Japan's exports rose for the 17th month in a row in July, driven by strong demand for autos and mineral fuels, Ministry of Finance data showed Wednesday.
Exports rose 19% in July from a year earlier, which was slightly stronger than the 18.2% increase expected by economists surveyed by FactSet. Exports rose 19.4% in June.
U.S. to Buy Ukraine Grain, as Ship Traffic Increases
The U.S. Agency for International Development is spending more than $68 million to purchase and ship Ukrainian grain in the largest such export deal since Russia's invasion this year and the start of a July agreement to allow for renewed shipments from Ukraine's Black Sea ports.
USAID is providing the funds to the World Food Program, a United Nations agency that historically gets the biggest part of its grain from Ukraine, to purchase, ship and store up to 150,000 metric tons of wheat, the agency said.
Mexico's Largest Shadow Bank Begins Restructuring as Funding Dries Up
Unifin Financiera SAB, Mexico's largest shadow bank, is gearing up to restructure the company and most of its debt after a string of recent accounting scandals at other unregulated lenders led investors to pull back from the country's once-burgeoning industry.
Since Unifin said last week that it plans to restructure, bondholders have tapped law firm Akin Gump Strauss Hauer & Feld LLP and investment bank Houlihan Lokey Inc. to represent them, according to people familiar with the matter. Unifin said its chairman and largest shareholder, Rodrigo Lebois, would head its restructuring committee and lead negotiations with the company's biggest creditors to stabilize its balance sheet and liquidity.
North Korea Resumes Weapons Activity With Two Cruise-Missile Launches
SEOUL-North Korea fired two cruise missiles on Wednesday morning, returning to weapons activity for the first time in two months after having recently declared victory over its Covid-19 outbreak.
The missiles were launched from South Pyongan province, South Korea's military said, without specifying the flight distance, altitude or the precise launch time. North Korea hadn't conducted a weapons test since June 5, when it fired eight short-range ballistic missiles.
Liz Cheney Concedes to Trump-Backed Challenger in Wyoming Primary
U.S. Rep. Liz Cheney conceded defeat Tuesday in the Republican primary in Wyoming, an outcome that was a priority for former President Donald Trump as he urged GOP voters to reject one of his most prominent critics on Capitol Hill.
Ms. Cheney was the last House Republican to face a primary among the 10 who voted to impeach Mr. Trump for his actions related to the Jan. 6 Capitol riot. She was defeated by Harriet Hageman, a water and natural resources attorney who was endorsed by the former president.
Sarah Palin Advances in Alaska House Race
Sarah Palin, the former governor and 2008 vice-presidential hopeful, advanced to the November general election in the race for Alaska's only House seat, the Associated Press projected.
The race will be a competition between the top four candidates, under a new ranked-choice voting system.
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Stocks to Watch:
Elys Game Technology 2Q Rev
Expected Major Events for Wednesday
06:00/UK: Jul UK producer prices
06:00/UK: Jul UK monthly inflation figures
06:45/FRA: 2Q New home sales
08:30/UK: Jun UK House Price Index
08:30/UK: May Card Spending statistics
11:00/US: 08/12 MBA Weekly Mortgage Applications Survey
12:30/US: Jul Advance Monthly Sales for Retail & Food Services
14:00/US: Jun Manufacturing & Trade: Inventories & Sales
14:30/US: 08/12 EIA Weekly Petroleum Status Report
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Expected Earnings for Wednesday
America's Car-Mart (CRMT) is expected to report $3.15 for 1Q.
Analog Devices (ADI) is expected to report $1.59 for 3Q.
Bath & Body Works Inc (BBWI) is expected to report for 2Q.
BeyondSpring Inc (BYSI) is expected to report $-0.24 for 1Q.
Birchcliff Energy Ltd (BIR.T,BIREF) is expected to report for 2Q.
Cisco Systems (CSCO) is expected to report $0.71 for 4Q.
Crown Crafts (CRWS) is expected to report for 1Q.
Exscientia PLC - ADR (EXAI) is expected to report for 2Q.
Genius Brands International Inc (GNUS) is expected to report for 2Q.
Hyzon Motors Inc (HYZN) is expected to report for 2Q.
John B Sanfilippo & Son (JBSS) is expected to report for 4Q.
Keysight Technologies Inc (KEYS) is expected to report $1.66 for 3Q.
Krispy Kreme Inc (DNUT) is expected to report for 2Q.
Lowe's Cos (LOW) is expected to report $4.66 for 2Q.
Nanophase Technologies Corp (NANX) is expected to report for 2Q.
Newcore Gold is expected to report for 2Q.
Nexteer Automotive Group Ltd (1316.HK) is expected to report for Interim.
Omnitek Engineering (OMTK) is expected to report for 2Q.
Performance Food Group (PFGC) is expected to report $0.83 for 4Q.
Progressive Corp (PGR) is expected to report.
Rent the Runway Inc (RENT) is expected to report for 2Q.
Sharps Compliance (SMED) is expected to report $0.00 for 4Q.
Singularity Future Technology Ltd (SGLY) is expected to report for 3Q.
Synopsys Inc (SNPS) is expected to report $1.31 for 3Q.
TJX Companies Inc (TJX) is expected to report $0.68 for 2Q.
Target Corp (TGT) is expected to report $0.92 for 2Q.
The Children's Place Inc (PLCE) is expected to report $0.80 for 2Q.
TransAct Technologies Inc (TACT) is expected to report $-0.31 for 2Q.
Trinity Place Holdings Inc (TPHS) is expected to report for 2Q.
Wolfspeed Inc (WOLF) is expected to report for 4Q.
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ANALYST RATINGS ACTIONS
Aerovate Therapeutics Cut to Neutral From Buy by BTIG
Agrify Cut to Neutral From Buy by Roth Capital
Albany International Cut to Neutral From Overweight by Alembic Global
Aptinyx Cut to Hold From Buy by Truist Securities
Aptinyx Cut to Market Perform From Outperform by Cowen & Co.
Aridis Pharmaceuticals Cut to Hold From Buy by Maxim Group
Avalara Cut to Equal-Weight From Overweight by Morgan Stanley
Bed Bath & Beyond Cut to Sell From Neutral by B. Riley Securities
CalAmp Raised to Buy From Hold by Craig-Hallum
ChromaDex Cut to Perform From Outperform by Oppenheimer
Clean Energy Fuels Cut to Market Perform From Outperform by Raymond James
CuriosityStream Cut to Market Perform From Outperform by Barrington Research
Diffusion Pharmaceuticals Raised to Buy From Neutral by HC Wainwright & Co.
Elanco Animal Health Cut to Neutral From Overweight by JP Morgan
Equifax Cut to Equal-Weight From Overweight by Morgan Stanley
EVO Payments Cut to Neutral From Buy by BTIG
Faraday Future Cut to Speculative Hold From Buy by Benchmark
Park Hotels & Resorts Cut to Market Perform From Outperform by BMO Capital
Public Storage Cut to Outperform From Strong Buy by Raymond James
Rackspace Technology Cut to Underweight From Neutral by JP Morgan
Rapid Micro Biosystems Cut to Neutral From Overweight by JP Morgan
RPT Realty Cut to Neutral From Buy by Mizuho
Seagen Raised to Outperform From Sector Perform by RBC Capital
Sema4 Holdings Cut to Hold From Buy by Jefferies
SITE Centers Raised to Buy From Neutral by Mizuho
Snowflake Cut to Neutral From Buy by UBS
TPI Composites Cut to Outperform From Strong Buy by Raymond James
TriNet Group Cut to Underweight From Neutral by JP Morgan
Zoom Video Communications Cut to Sell From Neutral by Citigroup
This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires