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North American Morning Briefing: Muted Start Seen -2-

11/17/2022 | 05:59am EST

"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)

All times in GMT. Powered by Onclusive and Dow Jones.


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.

Powered by Onclusive and Dow Jones.


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

Stocks mentioned in the article
ChangeLast1st jan.
ABVC BIOPHARMA, INC. -0.14% 0.7599 Delayed Quote.21.58%
ADVANCE AUTO PARTS, INC. -0.12% 147.44 Delayed Quote.0.28%
AMERICAN SOFTWARE, INC. -0.61% 14.68 Delayed Quote.0.00%
ANTIBE THERAPEUTICS INC. 3.51% 0.59 Delayed Quote.25.53%
APPLIED MATERIALS, INC. -2.66% 112.5 Delayed Quote.18.69%
AULT GLOBAL HOLDINGS 1.45% 0.1261 End-of-day quote.2.94%
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) 0.00% 0.7103 Delayed Quote.4.40%
BARCLAYS PLC 0.40% 185.78 Delayed Quote.17.20%
BELLRING BRANDS, INC. -0.15% 27.4 End-of-day quote.6.86%
BELLUS HEALTH INC. -0.46% 10.77 Delayed Quote.-2.80%
BJ'S WHOLESALE CLUB HOLDINGS, INC. 0.06% 69.7 Delayed Quote.5.35%
BM TECHNOLOGIES, INC. 2.82% 5.1 Delayed Quote.-2.11%
BRADY CORPORATION -0.55% 52.49 Delayed Quote.11.44%
BRENT OIL -1.57% 86.05 Delayed Quote.1.71%
BRIGHTVIEW HOLDINGS, INC. 2.39% 8.14 Delayed Quote.18.14%
BRITISH POUND / US DOLLAR (GBP/USD) 0.00% 1.2397 Delayed Quote.2.63%
CABOT CORPORATION -1.21% 74.07 Delayed Quote.10.82%
CANACCORD GENUITY GROUP INC. 0.79% 11.49 Delayed Quote.36.95%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) 0.01% 0.7508 Delayed Quote.1.73%
CORTEVA, INC. 1.11% 63.83 Delayed Quote.8.59%
DELTA APPAREL, INC. -1.65% 11.91 Delayed Quote.12.25%
DEUTSCHE BANK AG 1.71% 12.34 Delayed Quote.16.55%
DOLBY LABORATORIES, INC. 0.09% 79.78 Delayed Quote.13.10%
DOLLAR TREE, INC. -0.05% 150.37 Delayed Quote.6.37%
DT MIDSTREAM, INC. 0.47% 53.9 Delayed Quote.-2.46%
ESCO TECHNOLOGIES INC. -0.12% 94.23 Delayed Quote.7.64%
EURO / US DOLLAR (EUR/USD) 0.01% 1.0866 Delayed Quote.1.78%
EVELO BIOSCIENCES, INC. 1.96% 1.04 Delayed Quote.-35.40%
EVOQUA WATER TECHNOLOGIES CORP. 0.97% 47.78 Delayed Quote.20.66%
GEOSPACE TECHNOLOGIES CORPORATION -0.52% 4.755 Delayed Quote.12.68%
HAYNES INTERNATIONAL, INC. -4.25% 54.69 Delayed Quote.19.70%
INDIAN RUPEE / US DOLLAR (INR/USD) -0.11% 0.012271 Delayed Quote.1.60%
INFINITY PHARMACEUTICALS, INC. -1.54% 0.64 Delayed Quote.15.32%
INHIBIKASE THERAPEUTICS, INC. -7.32% 0.658 Delayed Quote.31.60%
KEYSIGHT TECHNOLOGIES, INC. -1.45% 177.45 Delayed Quote.5.26%
KOHL'S CORPORATION -1.56% 31.49 Delayed Quote.24.71%
KVH INDUSTRIES, INC. 0.00% 10.22 Delayed Quote.0.00%
LINCOLN NATIONAL CORPORATION 3.63% 34.3 Delayed Quote.7.75%
MACY'S, INC. -1.66% 23.08 Delayed Quote.11.77%
MAGELLAN MIDSTREAM PARTNERS, L.P. -0.15% 54.29 Delayed Quote.8.13%
MATTHEWS INTERNATIONAL CORPORATION -7.93% 34.58 Delayed Quote.23.39%
MCGRATH RENTCORP -0.83% 95.29 Delayed Quote.-3.49%
NATURAL GROCERS BY VITAMIN COTTAGE, INC. 1.35% 9.75 Delayed Quote.5.25%
NEOLEUKIN THERAPEUTICS, INC. -1.67% 0.5999 Delayed Quote.17.86%
NETEASE, INC. -0.69% 91.65 Delayed Quote.27.07%
NEW JERSEY RESOURCES CORPORATION -0.18% 49.44 Delayed Quote.-0.36%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) 0.00% 0.6492 Delayed Quote.2.23%
NEXIMMUNE, INC. 16.09% 0.44 Delayed Quote.81.00%
OSCAR HEALTH, INC. 3.98% 3.4 Delayed Quote.38.21%
OSISKO MINING INC. 1.42% 3.58 Delayed Quote.2.29%
PALO ALTO NETWORKS, INC. 0.42% 159.78 Delayed Quote.14.50%
POST HOLDINGS, INC. -0.24% 91.07 Delayed Quote.0.90%
PROVIDENT BANCORP, INC. 11.22% 9.22 Delayed Quote.26.65%
RAPID7, INC. 7.89% 39.38 Delayed Quote.15.89%
ROSS STORES, INC. -1.02% 119.48 Delayed Quote.2.94%
S&P GSCI NATURAL GAS INDEX 0.04% 133.3926 Real-time Quote.-36.36%
SILVER -0.06% 23.56 Delayed Quote.-0.19%
SOTERA HEALTH COMPANY 2.52% 17.09 Delayed Quote.105.16%
SPECTRUM PHARMACEUTICALS, INC. -2.70% 0.5692 Delayed Quote.58.75%
THE CHILDREN'S PLACE, INC. 7.18% 43.6 Delayed Quote.19.71%
THE GAP, INC. -1.57% 13.2 Delayed Quote.18.88%
THE HOME DEPOT, INC. 0.92% 316.69 Delayed Quote.0.26%
UGI CORPORATION 0.38% 39.81 Delayed Quote.6.99%
UNIVERSAL SECURITY INSTRUMENTS, INC. 0.96% 2.1 Delayed Quote.2.46%
UNUM GROUP -0.10% 41.56 Delayed Quote.1.39%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) 1.23% 70.627 Delayed Quote.-3.48%
WELLS FARGO & COMPANY 0.68% 46.12 Delayed Quote.11.70%
WINC, INC. -36.65% 0.0178 Delayed Quote.61.82%
WOODWARD, INC. 0.81% 110.65 Delayed Quote.14.53%
WTI 0.00% 79.45 Delayed Quote.0.75%
XL HOLDINGS 1.85% 0.825 End-of-day quote.7.14%
XYLEM INC. 1.08% 102.42 Delayed Quote.-7.37%
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