The muted activity in China's manufacturing sector suggests a soft start to the year, and highlights the limits of Chinese leaders' attempt to double down on manufacturing to drive the economy as other traditional growth engines, particularly real estate, remain in the doldrums.
Prospect of Trump 2.0 Has Europe Scrambling on Military Spending
BRUSSELS-The prospect of Donald Trump returning as president is prompting some of America's staunchest allies in Europe to push their neighbors that are more reluctant to spend into further action on defense and security.
Results are slowly emerging, but the question dogging Europe is whether the continent can convince Trump it isn't free-riding, as he has said it is. Campaigning in Las Vegas on Saturday, Trump criticized Europeans for insufficient military spending.
Republicans Move to Impeach Homeland Security Chief Mayorkas Over Border
WASHINGTON-House Republicans moved ahead with the impeachment of Homeland Security Secretary Alejandro Mayorkas while also throwing cold water on an emerging bipartisan Senate deal aimed at curbing illegal border crossings.
The GOP-led House Homeland Security Committee voted along party lines to approve articles of impeachment against Mayorkas, alleging he has failed to properly enforce the nation's immigration laws. Mayorkas is being accused of demonstrating a "willful and systemic refusal to comply with the law" and "breaching the public trust"-two charges that bipartisan critics of the effort say don't amount to impeachable crimes.
Write to paul.larkins@dowjones.com TODAY IN CANADA
Earnings:
CGI 1Q
Champion Iron 3Q
Methanex 4Q
Economic Calendar (ET):
0830 Nov GDP
Stocks to Watch:
Mithaq Capital SPC Buys 33,000 Aimia Common Shares at Average of C$3.30 Each for Total of C$108,930; Now Owns or Controls or Has Direction Over Approx 27.62% of Aimia's Issure and Outstanding Shares
Expected Major Events for Wednesday
01:00/JPN: Dec Steel Imports & Exports Statistics
04:30/JPN: Dec Preliminary Report on Petroleum Statistics
05:00/JPN: Jan Consumer Confidence Survey
05:00/JPN: Dec Housing Starts
05:00/JPN: Dec Construction Orders
07:00/GER: Dec Foreign trade price indices
07:00/GER: Dec Retail Trade
07:00/UK: Jan Nationwide House Price Index
07:45/FRA: Dec PPI
07:45/FRA: Jan Provisional CPI
08:55/GER: Jan Labour market statistics (incl unemployment)
09:00/ITA: Dec Unemployment
09:00/GER: Jan Bavaria CPI
09:00/GER: Jan North Rhine Westphalia CPI
09:00/GER: Jan Brandenburg CPI
09:00/GER: Jan Hesse CPI
09:00/GER: Jan Baden-Wuerttemberg CPI
10:00/GER: Jan Saxony CPI
11:00/ITA: Nov Industrial turnover
12:00/US: 01/26 MBA Weekly Mortgage Applications Survey
13:00/GER: Jan Provisional CPI
13:15/US: Jan ADP National Employment Report
13:30/US: 4Q Employment Cost Index
13:30/CAN: Nov GDP
14:45/US: Jan Chicago Business Barometer - ISM-Chicago Business Survey - Chicago PMI
15:30/US: 01/26 EIA Weekly Petroleum Status Report
19:00/US: U.S. interest rate decision
20:00/US: Dec Agricultural Prices
All times in GMT. Powered by Kantar Media and Dow Jones.
Expected Earnings for Wednesday
Aptiv PLC (APTV) is expected to report $1.05 for 4Q.
Automatic Data Processing Inc (ADP) is expected to report $2.14 for 2Q.
Avery Dennison Corp (AVY) is expected to report $2.13 for 4Q.
Avnet Inc (AVT) is expected to report $1.23 for 2Q.
Boeing Company (BA) is expected to report $-0.24 for 4Q.
Boston Scientific (BSX) is expected to report $0.29 for 4Q.
Brinker International (EAT) is expected to report $0.97 for 2Q.
CGI Inc - Class A (GIB,GIB.A.T) is expected to report $1.72 for 1Q.
CNB Financial Corp (Pennsylvania) (CCNE) is expected to report $0.51 for 4Q.
Calavo Growers (CVGW) is expected to report $0.16 for 4Q.
Carter Bankshares Inc (CARE) is expected to report for 4Q.
Cencora Inc (COR) is expected to report $2.39 for 1Q.
Central Pacific Financial Corp (CPF) is expected to report $0.48 for 4Q.
Columbus McKinnon Corp (CMCO) is expected to report $0.48 for 3Q.
Dynatrace Inc (DT) is expected to report for 3Q.
ESSA Bancorp Inc (ESSA) is expected to report $0.40 for 1Q.
Evercore Inc (EVR) is expected to report $1.73 for 4Q.
Extreme Networks (EXTR) is expected to report $0.24 for 2Q.
Fidelity D&D Bancorp Inc (FDBC) is expected to report for 4Q.
Fortive Corp (FTV) is expected to report $0.70 for 4Q.
Group 1 Automotive Inc (GPI) is expected to report $10.46 for 4Q.
Hess Corp (HES) is expected to report $1.54 for 4Q.
Hess Midstream LP (HESM) is expected to report for 4Q.
Lennox International Inc (LII) is expected to report $3.50 for 4Q.
M/I Homes (MHO) is expected to report $4.94 for 4Q.
MarketAxess Holdings Inc (MKTX) is expected to report $1.73 for 4Q.
Mastercard Inc (MA) is expected to report $3.08 for 4Q.
Nasdaq Inc (NDAQ) is expected to report $0.65 for 4Q.
New York Community Bancorp Inc (NYCB) is expected to report $0.26 for 4Q.
Old Dominion Freight Line Inc (ODFL) is expected to report $2.85 for 4Q.
Otis Worldwide Corp (OTIS) is expected to report for 4Q.
Phillips 66 (PSX) is expected to report $2.41 for 4Q.
Regis Corp (RGS) is expected to report for 2Q.
Rockwell Automation Inc (ROK) is expected to report $2.54 for 1Q.
Roper Technologies Inc (ROP) is expected to report $3.15 for 4Q.
SeaChange International Inc (SEAC) is expected to report for 3Q.
Silgan Holdings Inc (SLGN) is expected to report $0.51 for 4Q.
Silicon Laboratories Inc (SLAB) is expected to report $-2.00 for 4Q.
Thermo Fisher Scientific (TMO) is expected to report $4.26 for 4Q.
United Bancorp Inc (UBCP) is expected to report for 4Q.
Powered by Kantar Media and Dow Jones.
ANALYST RATINGS ACTIONS
Advanced Micro Devices Cut to Outperform From Strong Buy by Raymond James
Bank of America Raised to Overweight From Equal-Weight by Morgan Stanley
Bank of New York Mellon Raised to Equal-Weight From Underweight by Morgan Stanley
Block Raised to Buy From Neutral by BTIG
Block Raised to Outperform From Neutral by Wedbush
Citigroup Raised to Overweight From Underweight by Morgan Stanley
Enfusion Cut to Underweight From Neutral by JP Morgan
Five Below Cut to Perform From Outperform by Oppenheimer
Flagship Communities REIT Raised to Strong Buy From Outperform by Raymond James
Goldman Sachs Raised to Overweight From Equal-Weight by Morgan Stanley
Hexcel Cut to Neutral From Buy by UBS
IDEXX Labs Cut to Neutral From Overweight by Piper Sandler
Masimo Cut to Hold From Buy by Jefferies
Netflix Cut to Neutral From Buy by Seaport Global
Northern Trust Cut to Underweight From Equal-Weight by Morgan Stanley
Pacific Premier Bancorp Cut to Outperform From Strong Buy by Raymond James
Science 37 Holdings Cut to Neutral From Outperform by Baird
Western Alliance Bancorp Cut to Equal-Weight From Overweight by Wells Fargo
This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
01-31-24 0619ET
