The Market In 5 Minutes: First Jobs Loss In 7 Years, But Unemployment Rate Ticks Lower
IN THE NEWS
Investors will soon be treated with the third largest technology related initial public offering, Bloomberg reported. Switch Inc. (SWHC), a data center company, will be selling 31.25 million shares of its own stock at a price of $14 to $16 per share. The high end of the offering would value the "unicorn" at around $4 billion: Link
Wall Street Journal
President Donald Trump is expected to refuse to certify that Tehran is complying with the 2015 international nuclear agreement, as part of a broader policy change on Iran to be set out as early as next week, people familiar with the deliberations said: Link
On the Monday morning after Amazon.com (NASDAQ: AMZN) failed to win a single prize at the Primetime Emmy Awards, one of its senior television executives gathered his dejected staff at their Los Angeles-area office for a pep talk: Link
An unexpected helping hand from creditors, landlords and vendors is allowing more U.S. retailers to stay in business following bankruptcy with most of their stores and employees in the fold: Link
Disagreement among U.S. congressional Republicans is already swirling around a tax cut plan unveiled days ago by President Trump, with disputes over proposals to repeal a deduction for state and local tax payments and repeal the tax on inheritances: Link
While the U.S. job market’s solid run in 2017 was probably curbed last month by forces most economists couldn’t predict, any weakness is likely to be short-lived: Link
Don’t expect the U.S. Treasury market to go back to “normal” once the Federal Reserve starts reducing its crisis-era debt investments: Link
- Nonfarm Payrolls for Sep -33.0K vs 90.0K Est, Private Payrolls for Sep -40.0K vs 83.0K Est; Unemployment Rate for Sep 4.20% vs 4.40% Est
- Atlanta Federal Reserve Bank President Raphael Bostic is set to speak in Austin at 9:15 a.m. ET.
- Data on wholesale trade inventories for August will be released at 10:00 a.m. ET.
- New York Federal Reserve Bank President William Dudley will speak in New York at 12:15 p.m. ET.
- Dallas Federal Reserve Bank President Robert Kaplan is set to speak in Austin at 12:45 p.m. ET.
- The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET.
- St. Louis Federal Reserve Bank President James Bullard will speak in St. Louis at 1:50 p.m. ET.
- Data on consumer credit for August will be released at 3:00 p.m. ET.
- Jefferies downgraded Orbital ATK (NYSE: OA) from Buy to Hold
- Goldman Sachs downgraded Albemarle (NYSE: ALB) from Buy to Neutral
- Morgan Stanley downgraded Walgreens Boots Alliance (NASDAQ: WBA) from Overweight to Equal-Weight
- Atlantic upgraded Anadarko (NYSE: APC) from Hold to Overweight
- Piper Jaffray upgraded Kraft Heinz (NASDAQ: KHC) from Neutral to Overweight
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