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The Market In 5 Minutes: Mamba Out

Below 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. Apply for daily AM access by clicking here or email minutes@benzinga.com.

Macro Focus

Global oil markets will "move close to balance" in the second half of the year as lower prices take their toll on production outside OPEC, the International Energy Agency said. The world surplus will diminish to 200,000 barrels a day in the last six months of the year from 1.5 million in the first half.

Meanwhile, as oil rebounds, there's an MLP ETF blazing a comeback trail.

USA CPI (MoM) for March came in at 0.10 percent vs. 0.20 percent estimates. USA CPI (YoY) for March was 0.90 percent vs. 1.10 percent estimates.

USA Initial Jobless Claims for April 8 came in at 253,000 vs. 270,000 estimates. USA Continuing Claims for April 1 were 2.17 million vs. 2.18 million estimates.

BZ News Desk Focus

The earnings season is really kicking off now. JPMorgan's boost to the sector yesterday did little good this morning, as Bank Of America and Wells Fargo were both trading down about 1 percent following their earnings misses.

Ready for Tax Day? Don't forget about paying your trading taxes. And here are three ways you can play the tax season.

Sell-Side Themes

Goldman Sachs weighed in on the tobacco sector, favoring Philip Morris over Reynolds and Altria.

Sell-Side's Most Noteworthy Calls

JPMorgan upgraded Chipotle from Neutral to Overweight and raises the price target from $465 to $510.

CLSA defends its Wednesday comments on Facebook ad spending indications from AdParlor call: "I do not believe that everything said on that call was erroneous or out of context."

Stifel cut Pepsi from Buy to Hold.

Bank of America's big 3D Systems call: Double upgrade to Buy after CEO unveil.

Brean Capital initiated coverage on Intuit with a Buy rating and $125 price target.

Buy-Side

The number of Schedule 13D filings issued by these top 20 activists (in companies with market caps above $100 million) has been increasing steadily since 2012.

Deal Talk

McDonald's is targeting private equity firms, including Bain Capital, MBK Partners, TPG Capital Management and Chinese state-backed conglomerate China Resources for its planned sale of 2,800 restaurants in North Asia, people familiar with the matter told Reuters.

Yahoo update: According to the New York Post, Verizon is considered the front-runner over SoftBank and appears to have backing from key investors who have been battered by months of management zigzagging and like the idea of a simple cash deal.

What's Up In The News?

U.S. health officials concluded that infection with the Zika virus during pregnancy causes the birth defect microcephaly, a finding that experts hope will refocus attention on efforts to stop infections and prompt U.S. lawmakers to fund emergency prevention efforts.

Russian President Vladimir Putin said media reports about offshore accounts in Panama were a "provocation" and the German newspaper behind the leaks was beholden to Goldman Sachs. Speaking at his annual televised phone-in, Putin said U.S. officials were behind the leaks and media reports were designed to sow doubts about individuals.

The Golden State Warriors earned their place in the NBA record books at Oracle Arena on Wednesday, downing the Memphis Grizzlies 125-104 to finish with an unprecedented 73-9 record. Stephen Curry met the moment with a 46-point, 10-three-pointer night.

Blogosphere

Some oil commentary: "We can have it both ways because it’s 2016 and nothing matters. You can literally say whatever you want."

Someone needs a little advice: "I've never even heard of a tax problem this screwed up. Almost 20 years of not filing."

Trending

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Kobe Bryant wrapped up his 20-year NBA career with a pretty historic performance. The 5-time NBA champion finished 22 of 50 on his shot for 60 points, the oldest to ever score that many points. #MambaOut

Quote Of The Day

"I'm up at 4am everyday to work extremely hard BEFORE I go into work, not because I'm bat shit crazy (well maybe a little;), but because I know my competitors are not paying that price and sacrificing to that degree - and that will alway give me the edge and anchor for an opportunity for success."

Read more: http://www.benzinga.com/news/16/04/7839692/the-market-in-5-minutes-mamba-out#ixzz45oVcvzIY