The Market In 5 Minutes: SOTU, ADP Employment Change, Apple Downgrade, And More

IN THE NEWS

Cryptocurrencies like bitcoin have been all the rage in recent months, and the fintech market has stepped up its game to provide investors with exciting and creative new ways to play the latest investing trend: Link

The New York Police Department announced Tuesday the “next phase of the body-worn camera deployment” — a phase that doesn’t directly involve Axon Enterprise Inc AAXN or Digital Ally, Inc. DGLY, but nonetheless triggered moves higher in their stocks: Link

President Donald Trump, in his first State of the Union address, called for major, bipartisan deals on infrastructure and immigration, while reversing his predecessor’s vow to close the Guantanamo Bay prison facility for suspected terrorists: Link $

The American icon Xerox XRX is getting a new Japanese owner: Link $

The Federal Reserve is expected to leave interest rates unchanged on Wednesday while signaling a gradual tightening of monetary policy later this year as the U.S. economy continues to expand and job gains remain solid: Link

South Korea’s finance minister said the government has no plans to shut down cryptocurrency trading, welcome news for investors worried that authorities might go as far as China’s tough action in blocking virtual coin platforms: Link

ECONOMIC DATA

• USA MBA Mortgage Applications (WoW) for Jan 26 -2.60% vs 4.50% prior reading.
• USA ADP Employment Change for Jan 234.0K vs 186.0K consensus estimate; The prior reading was 250.0K
• US Q4 employment cost index 0.6% vs 0.6% exp
• The Chicago PMI for January will be released at 9:45 a.m. ET.
• The pending home sales index for December is schedule for release at 10:00 a.m. ET.
• The Energy Information Administration’s weekly report on petroleum inventories in the U.S. will be released at 10:30 a.m. ET.
• The Federal Open Market Committee will announce its policy decision at 2:00 p.m. ET.

ANALYST RATINGS

• Stifel upgraded Fitbit FIT from Sell to Hold
• Oppenheimer upgraded Foot Locker FL from Perform to Outperform
• BMO downgraded Apple AAPL from Outperform to Market Perform
• Citi downgraded Aetna AET from Buy to Neutral

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.