The Market In 5 Minutes

IN THE NEWS

BENZINGA

Luxury coat maker Canada Goose GOOS celebrated a big pop on its first day of trading on the NYSE. Shares initially soared 25 percent as investors rushed in to get a piece of the popular apparel company: Link

Just days after Valeant Pharmaceuticals Intl Inc VRX shares took a steep tumble below the $11 level, the stock is almost back to an important level at $12: Link

Colorado has collected more than $369 million in taxes from cannabis in the last three years: Link

THE WALL STREET JOURNAL

Republicans were quick to lodge objections on Thursday to President Donald Trump’s budget plans, many of which trim away smaller programs that help the sort of local communities he vowed to rejuvenate during the campaign: Link

Since the election of President Trump, the stock market has soared, bond yields have risen, and economists have raised their forecasts for economic growth and inflation. Here’s the catch: Most forecasters in The Wall Street Journal’s monthly survey of economists believe the boost will be temporary: Link

REUTERS

A U.S. policy of strategic patience with North Korea has ended, Secretary of State Rex Tillerson said in South Korea on Friday, adding that military action would be "on the table" if North Korea elevated the threat level: Link

India's small and medium-sized generic drugmakers say the threat of tougher rules and higher barriers for outsiders in the U.S. healthcare market will force many to find a niche or focus their expansion efforts on other countries: Link

BLOOMBERG

Tesla is ready to power some grids. And not just in California or Australia: Link

Financial markets are telling Janet Yellen there’s more work to be done — or else: Link

Carl Icahn, the billionaire investor and adviser to President Donald Trump, said he’s betting on a decline in the market for renewable-fuel credits that he’s urging the president to overhaul: Link

THE NEW YORK TIMES

In the parched terrain just south of the United States border, the prices of food and other necessities follow the dollar, whose value has been climbing: Link

ECONOMIC DATA

• Industrial Production (MoM) for Feb 0.00% vs 0.20% consensus estimate; Manufacturing Outputs (MoM) for Feb 0.50% vs 0.40% consensus estimate.
• The University of Michigan's consumer sentiment index for March is schedule for release at 10:00 a.m. ET.
• The index of leading economic indicators for February will be released at 10:00 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

• Wunderlich upgraded Adobe Systems ADBE from Hold to Buy
• FBR Capital upgraded L Brands LB from Market Perform to Outperform
• Morgan Stanley upgraded Dean Foods DF from Neutral to Overweight
• Baird downgraded Patheon PTHN from Outperform to Neutral
• Citigroup downgraded SeaWorld Entertainment Inc SEAS from Neutral to Sell
• Goldman Sachs downgraded Macerich MAC from Neutral to Sell

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.