The Market In 5 Minutes

IN THE NEWS

BENZINGA

Power Solutions International Inc PSIX shares plunged as much as 30 percent Tuesday on a report the company would be delisting from Nasdaq: Link

Health insurance companies are meeting with CMS Administrator Seema Verma today to try to determine if President Donald Trump intends to pull $7 billion in funding from companies that sell plans on Affordable Care Act exchanges: Link

THE WALL STREET JOURNAL

President Donald Trump’s expected choice to be vice chairman at the Federal Reserve has called for setting interest rates using a formula, setting up a clash with current officials who have warned such an approach could undermine the central bank’s effectiveness: Link

The Navy confirmed Tuesday that it didn’t send one of its aircraft carriers directly toward North Korea amid growing tensions with Pyongyang, despite representations by President Donald Trump and his top defense advisers that it was on its way: Link

REUTERS

U.S. President Donald Trump is "absolutely not" trying to talk down the strength of the dollar, Treasury Secretary Steven Mnuchin was quoted as saying in the Financial Times on Wednesday: Link

BlackRock Inc BLK, the world's biggest asset manager, reported a 31 percent rise in quarterly profit helped by higher investment advisory fees and securities lending revenue: Link

OPEC Secretary-General Mohammad Barkindo said on Wednesday that all oil producers taking part in a supply-cut pact are committed to bringing global inventories down to the industry's five year average and restoring stability to the market: Link

BLOOMBERG

As a European ban on bundling research with brokerage services looms, banks are sounding out asset managers and hedge funds on what they’d be prepared to pay: Link

Millennial shoppers are reaching their prime spending years, and Generation Z isn’t far behind. That has brands scrambling to curry favor with young consumers: Link

THE NEW YORK TIMES

Facebook FB barged into Snap Inc SNAP's happy Venice Beach, Calif., mansion, took a solid inventory of the goods, then lifted the crown jewels: Link

ECONOMIC DATA

• The MBA’s index of mortgage application activity for the latest week is schedule for release at 7:00 a.m. ET.
• The Energy Information Administration’s weekly report on petroleum inventories is schedule for release at 10:30 a.m. ET.
• Boston Federal Reserve Bank President Eric Rosengren is set to speak in Annandale-on-Hudson, N.Y. at 12:30 p.m. ET.
• The Federal Open Market Committee will release its latest Beige Book report at 2:00 p.m. ET.

ANALYST RATINGS

• Credit Suisse upgraded Coca-Cola KO to Outperform
• Citigroup upgraded Goldman Sachs GS to Neutral
• Barclays upgraded HP HPQ to Overweight
• Morgan Stanley downgraded Sirius XM SIRI to Underweight
• Credit Suisse downgraded Grainger GWW to Underperform
• Morgan Stanley downgraded Energizer ENR 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 or email minutes@benzinga.com.