The Market In 5 Minutes: Walgreens To Replace GE In The Dow Jones Industrial Average

IN THE NEWS

Mark Cuban, others agree with Dimon, Buffett's criticism of quarterly guidance: Link

Height Capital Markets analyst Clayton Allen took a closer look at Trump’s approach to the trade war and what the pros and cons could be for U.S. investors: Link

SoftBank Group Corp Chief Executive Masayoshi Son said on Wednesday he plans to devote the bulk of his time to hunt for technology investments around the world, as part of a major shift in focus at the Japanese tech and telecoms conglomerate: Link

By pumping $1 billion into ride-hailing firm Grab, Toyota Motor Corp TM stands to gain a passenger-side view of tens of thousands of cars across Southeast Asia, tracking how fast they drive, how far they travel and the time they spend stuck in traffic: Link

The U.S. economy is booming this quarter as tax cuts power consumers and businesses. Yet risks are mounting that the high will be short-lived: Link $

General Electric Co. GE will drop out of the Dow Jones Industrial Average next week, a milestone in the decline of a firm that once ranked among the mightiest of blue-chips and was a pillar of the U.S. economy. Walgreens Boots Alliance WBA will replace GE: Link $

Saudi Arabia and Russia have promised they will lead OPEC and other big oil producers in a deal this week to boost output and lower prices. What if it isn’t enough?: Link $

ECONOMIC DATA

• Federal Reserve Chair Jerome Powell is set to speak at the 2018 ECB Forum on Central Banking in Sintra Portugal at 9:30 a.m. ET.
• Data on existing home sales for May 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.

ANALYST RATINGS

• Deutsche Bank upgrades Citigroup C from Hold to Buy
• Barclays upgrades PTC Therapeutics PTCT from Underweight to Equal-Weight
• Cowen downgrades Sally Beauty SBH from Outperform to Market Perform
• Barclays downgrades Ionis Pharmaceutical IONS from Equal-Weight to Underweight

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.