IN THE NEWS
Benzinga
President Donald Trump on Wednesday signed legislation passed overwhelmingly by Congress that slaps Russia with new sanctions
and restricts the scandal-plagued president’s ability to weaken them: Link
Forks have been in the news a lot recently due to controversy in the bitcoin community. There was the potential fork that
threatened to split bitcoin into two cryptocurrencies after a lengthy “civil war” between miners and developers. That came and went
with little issue: Link
Tesla Inc (NASDAQ: TSLA) delivered a big
second-quarter earnings beat after Wednesday's close, the last report before the highly-anticipated Model 3 will hit the market:
Link
The only thing riskier than Wall Street is betting big on Hollywood blockbusters: Link
Wall Street Journal
President Donald Trump on Wednesday embraced a Senate proposal to cut the number of green cards issued annually by half, as part
of his drive to reduce legal as well as illegal immigration into the U.S.:
Link
The U.S. case against two former JPMorgan Chase & Co. (NYSE: JPM) traders charged with concealing billions of dollars in losses fell apart because
a key witness known as the London Whale shifted blame to Chief Executive Officer James Dimon and other top executives, according to
a person familiar with the matter:
Link
Reuters
New U.S. sanctions will make it harder for Russia to build two gas export pipelines to Europe but the projects are unlikely to
be stopped:
Link
Amazon.com Inc (NASDAQ: AMZN) is quickly
ramping up the billions of dollars a year it spends on creating and licensing TV shows and films, signaling the retailer plans to
be in show business for the long haul:
Link
Bloomberg
The U.S. labor market -- marked this year by solid job gains, modest wage growth and falling unemployment -- probably delivered
more of the same in July:
Link
The Bank of England will probably downgrade its forecast for 2017 growth on Thursday as it also announces that interest rates
will stay at a record-low 0.25 percent for now:
Link
New York Post
The New York insurance company that wrote policies for 800,000 questionable Wells Fargo (NYSE: WFC) auto loans has been dragged into the bank’s latest scandal:
Link
ECONOMIC DATA
- USA Challenger Job Cuts (YoY) for Jul -9.00% vs -19.30% Prior
- USA Initial Jobless Claims for Jul 28 240.0K vs 242.00 Est; Prior 244.0K. Continuing Claims for Jul 21 1.97M vs 1.96K
Est
- The services PMI for July is schedule for release at 9:45 a.m. ET.
- Data on factory orders for June will be released at 10:00 a.m. ET.
- The ISM non-manufacturing index for July will be released at 10:00 a.m. ET.
- The Energy Information Administration’s weekly report on natural gas stocks is schedule for release at 10:30 a.m. ET.
- Data on money supply for the recent week will be released at 4:30 p.m. ET.
ANALYST RATINGS
- JP Morgan upgraded Qualys (NASDAQ: QLYS) from Neutral to Overweight
- Atlantic Equities upgraded Caterpillar (NYSE: CAT) from Sell to Neutral'
- KBW Upgrades Pacfic Mercantile (NASDAQ:
PMBC) from Market Perform to Outperform
- Morgan Stanley downgraded ADP (NASDAQ: ADP) from Equal-Weight to Underweight
- Jefferies downgraded Time Warner (NYSE: TWX) from Buy to Hold
- Benchmark downgraded AMC Entertainment (NYSE: AMC) from Buy to Hold
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