Pressure is mounting on Republican lawmakers to resolve their internal fighting nearly two weeks after Kevin McCarthy (R., Calif.) was ousted in a historic vote. The White House is poised to ask Congress for an emergency national security aid package that could fund Ukraine, Taiwan, Israel and U.S. border security through next year's presidential election. The Senate returns Monday from a weeklong recess, but without a functioning House, no legislation can pass in Congress and make it to President Biden's desk.
Clashes Intensify as Israel Prepares Gaza Invasion
TEL AVIV-Israeli forces struck Gaza in the south on Sunday ahead of an imminent ground attack and amid a growing humanitarian crisis, as fighting between Israel and Islamic militants along its northern border with Lebanon intensified.
Foreign diplomats meanwhile scrambled to find a solution to a crisis that threatens to engulf the Middle East.
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TODAY IN CANADA
Economic Calendar (ET):
0830 Aug Monthly Survey of Manufacturing
0830 Aug Wholesale trade
1030 Bank of Canada Business Outlook Survey
Stocks to Watch:
Teck Provides Steelmaking Coal Sales, Pricing Update for 3Q; 3Q Steelmaking Coal Sales at 5.2M Tonnes, Below Guidance of 5.6M-6.0M Tonnes; Sales Affected by Slow Supply Chain Recovery After Wildifres, Labor Disruptions; Seeing Better Plant Performance in 4Q After Implementing Improvement Initiative; Realized Steelmaking Coal Price Averaged US$229/Tonne in 3Q; Expects Positive Steelmaking Coal Provisional Pricing Adjustment in 3Q; to Release 3Q Financial Results Oct 24
Expected Major Events for Monday
04:30/JPN: Aug Revised Industrial Production
04:30/JPN: Aug Revised Retail Sales
06:00/GER: Sep WPI
08:00/ITA: Sep CPI
12:30/CAN: Aug Monthly Survey of Manufacturing
12:30/CAN: Aug Wholesale trade
12:30/US: Oct Empire State Manufacturing Survey
14:30/CAN: Bank of Canada Business Outlook Survey
18:00/US: Sep Monthly Treasury Statement of Receipts and Outlays of the U.S. Government
All times in GMT. Powered by Kantar Media and Dow Jones.
Expected Earnings for Monday
Alphatec Holdings Inc (ATEC) is expected to report for 3Q.
CNB Financial Corp (Pennsylvania) (CCNE) is expected to report $0.55 for 3Q.
Charles Schwab Corp (SCHW) is expected to report $0.62 for 3Q.
CrossFirst Bankshares Inc (CFB) is expected to report for 3Q.
Enerpac Tool Group Corp (EPAC) is expected to report for 4Q.
Equity Lifestyle Properties Inc (ELS) is expected to report for 3Q.
FB Financial Corp (FBK) is expected to report $0.69 for 3Q.
Guaranty Bancshares Inc (GNTY) is expected to report $0.56 for 3Q.
Marten Transport (MRTN) is expected to report $0.18 for 3Q.
Middlefield Banc Corp (MBCN) is expected to report $0.58 for 3Q.
Orrstown Financial Services Inc (ORRF) is expected to report $0.81 for 3Q.
ServisFirst Bancshares Inc (SFBS) is expected to report $0.96 for 3Q.
Vintage Wine Estates Inc (VWE) is expected to report for 4Q.
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ANALYST RATINGS ACTIONS
Applied Materials Raised to Buy From Hold by Needham
Arcutis Biotherapeutics Cut to Neutral From Buy by Goldman Sachs
Dollar General Raised to Buy From Hold by Gordon Haskett
Eversource Energy Cut to Neutral From Buy by Guggenheim
Fortinet Cut to Equal-Weight From Overweight by Barclays
Hecla Mining Raised to Buy From Neutral by Roth MKM
Immunovant Raised to Buy From Neutral by UBS
Kilroy Realty Raised to Buy From Hold by Jefferies
Lam Research Raised to Buy From Hold by Needham
Mister Car Wash Raised to Outperform From Neutral by Baird
Netflix Cut to Peer Perform From Outperform by Wolfe Research
Oshkosh Raised to Buy From Neutral by Citigroup
Outset Medical Cut to Underperform From Buy by B of A Securities
Tractor Supply Cut to Perform From Outperform by Oppenheimer
Varonis Systems Raised to Overweight From Equal-Weight by Barclays
This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires