WASHINGTON-Four years ago, when President Biden clinched the Democratic nomination, he aggressively courted progressives, forming an alliance that helped propel him to the White House and has largely stayed intact. Now, deep cracks between him and the left are emerging that threaten his chances of re-election in 2024.
The president's handling of the war in Gaza has strained his relationship with progressives over the last three months. His push for a bipartisan plan that would severely restrict migration at the southern border has further jeopardized his standing with the constituency, which includes young voters and minority voters.
Write to ina.kreutz@wsj.com
TODAY IN CANADA
Earnings:
Finning 4Q
FirstSvc 4Q
Intl Petroleum 4Q
Precision Drilling 4Q
Stingray 3Q
Economic Events (ET):
0830 Dec Building permits
1000 Jan Ivey Purchasing Managers Index
1300 Bank of Canada Governor Tiff Macklem speech at Montreal
Council on Foreign Relations event
Stocks to Watch:
TMX Group 4Q EPS C$0.31; 4Q Rev C$301.5M; 4Q Adj EPS C$0.37
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Total Energy Services: Appeal of Certain Canadian Income Tax Reassessments Related to the Co's Conversion From an Income Trust in 2009 Has Been Dismissed by the Tax Court of Canada; Total Will Remit C$9.1M of Reassessed Income Taxes Together With Interest as Soon as Possible and Intends to Appeal the Judgment; Canada Rev Agency Reassessed Co. for C$16.2M of Income Taxes Owing, of Which $7.1M Was Previously Remitted
Expected Major Events for Tuesday
00:01/UK: 1Q CBI SME Trends Survey
00:01/UK: Jan BRC-KPMG Retail Sales Monitor
00:01/UK: Jan Scottish Retail Sales Monitor
02:00/JPN: Jan Imported Vehicle Sales
07:00/GER: Dec Manufacturing orders
07:00/GER: Dec Manufacturing turnover
08:59/JPN: Dec Provisional Labour Survey - Earnings, Employment & Hours Worked
09:00/ITA: Jan Business Confidence Survey
09:00/ITA: Jan Consumer Confidence Survey
09:30/UK: Jan S&P Global UK Construction PMI
13:30/CAN: Dec Building permits
13:55/US: 02/03 Johnson Redbook Retail Sales Index
15:00/US: Dec Metropolitan Area Employment and Unemployment
15:00/CAN: Jan Ivey Purchasing Managers Index
15:00/US: Feb RCM/TIPP Economic Optimism Index
21:30/US: API Weekly Statistical Bulletin
23:50/JPN: Jan International Reserves / Foreign Currency
23:50/JPN: Jan Provisional Trade Statistics for 1st 20 days of Month
All times in GMT. Powered by Kantar Media and Dow Jones.
Expected Earnings for Tuesday
AGCO Corp (AGCO) is expected to report $3.97 for 4Q.
AMETEK (AME) is expected to report $1.45 for 4Q.
Akoustis Technologies Inc (AKTS) is expected to report $-0.23 for 2Q.
Aramark Corp (ARMK) is expected to report $0.25 for 1Q.
ArcBest Corp (ARCB) is expected to report $2.14 for 4Q.
CF Bankshares Inc (CFBK) is expected to report for 4Q.
CONSOL Energy Inc (CEIX) is expected to report $5.51 for 4Q.
CTS Corp (CTS) is expected to report $0.45 for 4Q.
Carrier Global Corp (CARR) is expected to report for 4Q.
Centene Corp (CNC) is expected to report $0.13 for 4Q.
Cerence Inc (CRNC) is expected to report for 1Q.
Cummins Inc (CMI) is expected to report $4.45 for 4Q.
Deciphera Pharmaceuticals Inc (DCPH) is expected to report $-0.58 for 4Q.
DuPont de Nemours Inc (DD) is expected to report for 4Q.
Eli Lilly & Co (LLY) is expected to report $2.25 for 4Q.
Energizer Holdings Inc (ENR) is expected to report $0.54 for 1Q.
Fastenal Co (FAST) is expected to report.
FirstService Corp (FSV,FSV.T) is expected to report for 4Q.
Fiserv Inc (FI) is expected to report $1.48 for 4Q.
Frontier Group Holdings Inc (ULCC) is expected to report for 4Q.
Gartner (IT) is expected to report $2.42 for 4Q.
Hamilton Lane Inc (HLNE) is expected to report $0.87 for 3Q.
Hertz Global Holdings Inc (HTZ) is expected to report for 4Q.
Ingredion Inc (INGR) is expected to report $1.85 for 4Q.
Jacobs Solutions Inc (J) is expected to report for 1Q.
KKR & Co Inc (KKR) is expected to report $0.79 for 4Q.
Lear Corp (LEA) is expected to report $2.95 for 4Q.
LiveWorld Inc (LVWD) is expected to report for 4Q.
Madison Square Garden Sports Corp (MSGS) is expected to report $0.47 for 2Q.
Mueller Industries Inc (MLI) is expected to report $0.65 for 4Q.
New Jersey Resources Corp (NJR) is expected to report $0.65 for 1Q.
PJT Partners Inc (PJT) is expected to report $0.60 for 4Q.
Praxis Precision Medicines Inc (PRAX) is expected to report for 4Q.
Precision Drilling (PD.T,PDS) is expected to report for 4Q.
Premier Inc (PINC) is expected to report $0.46 for 2Q.
ScanSource Inc (SCSC) is expected to report $0.84 for 2Q.
Spirit AeroSystems Holdings Inc (SPR) is expected to report $2.60 for 4Q.
Tradeweb Markets Inc (TW) is expected to report for 4Q.
Valvoline Inc (VVV) is expected to report $0.30 for 1Q.
Xylem Inc (XYL) is expected to report $0.73 for 4Q.
Powered by Kantar Media and Dow Jones.
ANALYST RATINGS ACTIONS
4D Molecular Shares Hit 52-Week High After 4D-150 Eye Treatment Trial
Apellis Pharmaceuticals Raised to Buy From Hold by Jefferies
BigCommerce Holdings Cut to Neutral From Buy by Goldman Sachs
Charter Communications Cut to Neutral From Overweight by JP Morgan
Cigna Raised to Outperform From Sector Perform by RBC Capital
Cigna Raised to Overweight From Neutral by Cantor Fitzgerald
Citizens Financial Group Raised to Buy From Neutral by Citigroup
Clorox Cut to Neutral From Buy by DA Davidson
Dover Corp Raised to Buy From Neutral by Seaport Global
Everbridge Cut to Hold From Buy by Canaccord Genuity
Everbridge Cut to Hold From Buy by Needham
Everbridge Cut to Market Perform From Outperform by William Blair
GlobalFoundries Cut to Neutral From Overweight by JP Morgan
Hilton Cut to In-Line From Outperform by Evercore ISI Group
Hyatt Hotels Cut to In-Line From Outperform by Evercore ISI Group
Klaviyo Raised to Buy From Neutral by Goldman Sachs
Markel Cut to Hold From Buy by Jefferies
Mattel Cut to Neutral From Overweight by JP Morgan
Minerals Technologies Raised to Buy From Neutral by Seaport Global
Pangaea Logistics Solns Cut to Neutral From Buy by Alliance Global Partners
Portland General Electric Cut to Neutral From Buy by B of A Securities
Schneider National Cut to Equal-Weight From Overweight by Stephens & Co.
SiNtx Technologies Cut to Hold From Buy by Maxim Group
Six Flags Cut to Neutral From Buy by B. Riley Securities
Skywest Raised to Outperform From Market Perform by TD Cowen
Take-Two Interactive Cut to Neutral From Buy by MoffettNathanson
Tapestry Raised to Outperform From In-Line by Evercore ISI Group
TJX Cos Cut to Neutral From Buy by Redburn Atlantic
Warner Music Group Raised to Neutral From Sell by Redburn Atlantic
This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
02-06-24 0615ET
