction 4-week bills at 11:30 a.m. ET.
ANALYST RATINGS
KeyBanc upgraded Lincoln Electric (NASDAQ: LECO) from Sector Weight to Overweight
BMO upgraded Centennial Resource (NASDAQ: CDEV) from Market Perform to Outperform
BMO downgraded WildHorse (NYSE: WRD) from Outperform to Market Perform
KeyBanc downgraded Five9 (NASDAQ: FIVN) from Overweight to Sector Weight
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