"In isolation, the sanctions on Russia should be bullish for prices," says Matt Smith, lead oil analyst, Americas, at Kpler. However, they may have a limited effect, as Russian barrels get "rerouted and not taken off the market," while a price cap still has so much uncertainty surrounding it that its impact may be "muted due to workarounds or may simply be ineffective."
North Korea Fires Ballistic Missile After U.S. Summit With South Korea, Japan
SEOUL-North Korea fired a ballistic missile off its east coast Thursday, just hours after threatening a fiercer military response to the U.S. bolstering its security presence in the region with its allies South Korea and Japan.
The short-range ballistic missile was fired at 10:48 a.m. local time from the North's eastern coastal city of Wonsan, Seoul's military said. The missile hit an estimated altitude of roughly 29 miles, traveling about 149 miles before splashing into waters between the Korean Peninsula and Japan.
Republicans Win Control of House
WASHINGTON-Republicans won a majority of seats in the House of Representatives, the Associated Press said, bolstering their ability to steer the agenda on Capitol Hill after two years of Democratic control of both chambers of Congress and the White House.
More than a week after Election Day, the AP said GOP Rep. Mike Garcia won re-election in California's 27th District, putting the total seats at 218 for Republicans and 211 for Democrats in the 435-seat chamber late Wednesday. Republicans had been stuck at 217 since Monday, with several races still uncalled, mostly in California.
Karen Bass Is Elected Mayor of Los Angeles, Defeating Rick Caruso
Karen Bass has become the first woman elected mayor of Los Angeles, according to the Associated Press, as the California congresswoman defeated businessman Rick Caruso in a race that remained too close to call for more than a week.
Mr. Caruso, a billionaire real estate developer, began election night with a lead in early results, but mail ballots that arrived later broke in favor of Ms. Bass, a Democrat..
Write to paul.larkins@dowjones.com TODAY IN CANADA
Earnings:
Antibe Therapeutics 3Q
Aya Gold & Silver 4Q
BELLUS Health 4Q
Osisko Mining 3Q
Economic Indicators (ET):
0830 Sep Employment Insurance
Expected Major Events for Thursday
09:00/ITA: Sep Foreign Trade EU
13:00/RUS: Weekly International Reserves
13:30/US: Oct New Residential Construction - Housing Starts and Building Permits
13:30/US: Nov Philadelphia Fed Business Outlook Survey
13:30/US: 11/12 Unemployment Insurance Weekly Claims Report - Initial Claims
13:30/CAN: Sep Employment Insurance
13:30/US: U.S. Weekly Export Sales
15:30/US: 11/11 EIA Weekly Natural Gas Storage Report
16:00/US: Nov Federal Reserve Bank of Kansas City Survey of Tenth District Manufacturing
21:30/US: Foreign Central Bank Holdings
21:30/US: Federal Discount Window Borrowings
23:30/JPN: Oct CPI (Nation), CPI ex-food (Nation)
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Expected Earnings for Thursday
American Software (AMSWA) is expected to report $0.05 for 2Q.
Applied Materials Inc (AMAT) is expected to report $1.72 for 4Q.
BJ's Wholesale Club Holding Inc (BJ) is expected to report $0.87 for 3Q.
BellRing Brands Inc (BRBR) is expected to report for 4Q.
BitNile Holdings Inc (NILE) is expected to report for 3Q.
Brady Corp (BRC) is expected to report $0.79 for 1Q.
BrightView Holdings Inc (BV) is expected to report $0.21 for 4Q.
Clearfield (CLFD) is expected to report $0.88 for 4Q.
Delta Apparel Inc (DLA) is expected to report $0.23 for 4Q.
Destination XL Group Inc (DXLG) is expected to report $0.08 for 3Q.
Dolby Laboratories (DLB) is expected to report $0.41 for 4Q.
ESCO Technologies (ESE) is expected to report $1.13 for 4Q.
Farfetch Ltd (FTCH) is expected to report $-0.35 for 3Q.
Gap Inc (GPS) is expected to report $0.03 for 3Q.
Geospace Technologies (GEOS) is expected to report for 4Q.
Haynes International Inc (HAYN) is expected to report $0.25 for 4Q.
ICPEI Holdings Inc (ICPH.V) is expected to report for 3Q.
KVH Industries (KVHI) is expected to report $-0.06 for 3Q.
Keysight Technologies Inc (KEYS) is expected to report $1.85 for 4Q.
Kohl's Corp (KSS) is expected to report $1.19 for 3Q.
Leslie's Inc (LESL) is expected to report for 4Q.
Macy's Inc (M) is expected to report $0.18 for 3Q.
Matthews International (MATW) is expected to report $0.34 for 4Q.
Natural Grocers by Vitamin Cottage Inc (NGVC) is expected to report $0.01 for 4Q.
NetEase Inc - ADR (K3MD.SG,NTES) is expected to report $1.45 for 3Q.
New Jersey Resources Corp (NJR) is expected to report $0.35 for 4Q.
Palo Alto Networks Inc (PANW) is expected to report $-0.05 for 1Q.
Post Holdings Inc (POST) is expected to report $1.00 for 4Q.
Provident Bancorp Inc (PVBC) is expected to report for 3Q.
Reliv International Inc (RELV) is expected to report for 3Q.
Ross Stores Inc (ROST) is expected to report $0.80 for 3Q.
The Children's Place Inc (PLCE) is expected to report $3.74 for 3Q.
UGI Corp (UGI) is expected to report $-0.07 for 4Q.
Universal Security Instruments Inc (UUU) is expected to report for 2Q.
Williams-Sonoma Inc (WSM) is expected to report $3.76 for 3Q.
Woodward Inc (WWD) is expected to report $0.83 for 4Q.
Xebec Adsorption Inc (XBC.T,XEBEF) is expected to report for 3Q.
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ANALYST RATINGS ACTIONS
ABVC BioPharma Cut to Hold From Buy by Maxim Group
Advance Auto Parts Cut to Neutral From Buy by UBS
BM Technologies Cut to Market Perform From Outperform by Northland Capital Markets
Cabot Corp Raised to Buy From Hold by Deutsche Bank
Corteva Cut to Neutral From Buy by UBS
Dollar Tree Raised to Positive From Mixed by OTR Global
DT Midstream Cut to Peer Perform From Outperform by Wolfe Research
Evelo Biosciences Cut to Neutral From Buy by Chardan Capital
Evoqua Water Technologies Cut to Perform From Outperform by Oppenheimer
Home Depot Cut to Market Perform From Outperform by Raymond James
Infinity Pharmaceuticals Cut to Neutral From Buy by B. Riley Securities
Inhibikase Therapeutics Cut to Hold From Buy by JonesTrading
Lincoln National Raised to Buy From Neutral by Goldman Sachs
Magellan Midstream Cut to Underperform From Peer Perform by Wolfe Research
McGrath RentCorp Cut to Neutral From Buy by Sidoti & Co.
Neoleukin Therapeutics Cut to Neutral From Buy by HC Wainwright & Co.
Neximmune Cut to Neutral From Overweight by Cantor Fitzgerald
Oscar Health Raised to Overweight From Equal-Weight by Wells Fargo
Provident Bancorp Cut to Equal-Weight From Overweight by Stephens & Co.
Rapid7 Cut to Sector Weight From Overweight by Keybanc
Rocket Cos. Cut to Sell From Hold by Argus Research
Sotera Health Cut to Underweight From Equal-Weight by Barclays
Spectrum Pharmaceuticals Cut to Neutral From Buy by B. Riley Securities
Unum Group Cut to Neutral From Buy by Goldman Sachs
Winc Cut to Hold From Buy by Canaccord Genuity
Xylem Raised to Overweight From Neutral by Atlantic Equities
This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
11-17-22 0558ET
