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North American Morning Briefing : Stock Furures -3-

08/23/2021 | 05:57am EDT

The machines are the heart of the New York-based company, which makes money by plugging the high-powered computers into cheap electricity sources so they can work through mathematical problems to unlock new bitcoin. The process, called mining, has gone from something any individual with a PC could do a decade ago, to a massive industry that uses numerous computers and lots of electricity.

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U.S. Banks and Money-Transfer Firms Tread Carefully in Taliban-Controlled Afghanistan

Two major U.S. money-transfer services have suspended payments into Afghanistan, and American banks are more closely scrutinizing transactions with Afghan counterparts, as they await clarity on whether U.S. sanctions on the Taliban apply across the nation now that the Islamist group is in control.

The result could deepen the country's financial crisis in the near term and, if sanctions apply more broadly to any business dealings with the Taliban-controlled nation, Afghanistan could join North Korea and Iran as pariahs in the international financial system.

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Real-Estate Interests Ask Supreme Court to Block Biden's Eviction Moratorium

WASHINGTON-A group of property managers and real-estate agents asked the Supreme Court to block the Biden administration's new eviction moratorium Friday, filing papers hours after a federal appeals court rejected their challenge to the pandemic-relief policy.

The move followed a decision by a three-judge panel from the U.S. Court of Appeals for the District of Columbia Circuit, which declined an emergency request by the real-estate interests to lift the moratorium that the Centers for Disease Control and Prevention imposed on Aug. 3. The appellate court's order was brief and didn't offer detailed legal reasoning.

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U.S. Warns of Islamic State Threat to Americans in Afghanistan

WASHINGTON-The U.S. warned that Islamic State poses a threat to Americans in Afghanistan as the Biden administration seeks to evacuate thousands of U.S. citizens and Afghan allies.

"The threat is real. It is acute. It is persistent. And it is something we are focused on with every tool in our arsenal," Jake Sullivan, President Biden's national security adviser, told CNN on Sunday when asked whether crowds at the Kabul international airport are vulnerable to terrorist attacks.

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Tennessee Floods Leave at Least 21 Dead

At least 21 are dead and 45 are missing after catastrophic flash floods in Tennessee, authorities said Sunday.

The flooding in several rural counties west of Nashville began after 9 to 17 inches of rain fell across the region in a six-hour period on Saturday, according to the Tennessee Emergency Management Agency.

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Henri Brings Floods, Power Outages to East Coast

After making landfall in Rhode Island Sunday, Henri weakened as it moved slowly along the Eastern U.S., bringing heavy rain but also relief that the storm didn't hit as hard as feared.

Tens of thousands of homes and businesses lost power in Rhode Island, Connecticut and Massachusetts. Heavy rains that could cause flash flooding are still expected in parts of the Northeast.

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Arizona Election Audit Exposes GOP Rifts as 2022 Midterms Loom

SCOTTSDALE, Ariz.-Nine months after the 2020 election and as preparations for next year's midterm elections get under way, Arizona Republicans are split over whether a review of November's election result in the state's most populous county will turn off, or reassure, voters.

President Biden won Arizona over former President Donald Trump with a margin of just over 10,000 votes out of more than 3.3 million cast statewide. A recount of a sample of ballots in Maricopa County found no issues. Two firms accredited by the federal U.S. Election Assistance Commission, considered the gold standard for the industry, tested Maricopa's voting machines and said they passed.

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Clashes Erupt in Northern Afghanistan as Taliban Pursue Talks With Former Foes

The Taliban fought deadly battles with budding resistance forces in northern Afghanistan, as political negotiations on a broader government moved ahead in Kabul and access to the city's U.S.-run airport remained difficult for thousands of Afghans trying to flee.

While most of Afghanistan's army and security forces collapsed, some of the Taliban's most dedicated foes have retreated to the Panjshir valley northeast of Kabul, pledging to continue the fight from the country's only province not under Taliban sway.

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Pentagon Orders Airlines to Help With Afghan Evacuees as U.S. Weighs New Exit Deadline

President Biden said Sunday that his administration may extend an Aug. 31 deadline for withdrawing troops from Afghanistan, as the Pentagon enlisted the help of U.S. airlines to evacuate Americans and Afghan partners from the country.

"There's discussions going on among us and the military about extending" the deadline, Mr. Biden told reporters at the White House. "Our hope is that we will not have to extend. But there are going to be discussions I expect about how far along we are in the process."

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More Children Are Hospitalized With Covid-19, and Doctors Fear It Will Get Worse

Hospitals in the South and Midwest say they are treating more children with Covid-19 than ever and are preparing for worse surges to come.

Cases there have jumped over the past six weeks as the highly contagious Delta variant spreads primarily among unvaccinated people. That is leading to more sick kids in places where community spread of the variant is high, public-health experts say.

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Three News Organizations Complete Kabul Evacuation Following Dangerous Encounters

The Wall Street Journal evacuated its last workers out of Kabul on Saturday after a week of repeated attempts that included attacks against some of them and the assistance of the Qatari government.

The successful evacuation by the Journal concluded an effort by the Journal, the New York Times and the Washington Post to get more than 200 people out of the country over the last week. By Friday morning, the Journal said it facilitated the safe passage of its Afghanistan colleagues and their families, evacuating 76 people to Qatar; the last four remained in the airport in Kabul awaiting a promised flight for three days.

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Hurricane Grace Leaves at Least Eight Dead in Mexico

MEXICO CITY-Hurricane Grace left at least eight people dead in its passage across Mexico's Gulf Coast state of Veracruz, where it brought flooding and mudslides, blew down trees and billboards, and knocked out power.

Grace made landfall in the northern part of Veracruz around 1 a.m. local time Saturday as a Category 3 hurricane with 125 mile-an-hour winds. It weakened quickly as it crossed Mexico's mountainous terrain and dissipated over central Mexico Saturday afternoon, the U.S.'s National Hurricane Center said.

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Write to paul.larkins@wsj.com

TODAY IN CANADA

Earnings:

Dye & Durham 4Q

Economic Indicators:

None scheduled

Stocks to Watch:

Ontario's Covid Moves Will Likely Weigh on Dollarama 2Q:

National Bank Of Canada sees sequential pressure from COVID-19 related restrictions in Ontario when Dollarama reports 2Q results on Sept. 9. The investment bank projects same store sales to decline 0.7% in the period, compared with growth of 5.4% last year, excluding store closures.

As a result, National Bank of Canada projects EPS of C$0.50, in line with consensus, compared with C$0.46 in last year's 2Q. Looking forward, the investment bank projects solid earnings growth through fiscal 2022, primarily aided by ongoing sales gains, SG&A leverage and buybacks. However, it cautions that the outlook isn't assured, as the company faces "several headwinds," from past Halloween and Christmas comparatives and weaker impulse purchases.

Expected Major Events for Monday

00:30/JPN: Aug Japan Flash Manufacturing PMI

05:00/JPN: Jul Steel Production

05:30/JPN: Jul Tokyo area department store sales

05:30/JPN: Jul Nationwide department store sales

07:15/FRA: Aug France Flash PMI

07:30/GER: Aug Germany Flash PMI

08:30/UK: Aug Flash UK PMI

10:00/UK: Aug CBI Industrial Trends Survey

12:30/US: Jul CFNAI Chicago Fed National Activity Index

13:45/US: Aug US Flash Manufacturing PMI

13:45/US: Aug US Flash Services PMI

14:00/US: Jul Existing Home Sales

All times in GMT. Powered by Kantar Media and Dow Jones.

Expected Earnings for Monday

Adamis Pharmaceuticals Corp (ADMP) is expected to report $-0.04 for 2Q.

Ascent Solar Technologies Inc (ASTI) is expected to report for 2Q.

Comstock Holding Companies Inc (CHCI) is expected to report for 2Q.

Flexsteel (FLXS) is expected to report for 4Q.

Fortress Biotech Inc (FBIO) is expected to report $-0.08 for 2Q.

Ituran Location (ITRN,ITRN-TV) is expected to report for 2Q.

Liminal BioSciences Inc (LMNL,LMNL-T) is expected to report for 2Q.

Madison Square Garden Entertainment Corp (MSGE) is expected to report for 4Q.

Mustang Bio Inc (MBIO) is expected to report $-0.18 for 2Q.

Nuverra Environmental Solutions (NES) is expected to report for 2Q.

Ocean Bio-Chem (OBCI) is expected to report for 2Q.

Oncotelic Therapeutics Inc (OTLC) is expected to report for 2Q.

Palo Alto Networks Inc (PANW) is expected to report $-1.14 for 4Q.

Perpetua Resources Corp (PPTA.T) is expected to report for 3Q.

Pioneer Bancorp Inc (PBFS) is expected to report for 4Q.

Remark Holdings Inc (MARK) is expected to report $-0.03 for 2Q.

SWK Holdings Corp (SWKH) is expected to report $0.41 for 2Q.

Seabridge Gold (SA,SEA.T) is expected to report for 2Q.

Sino-Global Shipping Amer (SINO) is expected to report for 3Q.

Smart Share Global Ltd - ADR (EM) is expected to report for 2Q.

TSR (TSRI) is expected to report for 4Q.

Powered by Kantar Media and Dow Jones.

ANALYST RATINGS ACTIONS

Aprea Therapeutics Cut to Underweight From Neutral by JP Morgan

(MORE TO FOLLOW) Dow Jones Newswires

08-23-21 0556ET

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