The Market In 5 Minutes: Jobless Claims, Tesla Earnings, VXX Breakdown
IN THE NEWS
After the type of sell-off the market endured on Monday and early Tuesday, it can be challenging to put emotions aside and keep perspective: Link
Michael Schmanske doesn’t blame creative or contrived innovation for the financial markets’ extreme, multi-session volatility. He blames ignorance: Link
With Steve Wynn out as top executive of the casino empire he founded, pressure is now building on board members and other executives at Wynn Resorts Ltd. (NASDAQ: WYNN), as regulatory investigations into alleged sexual misconduct at the company continue: Link $
Tesla Inc (NASDAQ: TSLA) said on Wednesday it was sticking with Chief Executive Elon Musk’s revised production targets for its Model 3 sedan, cheering investors who have put up with two delays, but the electric automaker’s plans to raise spending this year underscored its growing need for cash: Link
Walmart Inc (NYSE: WMT) is asking vendors to supply it with more merchandise priced at $10 and up, as part of a major push to finally turn a profit at its online business, according to four people with knowledge of the matter: Link
The Senate is poised to quickly pass a bipartisan budget deal Thursday that would avert a government shutdown and suspend the federal debt ceiling, but the bill faces less certain prospects in the House, where the chamber’s top Democrat and GOP conservatives are raising objections: Link
Over the past year, Bitcoin’s meteoric rise—and recent plunge—has captivated the financial world. The political world? Not so much: Link
Digital currency can be used to pay for flights, furniture, music and even pizza. Now, pretty soon in Arizona, you may be able to use bitcoin to pay your taxes: Link
- Initial Jobless Claims for Feb 2 221.0K vs 236.0K Est; Prior 230.0K. Continuing Claims for Jan 26 1.92M vs 1.95M Est; Prior 1.95M
- Minneapolis Federal Reserve Bank President Neel Kashkari Evans is set to speak in Pierre, South Dakota at 9:00 a.m. ET.
- The Energy Information Administration’s weekly report on natural gas stocks in underground storage is schedule for release at 10:30 a.m. ET.
- Data on money supply for the latest week will be released at 4:30 p.m. ET.
- Canaccord upgraded AAR (NYSE: AIR) from Hold to Buy
- Berenberg upgraded Molson Coors (NYSE: TAP) from Sell to Hold
- Deutsche Bank downgraded Kapstone Paper & Packaging (NYSE: KS) from Hold to Buy
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.
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