The Market In 5 Minutes: Budget Deal, MoviePass, Nvidia, And More
IN THE NEWS
After appearing to have begun recovery from the early week sell-off, the markets took another big dip Thursday. The S&P 500 closed down 3.8 percent, Dow Jones Industrial Average 4.2 percent and NASDAQ Composite 3.9 percent. The VIX closed up about 24 percent: Link
MoviePass on Friday will lower its monthly price from $9.95 to $7.95, in the company’s first bundled package that will include a subscription to streaming service Fandor: Link
The Senate approved a breakthrough two-year budget deal and stopgap spending bill early Friday, sending the package to the House too late to prevent a government shutdown that began at midnight: Link $
Barclays is likely to follow other major lenders in the United States in stopping customers from buying Bitcoin and other cryptocurrencies with its credit cards, according to an interview with a senior executive at its credit card unit: Link
China’s Ant Financial Services Group is planning to raise up to $5 billion in fresh equity that could value the online payments giant at more than $100 billion, people familiar with the move told Reuters: Link
A former Credit Suisse Group (NYSE: CS) wealth manager was found guilty of diverting millions of francs from client accounts to cover mounting trading losses in one of the biggest financial crime cases in Swiss history: Link
Not a moment too soon, America's biggest banks have moved to ban their customers from using credit cards to buy Bitcoin or other cryptocurrencies: Link
- Data on wholesale trade for December 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.
- Benchmark upgraded eGain (NASDAQ: EGAN) from Hold to Buy
- RBC upgraded Chevron (NYSE: CVX) from Underperform to Sector Perform
- Benchmark downgraded Expedia (NASDAQ: EXPE) from Buy to Hold
- DA Davidson downgraded CSS Industries (NYSE: CSS) 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.
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