IN THE NEWS
Benzinga
President Donald Trump on Wednesday signed legislation passed overwhelmingly by Congress that slaps Russia with new sanctions and restricts the scandal-plagued president’s ability to weaken them: Link
Forks have been in the news a lot recently due to controversy in the bitcoin community. There was the potential fork that threatened to split bitcoin into two cryptocurrencies after a lengthy “civil war” between miners and developers. That came and went with little issue: Link
Tesla Inc TSLA delivered a big second-quarter earnings beat after Wednesday's close, the last report before the highly-anticipated Model 3 will hit the market: Link
The only thing riskier than Wall Street is betting big on Hollywood blockbusters: Link
Wall Street Journal
President Donald Trump on Wednesday embraced a Senate proposal to cut the number of green cards issued annually by half, as part of his drive to reduce legal as well as illegal immigration into the U.S.: Link
The U.S. case against two former JPMorgan Chase & Co. JPM traders charged with concealing billions of dollars in losses fell apart because a key witness known as the London Whale shifted blame to Chief Executive Officer James Dimon and other top executives, according to a person familiar with the matter: Link
Reuters
New U.S. sanctions will make it harder for Russia to build two gas export pipelines to Europe but the projects are unlikely to be stopped: Link
Amazon.com Inc AMZN is quickly ramping up the billions of dollars a year it spends on creating and licensing TV shows and films, signaling the retailer plans to be in show business for the long haul: Link
Bloomberg
The U.S. labor market -- marked this year by solid job gains, modest wage growth and falling unemployment -- probably delivered more of the same in July: Link
The Bank of England will probably downgrade its forecast for 2017 growth on Thursday as it also announces that interest rates will stay at a record-low 0.25 percent for now: Link
New York Post
The New York insurance company that wrote policies for 800,000 questionable Wells Fargo WFC auto loans has been dragged into the bank’s latest scandal: Link
ECONOMIC DATA
- USA Challenger Job Cuts (YoY) for Jul -9.00% vs -19.30% Prior
- USA Initial Jobless Claims for Jul 28 240.0K vs 242.00 Est; Prior 244.0K. Continuing Claims for Jul 21 1.97M vs 1.96K Est
- The services PMI for July is schedule for release at 9:45 a.m. ET.
- Data on factory orders for June will be released at 10:00 a.m. ET.
- The ISM non-manufacturing index for July will be released at 10:00 a.m. ET.
- The Energy Information Administration’s weekly report on natural gas stocks is schedule for release at 10:30 a.m. ET.
- Data on money supply for the recent week will be released at 4:30 p.m. ET.
ANALYST RATINGS
- JP Morgan upgraded Qualys QLYS from Neutral to Overweight
- Atlantic Equities upgraded Caterpillar CAT from Sell to Neutral'
- KBW Upgrades Pacfic Mercantile PMBC from Market Perform to Outperform
- Morgan Stanley downgraded ADP ADP from Equal-Weight to Underweight
- Jefferies downgraded Time Warner TWX from Buy to Hold
- Benchmark downgraded AMC Entertainment AMC 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 or email minutes@benzinga.com.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.