The Market In 5 Minutes

IN THE NEWS

Benzinga

All roads led to Jackson Hole, Wyoming, as central bankers, chief executives of banks, finance ministers, U.S. government representatives and academics all converged at this scenic location to air their views, both formally and informally, on various economic issues: Link

With the height of signature athletes’ influence in decline, the question becomes: Are high paid athletic endorsements really worth it anymore?: Link

Wall Street Journal

Uber Technologies Inc.’s board has voted to appoint Expedia EXPE Chief Executive Dara Khosrowshahi as its new CEO, capping a tumultuous nine-week search after Travis Kalanickresigned in late June, according to people familiar with the matter: Link

The synthetic CDO, a villain of the global financial crisis, is back: Link

Reuters

Oil markets were roiled on Monday after Hurricane Harvey wreaked havoc along the U.S. Gulf coast over the weekend, crippling Houston and its port, and knocking out numerous refineries as well as some crude production: Link

General Electric Co GE wants its industrial software business to cut costs and lift profits next year under new chief executive John Flannery, and is considering expanded partnerships and the possible sale of some equity in the unit, according to people familiar with the business: Link

Bloomberg

Many aspects of your daily life, the sorts of activities and purchases you take for granted, are regulated by a single federal agency: Link

President Donald Trump is planning to kick off one of the most important sales pitches of his presidency this week -- getting Americans fired up about rewriting the U.S. tax code: Link

ECONOMIC DATA

• USA Trade Balance for Jul -$65.10B vs -$64.50B consensus estimate. The prior reading was -$64.01B.
• USA Wholesale Inventories (MoM) for Prelim. 0.40% vs 0.20% consensus estimate.
• The Dallas Fed manufacturing report for August is schedule for release at 10:30 a.m. ET.
• The Treasury is set to auction 6-month bills and 2-year notes at 11:30 a.m. ET.
• The Treasury will auction 3-month bills and 5-year notes at 1:00 p.m. ET.

ANALYST RATINGS

• BMO upgraded Plains All American PAA from Market Perform to Outperform
• Mizuho upgraded SCANA SCG from Underperform to Neutral
• Susquehanna downgraded Genesco GCO from Positive to Neutral
• Benchmark downgraded Uni-pixel UNXL 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.