WASHINGTON-Senate Democrats put the party's marquee economic package on ice, shifting their attention to passing elections legislation as they consider how to overhaul the roughly $2 trillion education, healthcare and climate bill.
Sen. Joe Manchin (D., W.Va.), whose support Democrats need to advance the bill in the 50-50 Senate, last month said he was opposed to the package, scuttling Democrats' hopes of quickly passing the centerpiece of President Biden's legislative agenda. Mr. Manchin is pushing for the party to restructure the bill, which would provide funding for initiatives including healthcare subsidies, child care subsidies and housing.
As China Tensions Smoulder, Japan and Australia Move to Sign Defense Treaty
Japan and Australia plan to sign a treaty on Thursday that will allow their militaries to work more closely together, in the latest example of U.S. allies strengthening ties to counter the rising threat from China.
The treaty signing is a centerpiece of a virtual summit between Japan's Prime Minister Fumio Kishida and his Australian counterpart, Scott Morrison.
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Earnings:
None scheduled
Economic Indicators (ET):
0830 Nov Building Permits
0830 Nov New Housing Price Index
Expected Major Events for Wednesday
05:00/JPN: Dec Auto sales
05:00/JPN: Dec Consumer Confidence Survey
07:45/FRA: Dec Consumer confidence survey
08:45/ITA: Dec Italy Services PMI
08:50/FRA: Dec France Services PMI
08:55/GER: Dec Germany Services PMI
09:30/UK: 2Q Postcode Lending statistics
10:00/ITA: Dec Provisional CPI
10:00/ITA: Dec Cities CPI
12:00/US: 12/24 MBA Weekly Mortgage Applications Survey
12:00/US: 12/31 MBA Weekly Mortgage Applications Survey
13:15/US: Dec ADP National Employment Report
13:30/CAN: Nov New Housing Price Index
13:30/CAN: Nov Building permits
14:45/US: Dec US Services PMI
15:30/US: 12/31 EIA Weekly Petroleum Status Report
All times in GMT. Powered by Kantar Media and Dow Jones.
Expected Earnings for Wednesday
CHS Inc (CHSCP) is expected to report for 1Q.
Costco Wholesale Corp (COST) is expected to report.
Ford Motor Company (F) is expected to report for 4Q.
Landec (LNDC) is expected to report $-0.08 for 2Q.
RPM International Inc (RPM) is expected to report $0.81 for 2Q.
Resources Connection (RGP) is expected to report $0.34 for 2Q.
Richardson Electronics (RELL) is expected to report for 2Q.
Saratoga Investment (SAR) is expected to report $0.54 for 3Q.
Simply Good Foods (SMPL) is expected to report $0.33 for 1Q.
UniFirst Corp (UNF) is expected to report $1.75 for 1Q.
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ANALYST RATINGS ACTIONS
Unity Biotechnology Raised to Buy From Neutral by Roth Capital
This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
01-05-22 0550ET