The Market In 5 Minutes

IN THE NEWS

BENZINGA

The Congressional Budget Office said Monday that the latest health care bill struck in secret by a select group of U.S. senators would chop 22 million people off the health-insurance rolls by 2026, another nail in the coffin of legislation backed by a dwindling number of GOP lawmakers: Link

Starting up your own business can be a big risk but can pay off huge if your idea takes off. There’s no way to guarantee a startup will be a success, but starting a business in a hot, in-demand industry may dramatically improve your chances: Link

Take the ethnic breakdown of a country and filter it through politics and economics and historical context. Factor in trend analyses built from social media and mainstream reporting. Do the math. What do you get?: Link

Avis Budget Group Inc. CAR announced Monday it has formed a partnership with Alphabet Inc GOOGL’s autonomous car business, Waymo: Link

THE WALL STREET JOURNAL

The European Union’s antitrust regulator on Tuesday fined Google a record €2.42 billion ($2.71 billion) for favoring its own comparison-shopping service in search results and ordered the search giant to apply the same methods to rivals as its own when displaying their services in search results: Link

Brazil’s top prosecutor filed criminal charges against President Michel Temer on Monday, marking a critical new phase for the corruption crackdown that has roiled Latin America’s largest country for the past three years: Link

REUTERS

Apple Inc. AAPL is working with Cisco Systems Inc CSCO to help businesses that primarily use gear from both companies to get a discount on cyber-security insurance premiums, Apple Chief Executive Officer Tim Cook said on Monday: Link

Tech giant IBM IBM is building a blockchain-based platform for seven big European banks, including HSBC and Deutsche Bank, that is aimed at simplifying trade finance transactions for small- and medium-sized companies: Link

BLOOMBERG

President Donald Trump’s travel ban has been partially revived by the Supreme Court, but his celebratory tweet about the decision belied his government’s confusion about how to turn the ruling into official policy: Link

Love for paper money is simply stronger than the ease of credit cards and apps: Link

NY POST

A former Snap Inc. SNAP executive who accused CEO Evan Spiegel of saying Snapchat is “only for rich people” while fibbing about the app’s user numbers doesn’t want to be muzzled: Link

ECONOMIC DATA

• Redbook: US Retail First 4 Wees June Up 0.6% vs May, Up 2.4% YoY; U.S. Retail Sales Up 2.2% Week Ended June 24th YoY
• The S&P Corelogic Case-Shiller home price index for April will be released at 9:00 a.m. ET.
• The Conference Board’s consumer confidence index for June is schedule for release at 10:00 a.m. ET.
• The Richmond Fed's manufacturing index for June will be released at 10:00 a.m. ET.
• The State Street Investor Confidence Index for June is schedule for release at 10:00 a.m. ET,
• Philadelphia Federal Reserve Bank President Patrick Harker will speak in London at 11:15 a.m. ET.
• The Treasury is set to auction 4-week bills at 11:30 a.m. ET.
• Federal Reserve Chair Janet Yellen is set to speak in London at 1:00 p.m. ET.
• The Treasury will auction 5-year notes at 1:00 p.m. ET.
• Minneapolis Federal Reserve Bank President Neel Kashkari will speak in Houghton, Michigan at 5:30 p.m. ET.

ANALYST RATINGS

• Stifel upgraded STMicroelectronics STM from Hold to Buy
• Gordon Haskett upgraded JC Penney JCP from Reduce to Hold
• Susquehanna downgraded Monsanto MON from Positive to Neutral
• KeyBanc downgraded Laboratory Corp LH from Overweight to Sector Weight
• Gordon Haskett downgraded Wayfair W from Buy to Accumulate

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