The Market In 5 Minutes: Housing Starts A Bit Lower Than Expected, Chipotle Gets A Downgrade

IN THE NEWS

Benzinga

In a context of geopolitical instability, devastating natural disasters and record-high market valuations, finding investments that can protect investors from market sell-offs isn't easy. However, having a diversified portfolio is fundamental: Prioritizing stability and predictability over stock market-beating returns can be the difference between a safe retirement and a life of financial struggle: Link

Netflix, Inc. NFLX shares were surprisingly flat on Tuesday after the company reported its third-quarter earnings. The market can’t seem to decide what to make of Netflix’s numbers. Here’s what six Wall Street analysts had to say: Link

Shares of nano-cap Internet advertising tech company Social Reality Inc SRAX spiked more than 70 percent heading into Tuesday's closing bell, after the announcement of its own Initial Coin Offering: BIGtoken: Link

Wall Street Journal

With enrollment for 2018 Affordable Care Act health-insurance plans starting in just two weeks, insurers are bracing for a drop-off among consumers put off by higher rates, confusion about the law’s standing and a shorter window to choose coverage: Link

The war for tech supremacy is moving to newer technologies such as augmented reality and voice assistants, as giant internet companies grasp for an ever-fleeting portion of people’s time: Link

Reuters

Chinese President Xi Jinping opened a critical Communist Party Congress on Wednesday with a pledge to build a “modern socialist country” for a “new era” that will be proudly Chinese and steadfastly ruled by the party but open to the world: Link

Senate Republicans scrambled on Tuesday to ensure support for a budget resolution vital to President Donald Trump’s drive to overhaul the U.S. tax code, as one Republican fiscal hawk announced he might vote against the measure: Link

Bloomberg

Traders, prepare to adapt: Link

Congressional Republicans have found a way to use the federal budget to open the Arctic National Wildlife Refuge to oil drilling -- and they don’t plan on stopping there: Link

ECONOMIC DATA

• US MBA mortgage applications w-e 13 Oct 3.6% vs -2.1% prev
• USA Housing Starts (MoM) for Sep -4.70% vs -0.50% Est; Building Permits for Sep 1.22M vs 1.25M Est
• The Atlanta Fed's Business Inflation Expectations survey for October will be released at 10:00 a.m. ET.
• The Energy Information Administration’s weekly report on petroleum inventories in the U.S. is schedule for release at 10:30 a.m. ET.
• The Federal Reserve will release its latest Beige Book report at 2:00 p.m. ET.

ANALYST RATINGS

• Longbow upgraded GoPro GPRO from Neutral to Buy
• Jefferies upgraded Lattice Semiconductor LSCC from Hold to Buy
• Oppenheimer upgrades W.W. Grainger GWW from Perform to Outperform
• Stifel downgraded MGM Resorts MGM from Buy to Hold
• Bank of America downgraded Chipotle CMG from Neutral to Underperform

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.