North American Morning Briefing: Stock Futures -2-
LOS ANGELES — President Biden on Thursday sought to push back against waning U.S. influence in Latin America by outlining a vision of shared goals on contentious issues like climate and migration at a divisive and conflict-ridden regional summit. a partial boycott.
In an address to CEOs at the Summit of the Americas, Biden said the region offers partnerships on economic growth, making supply chains more resilient, tackling climate change and battling the remnants of Covid-19 and preparing for future pandemics. He described the Western Hemisphere as a region ripe for the growth of democracy and opportunity.
January 6 committee lays out case against Donald Trump in first public hearing
WASHINGTON-The House Select Committee investigating the Jan. 6, 2021, attack on the Capitol held a prime-time session Thursday night aimed at convincing a divided nation that former President Donald Trump’s claims about an election volley prompted his supporters to try to disrupt the peaceful transfer of power.
The hearing, which aired on cable television and most major broadcasters, was the first in a series scheduled over the next two weeks. He presented the committee’s view of the attack on the Capitol as a defining historic moment for American democracy and a red alarm for the threats it may face in the future.
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Economic indicators (ET):
0830 May Labor Force Survey
0830 1Q Industrial capacity utilization rate
Actions to watch:
Karora Resources to Refinance Credit Facility with CA$80 Million Lower Cost Credit Agreement
TransAlta: Alberta Court of Appeal Upholds Force Majeure Allegation Arose When Production Unit Keephills 1 Goes Offline in 2013; The force majeure claim remains valid; Costs associated with a Force Majeure Event will not be reassessed against TransAlta
Major events expected for Friday
00:01/UK: May report from KPMG and REC UK on jobs
08:00/ITA: April industrial production
08:30 am / United Kingdom: Bank of England / Ipsos survey on attitudes towards inflation in May
12:30 p.m./CAN: May Labor Force Survey
12:30 p.m./US: Real May Gains
12:30 p.m./US: May CPI
12:30 p.m./CAN: 1T Industrial capacity utilization rate
2:00 p.m./US: Q1 Quarterly Services
2:00 p.m./US: University of Michigan Consumer Survey June – Preliminary
4:00 p.m./US: World Agricultural Supply and Demand Estimates (WASDE)
16:59/GER: April balance of payments
6:00 p.m. / United States: Monthly statement of US government revenue and expenditure in May
All times in GMT. Powered by Kantar Media and Dow Jones.
Earnings expected for Friday
Crossroads Impact Corp (CRSS) is expected to report for Q2.
Nathan’s Famous Inc (NATH) is expected to report for Q4.
Seneca Foods (SENEA, SENEB) is expected to report for Q4.
Silver Bull Resources Inc (SVB.T) is expected to report for Q2.
Statera Biopharma Inc (STAB) is expected to report for the first quarter.
Virco Manufacturing Corp (VIRC) is expected to report for the first quarter.
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ANALYST RATINGS ACTIONS
AGNC investment rose to outperform market performance by Keefe, Bruyette & Woods
Annaly Capital raised to outperform market performance by Keefe, Bruyette & Woods
Ball Cut to Underweight From Equal-Weight by Wells Fargo
Crown Holdings reduced to equal weight versus overweight by Wells Fargo
Keefe, Bruyette & Woods raised capital from Dynex to outperform market performance
Five below cut to accumulate from purchase by Gordon Haskett
Freeport-McMoRan lifted from underperforming to neutral by Credit Suisse
Hanesbrands reduced to equal weight vs. overweight by Barclays
Honest cut to remember from Buy by Loop Capital
IAA raised to buy from Neutral by Guggenheim
iRhythm Technologies goes into neutral after being bought by Citigroup
Kontoor brands reduced at equal weight versus overweight by Barclays
Magellan Midstream raised to buy from Neutral by Goldman Sachs
Ollie’s Bargain Outlet was elevated to buy pending by Craig-Hallum
Ollie’s Bargain outlet rose to outpace sector performance by RBC Capital
Market-cut precision biosciences perform from outperformance by William Blair
Rigel Pharmaceuticals cut to neutral after being bought by Citigroup
Scotts Miracle-Gro reduced to neutral due to overweight by JP Morgan
Shoals Technologies lifted to buy pending by Truist Securities
Sotera Health Cut to Peer Perform from Outperform by Wolfe Research
Southwest Gas raised to buy on hold by Argus Research
Tesla raised to buy from Neutral by UBS
High WEX to buy from Neutral by Citigroup
This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswire