The Market In 5 Minutes

IN THE NEWS

Benzinga

We thought we'd highlight why Detroit would be a terrific place for Jeff Bezos and Amazon AMZN to set up shop for their second headquarter location: Link

Chalk up a victory for the RH RH bulls. One of the most heavily shorted stocks in the market, RH, reported better-than-expected second-quarter results Wednesday afternoon, sending shares soaring more than 30 percent in Thursday’s premarket session. The blowout quarter even got Wall Street’s attention: Link

Wall Street Journal

Credit-reporting company Equifax Inc. EFX said Thursday that hackers gained access to some of its systems, potentially compromising the personal information of roughly 143 million U.S. consumers in one of the biggest and most threatening data breaches of recent years: Link

President Donald Trump signaled he was open to making more deals with Democrats in Congress despite anger from fellow Republicans over a bipartisan agreement that passed the Senate Thursday yoking hurricane aid to an extension of the government’s ability to borrow: Link

Reuters

ZhongAn Online Property and Casualty Insurance Co Ltd, China’s first internet-only insurer, secured Hong Kong stock exchange approval for its planned initial public offering which could raise more than $1 billion, sources with direct knowledge of the deal said on Friday: Link

Oil prices steadied on Friday after almost a week of sharp rises as Hurricane Irma, one of the most powerful storms in a century, drove towards Florida after tearing through the Caribbean: Link

Bloomberg

From Alan Greenspan and the current Federal Reserve staff to fund managers hoarding cash, people feel queasy about asset prices: Link

When it comes to China’s biggest technology stocks, some investors are finding there can be too much of a good thing: Link

New York Post

Disney DIS shares fell nearly 5 percent after CEO Bob Iger predicted flat earnings for the company’s fiscal year, as its ESPN network continues to grapple with subscriber losses: Link

ECONOMIC DATA

• Philadelphia Federal Reserve Bank President Patrick Harker is set to speak in Philadelphia at 8:45 a.m. ET.
• Data on wholesale trade inventories for July will be released at 10:00 a.m. ET.
• The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET.
• Data on consumer credit for July will be released at 3:00 p.m. ET.

ANALYST RATINGS

• B. Riley upgraded Zumiez ZUMZ from Neutral to Buy
• Jefferies upgraded Intelsat S.A. I from Hold to Buy
• Credit Suisse upgraded Ralph Lauren RL from Neutral to Outperform
• Morgan Stanley downgraded Capital One COF from Overweight to Equal-Weight
• Credit Suisse downgraded Pepsico PEP from Outperform to Neutral
• Keybanc downgraded Catalent CTLT from Overweight to Sector 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.