Lawmakers Spar Over Infrastructure Package as Deadline Nears
WASHINGTON-Lawmakers sparred Monday over Senate Democrats' decision to impose a midweek deadline on a bipartisan group still scrambling to reach an agreement on a roughly $1 trillion infrastructure bill.
Senate Majority Leader Chuck Schumer (D., N.Y.) took the first step Monday to set up a vote Wednesday opening debate on the infrastructure bill. But the bipartisan group of 22 senators hasn't yet struck a deal on how to fully pay for the cost of the legislation, which would spend roughly $600 billion above projected federal spending on improvements to roads, bridges and broadband access, among others.
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U.S. Coronavirus Recession Lasted Two Months, Ended in April 2020, Official Arbiter Says
The U.S. officially climbed out of a recession in April 2020, concluding a pandemic-driven economic contraction that lasted two months, making it the shortest on record.
The announcement Monday from the National Bureau of Economic Research also marks April as the official start of the economic recovery from the initial shock of the coronavirus pandemic last spring, which triggered widespread business and school closures, a steep drop in demand for services and record job losses.
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Supply-Chain Executives See Long Road Ahead for Diversity Efforts
Logistics companies and other supply-chain operators are stepping up diversity, equity and inclusion efforts in a sector where leadership ranks still skew largely white and male and minorities are concentrated in lower-level roles.
The moves come after the May 2020 murder of George Floyd by a police officer sparked widespread racial-justice protests and the Covid-19 pandemic took a toll on the country, hitting minorities and essential workers particularly hard. Both events highlighted stark divisions in U.S. society.
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Vietnam Tells U.S. It Won't Weaken Currency to Boost Exports
WASHINGTON-Vietnam has pledged to refrain from weakening its currency to give its exporters an unfair advantage as it seeks to ease tensions over a widening trade surplus with the U.S.
The Trump administration last year labeled Vietnam a currency manipulator and threatened to impose sweeping tariffs on imports from Vietnam. The Biden administration reversed the "manipulator" designation in April, saying it found insufficient evidence that the country was manipulating its currency, but hasn't yet completed the process that could lead to the imposition of tariffs.
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Canada to Reopen Border for Fully Vaccinated U.S. Tourists in August
OTTAWA-Canada said it would allow fully vaccinated Americans to enter the country for recreational or tourist activities beginning Aug. 9, more than a year after authorities first closed the 5,500-mile border to most travelers to limit the spread of Covid-19.
The government said Monday that border restrictions for fully vaccinated travelers from other countries could also be lifted beginning Sept. 7, assuming Canada's Covid-19 caseload stays relatively low.
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Delta Variant Helps Push Covid-19 Cases Higher in Every State
Covid-19 cases and hospitalizations across the U.S. are growing steadily higher as the infectious Delta variant takes hold and the pace of vaccination subsides from highs reached in April.
The country has reported an average of 32,287 new coronavirus cases each day over the past week, according to a Wall Street Journal analysis of Johns Hopkins data, more than double what the seven-day average was 10 days ago. The uptick in cases has touched every state and Washington, D.C., with the seven-day average of newly reported cases exceeding the 14-day average in each place for the past four days, according to the data.
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Singapore Further Tightens Covid-19 Restrictions as Cases Rise
Singapore is further tightening Covid-19 curbs as rising cases continue to pose challenges to the country's ability to speed up its reopening plans.
The latest measures include restricting social gatherings and interactions to two persons only, compared with the earlier cap at five. Dining-in will cease and only takeaway and delivery will be allowed, Singapore's Ministry of Health said Tuesday.
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Pentagon to House Afghan Interpreters at Military Bases in U.S., Qatar
The Pentagon will use military bases in the U.S. and Qatar to house thousands of Afghan interpreters and translators, along with their families, part of a scramble to evacuate those who worked with the U.S. during the war and face retribution from the Taliban, according to officials.
Initially, about 2,500 Afghans-700 interpreters and family members-will be flown from Afghanistan to Fort Lee, Va., for short-term housing while awaiting final processing for Special Immigrant Visas allowing them to remain in the U.S., according to Ned Price, spokesman for the State Department.
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Write to sarka.halas@wsj.com
TODAY IN CANADA
Earnings:
Canadian Natl Railway (CNR.T) 2Q
Economic Indicators (ET):
Nothing major scheduled
Stocks to Watch:
*Air Canada: New Schedule Coincides With Loosening of Restrictions on Travel Between the Two Countries as of Aug. 9
*Air Canada: Summer Transborder Schedule Includes 55 Routes and 34 Destinations in the U.S.
*Air Canada Ready to Reconnect Canada and U.S. Travel With Up to 220 Daily Flights Between the Two Countries
Other News:
No items published
Market Talk:
No items published
Expected Major Events for Tuesday
05:00/JPN: Jun Convenience Store Sales
06:00/GER: Jun PPI
09:00/ITA: May Balance of Payments
11:45/US: Weekly Chain Store Sales Index
12:30/US: Jun New Residential Construction - Housing Starts and Building Permits
12:55/US: 07/17 Johnson Redbook Retail Sales Index
17:59/UK: Jun Aluminium Production report
20:30/US: 07/16 API Weekly Statistical Bulletin
23:01/UK: Jun Scottish Retail Sales Monitor
23:50/JPN: Jun Provisional Trade Statistics for the Month
All times in GMT. Powered by Kantar Media and Dow Jones.
Expected Earnings for Tuesday
Ally Financial Inc (ALLY) is expected to report $1.51 for 2Q.
AmeriServ Financial Inc (ASRV) is expected to report for 2Q.
Arrow Financial (AROW) is expected to report $0.82 for 2Q.
Badger Meter Inc (BMI) is expected to report $0.46 for 2Q.
CIT Group (CIT) is expected to report $0.86 for 2Q.
Cambridge Bancorp (CATC) is expected to report $1.80 for 2Q.
Canadian National Railway Co (CNI,CNR.T) is expected to report $1.51 for 2Q.
Capital City Bank Group (CCBG) is expected to report $0.55 for 2Q.
Century Bancorp (CNBKA,CNBKB) is expected to report for 2Q.
Citizens Financial Group (CFG) is expected to report $1.11 for 2Q.
Commerce Bancshares Inc (CBSH) is expected to report $1.02 for 2Q.
Corsair Gaming Inc (CRSR) is expected to report for 2Q.
Dover Corp (DOV) is expected to report $1.64 for 2Q.
FTI Consulting (FCN) is expected to report $1.41 for 4Q.
First Choice Bancorp (FCBP) is expected to report $0.55 for 2Q.
First Midwest Bancorp (FMBI) is expected to report $0.38 for 2Q.
Gatx Corp (GATX) is expected to report $1.00 for 2Q.
Guided Therapeutics Inc (GTHP) is expected to report for 1Q.
HCA Healthcare Inc (HCA) is expected to report $3.10 for 2Q.
Halliburton Co (HAL) is expected to report $0.22 for 2Q.
Interactive Brokers Group Inc (IBKR) is expected to report $0.83 for 2Q.
Iridium Communications Inc (IRDM) is expected to report $-0.06 for 2Q.
KeyCorp (KEY) is expected to report $0.54 for 2Q.
ManpowerGroup (MAN) is expected to report $1.43 for 2Q.
Mercantile Bank (MBWM) is expected to report $0.78 for 2Q.
Mueller Industries (MLI) is expected to report for 2Q.
Neogen Corp (NEOG) is expected to report $0.14 for 4Q.
Netflix Inc (NFLX) is expected to report $3.18 for 2Q.
Old National Bancorp (ONB) is expected to report $0.40 for 2Q.
Omnicom Group (OMC) is expected to report $1.28 for 2Q.
PACCAR Inc (PCAR) is expected to report $1.37 for 2Q.
Peoples Bancorp (Ohio) (PEBO) is expected to report $0.62 for 2Q.
Philip Morris International (PM) is expected to report $1.49 for 2Q.
Signature Bank (SBNY) is expected to report $3.14 for 2Q.
Silvergate Capital Corp (SI) is expected to report for 2Q.
Sleep Number Corp (SNBR) is expected to report $1.07 for 2Q.
Synchrony Financial (SYF) is expected to report $1.41 for 2Q.
Synovus Financial (SNV) is expected to report $1.03 for 2Q.
TX Holdings Inc (TXHG) is expected to report for 2Q.
The Travelers Companies (TRV) is expected to report $2.28 for 2Q.
Powered by Kantar Media and Dow Jones.
ANALYST RATINGS ACTIONS
Apria Cut to Neutral From Buy by Goldman Sachs
Callon Petroleum Raised to Buy From Neutral by MKM Partners
Five9 Cut to Hold From Buy by Needham
FNB Corp Cut to Hold From Buy by Jefferies
Katapult Holdings Raised to Buy From Hold by Loop Capital
KB Home Raised to Buy From Neutral by Seaport Global
Kemper Corp Cut to Outperform From Strong Buy by Raymond James
NOV Raised to Market Perform From Underperform by BMO Capital
Option Care Health Raised to Buy From Neutral by Goldman Sachs
Ovintiv Raised to Outperform From Neutral by Credit Suisse
Qualcomm Raised to Neutral From Sell by Goldman Sachs
Range Resources Raised to Neutral From Underperform by Credit Suisse
Ranger Energy Services Raised to Overweight From Equal-Weight by Barclays
Redwood Trust Raised to Overweight From Neutral by Piper Sandler
Rexford Industrial Realty Raised to Overweight From Equal-Weight by Capital One
Sunoco Cut to Neutral From Buy by UBS
Teleflex Cut to Market Perform From Outperform by SVB Leerink
UFP Industries Raised to Buy From Neutral by Sidoti & Co.
This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
07-20-21 0604ET
