The Market In 5 Minutes

IN THE NEWS

BENZINGA

Startups have an unprecedented opportunity to place their products in front of investors and be mentored by leading fintech figures at the Benzinga Global Fintech Awards: Link
After a headline-filled tenure, Bill Ackman's investment in Valeant Pharmaceuticals Intl Inc VRX is over: Link

Getting into the business of medical marijuana: An interview with India Globalization Capital, Inc. IGC CEO Ram Mukunda: Link

THE WALL STREET JOURNAL

The Federal Reserve is almost certain to say Wednesday it is raising its benchmark short-term interest rate to a range between 0.75% and 1% and that it expects to lift it further in coming months: Link

President Donald Trump reported about $153 million in income in 2005 and paid $38 million in federal taxes, according to a leaked tax return that was published on Tuesday: Link

REUTERS

President Trump on Thursday will offer the first details of his plans for deep cuts in domestic programs and foreign aid, releasing a budget outline that would boost military spending by $54 billion and seek cuts of the same size in non-defense programs: Link

McDonald's Corp MCD has begun testing its long-awaited U.S. mobile ordering app, with the goal of avoiding the kinds of service hiccups that have haunted digital debuts by companies such as Starbucks Corp SBUX: Link

BLOOMBERG

The longer the seemingly unstoppable reflation rally continues, the more warning signs start to flash for Goldman Sachs Group Inc. — especially in stocks: Link

Since the end of 2008, when Domino’s Pizza, Inc. DPZ was threatened by declining sales and distressed franchisees, its share price has increased 60-fold. The company is now worth $9 billion: Link

NY POST

A mega-luxury deal that would merge Neiman Marcus with the company that owns Saks Fifth Avenue is in the works, sources told The Post. Link

ECONOMIC DATA

• US MBA mortgage applications 3.1% vs 3.3%
• Retail Sales (MoM) for Feb 0.10% vs 0.10% Est; Prior 0.40%. Retail Sales Ex Auto (MoM) for Feb 0.20% vs 0.20% Est; Prior 0.80%
• Core CPI (MoM) for Feb 0.20% vs 0.20% Est; Prior 0.30%
• NY Empire State Manufacturing Index for Mar 16.40 vs 15.00 Est; Prior 18.70
• Data on business inventories for January will be released at 10:00 a.m. ET.
• The housing market index for March is schedule for release at 10:00 a.m. ET.
• The Energy Information Administration’s weekly report on petroleum inventories is schedule for release at 10:30 a.m. ET.
• The Federal Open Market Committee will announce its policy decision at 2:00 p.m. ET..
• The Fed Chair Janet Yellen will hold a press conference at 2:30 p.m. ET.
• The Treasury International Capital data for January is schedule for release at 4:00 p.m. ET.

ANALYST RATINGS

• Jefferies upgraded Netflix NFLX from Underperform to Hold
• Bank of America upgraded Occidental Petroleum OXY from Neutral to Buy
• Longbow Research upgraded Harley-Davidson HOG from Underperform to Neutral
• Goldman Sachs downgraded Ventas VTR from Neutral to Sell
• Cowen & Co. downgraded WebMD Health WBMD from Outperform to Market Perform
• Bank of America downgraded Citrix Systems CTXS 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 or email minutes@benzinga.com.