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North American Morning Briefing: Stock Futures -2-

09/27/2021 | 06:13am EST

The latest special-purpose-acquisition-company excitement focuses on firms like cybersecurity firm IronNet Inc. that suffered significant investor withdrawals ahead of going public by closing SPAC mergers. High withdrawals leave the companies going public with less cash to put into their businesses and can make it harder for them to meet the growth projections they made as part of the deals with so-called blank-check companies.

Read More ->

Economy Week Ahead: Consumer Spending, Inflation, Manufacturing

The Commerce Department's monthly report on U.S. consumer spending highlights this week's economic data.

Read More ->

Cargo Piles Up as California Ports Jostle Over How to Resolve Delays

Nike Inc. doesn't have enough sneakers to sell for the holidays. Costco Wholesale Corp. is reimposing limits on paper towel purchases. Prices for artificial Christmas trees have jumped 25% this season.

Despite mounting shipping delays and cargo backlogs, the busiest U.S. port complex shuts its gates for hours on most days and remains closed on Sundays. Meanwhile, major ports in Asia and Europe have operated round-the-clock for years.

Read More ->

In a Troubled U.S.-China Relationship, Moments of Pragmatism Emerge

Behind-the-scenes dealings that freed a Chinese executive from U.S. prosecution removed a stumbling block between the nations and demonstrated a little-noticed pragmatic dimension to the relationship.

The U.S. and China are at loggerheads on numerous fronts, from technology and human rights to Beijing's territorial claims; the United Nations secretary-general this month termed the nations' relationship as "completely dysfunctional."

Read More ->

Debt-Limit Standoff Could Force Fed to Revisit Emergency Playbook

A crisis-management playbook Federal Reserve officials created years ago could guide their response this fall if the federal government can't pay all its bills because of a political standoff over raising the federal debt limit.

The options include the Fed buying Treasury securities in default on the open market and selling Treasurys owned by the Fed to counteract potentially severe strains in financial markets, according to the transcript of an October 2013 conference call.

Read More ->

Logistics Operators Raise Pay, Enlist Robots to Meet Holiday Demand

Warehouse operators are throwing every tool they can at increasingly urgent efforts to hire seasonal workers as they brace for an expected flood of holiday goods amid competition for scarce labor from deep-pocketed rivals.

Logistics providers are boosting pay, adding flexibility to shifts, blanketing social media with recruitment ads and even shipping in more robots to help workers field surging e-commerce volumes. They are also jockeying with titans like Amazon.com Inc., Walmart Inc. and United Parcel Service Inc. that are dangling inducements, from signing bonuses to assistance with college tuition, as they push to bring on hundreds of thousands of workers ahead of the holidays.

Read More ->

Bitcoin Miners Eye Nuclear Power as Environmental Criticism Mounts

Bitcoin miners, under fire for their sizable environmental footprint, are forging partnerships with owners of struggling nuclear-power plants with electricity to spare.

The matchups have the potential to solve key issues facing each industry, executives and analysts say: Electricity-hungry bitcoin miners want stable and carbon-free power, while nuclear plants facing competition from cheaper power sources need new customers.

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Center-Left Wins Narrow Victory in German Elections

BERLIN-Germany faces weeks and perhaps months of uncertainty as Sunday's narrow victory for the center-left in national elections left open the shape and agenda of its next government and offered little clarity about who would succeed Chancellor Angela Merkel.

At least initially, the world's fourth-largest economy and the European Union's biggest member could find itself without strong leadership, then with a weakened government in the following four years.

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Congress Heads Into Tumultuous Week Pressured by Converging Deadlines

WASHINGTON-A slew of high-stakes deadlines will collide on Capitol Hill this week, setting up potentially chaotic negotiations against the backdrop of expiring government funding and the threat of a possible U.S. default.

Even by the standards of a Capitol used to operating under pressure, this week's maelstrom of legislative and fiscal crosscurrents is setting the stage for an extraordinary sprint. Democratic leaders are trying to shepherd two complicated legislative packages: a roughly $1 trillion bipartisan infrastructure bill and a sprawling healthcare, education and climate package whose proposed $3.5 trillion price tag and contents are still under intense debate within the party.

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WHO Seeks to Revive Stalled Inquiry Into Origins of Covid-19 With New Team

The World Health Organization is reviving its stalled investigation into the origins of the Covid-19 virus as agency officials warn that time is running out to determine how the pandemic that has killed more than 4.7 million people world-wide began.

A new team of about 20 scientists-including specialists in laboratory safety and biosecurity and geneticists and animal-disease experts versed in how viruses spill over from nature-is being assembled with a mandate to hunt for new evidence in China and elsewhere.

Read More ->

Covid-19 Panel of Scientists Investigating Origins of Virus Is Disbanded

Columbia University professor Jeffrey Sachs said he has disbanded a task force of scientists probing the origins of Covid-19 in favor of wider biosafety research.

Dr. Sachs, chairman of a Covid-19 commission affiliated with the Lancet scientific journals, said he closed the task force because he was concerned about its links to EcoHealth Alliance. The New York-based nonprofit has been under scrutiny from some scientists, members of Congress and other officials since 2020 for using U.S. funds for studies on bat coronaviruses with the Wuhan Institute of Virology, a research facility in the Chinese city where the first Covid-19 outbreak occurred.

Read More ->

Write to sarka.halas@wsj.com

TODAY IN CANADA

Earnings:

Aurora Cannabis 4Q

Economic Indicators:

Nothing major scheduled

Expected Major Events for Monday

05:00/JPN: Jul Indexes of Business Conditions - Revision

08:00/ITA: Aug Foreign Trade non-EU

08:30/UK: Aug Capital issuance

12:30/US: Aug Advance Report on Durable Goods

14:30/US: Sep Texas Manufacturing Outlook Survey

23:01/UK: Aug Zoopla House Price Index

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.

Allied Healthcare (AHPI) is expected to report for 4Q.

Aurora Cannabis Inc (ACB,ACB.T) is expected to report for 4Q.

Concentrix Corp (CNXC) is expected to report for 3Q.

Escalon Medical (ESMC) is expected to report for 4Q.

Espey Manufacturing & Electronics Corp (ESP) is expected to report for 4Q.

Fonar Corp (FONR) is expected to report for 4Q.

Natural Alternatives International Inc (NAII) is expected to report for 4Q.

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

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

S&W Seed (SANW) is expected to report $-0.16 for 4Q.

iBio Inc (IBIO) is expected to report $-0.04 for 4Q.

Powered by Kantar Media and Dow Jones.

ANALYST RATINGS ACTIONS

Allogene Therapeutics Raised to Outperform From Market Perform by Raymond James

BJ's Restaurants Raised to Buy From Hold by Jefferies

CenterPoint Energy Raised to Overweight From Sector Weight by Keybanc

Cheesecake Factory Raised to Buy From Hold by Jefferies

Chuy's Holdings Raised to Buy From Hold by Jefferies

Dave & Busters Raised to Buy From Hold by Jefferies

Hexcel Cut to Neutral From Buy by Seaport Global

Infinera Cut to Neutral From Buy by MKM Partners

Red Robin Raised to Buy From Hold by Jefferies

Roku Cut to Equal-Weight From Overweight by Wells Fargo

SL Green Realty Raised to Neutral From Underperform by B of A Securities

Spire Inc Raised to Buy From Neutral by Mizuho

Tenable Holdings Raised to Buy From Hold by Berenberg

Valley National Bancorp Raised to Neutral From Sell by Citigroup

Vornado Raised to Neutral From Underperform by B of A Securities

This article is a text version of a Wall Street Journal newsletter published earlier today.

(END) Dow Jones Newswires

09-27-21 0612ET

Stocks mentioned in the article
ChangeLast1st jan.
AURORA CANNABIS INC. 0.00% 8.21 Delayed Quote.-22.55%
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) -0.31% 0.7125 Delayed Quote.-7.21%
AUXLY CANNABIS GROUP INC. 0.00% 0.225 Delayed Quote.-13.73%
BITCOIN (BTC/EUR) -1.20% 50679 Real-time Quote.116.24%
BITCOIN (BTC/USD) -0.85% 57452 Real-time Quote.100.67%
BRITISH POUND / US DOLLAR (GBP/USD) -0.11% 1.3297 Delayed Quote.-2.44%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) -0.36% 0.7821 Delayed Quote.0.01%
CANOPY GROWTH CORPORATION -2.63% 13.72 Delayed Quote.-55.01%
CENTERPOINT ENERGY, INC. -2.56% 25.91 Delayed Quote.21.21%
CITIGROUP INC. -2.06% 63.7 Delayed Quote.5.48%
CONCENTRIX CORPORATION -4.32% 166 Delayed Quote.75.78%
COSTCO WHOLESALE CORPORATION -2.79% 539.38 Delayed Quote.47.27%
CRONOS GROUP INC. 1.94% 5.79 Delayed Quote.-35.75%
DJ INDUSTRIAL -1.86% 34483.72 Delayed Quote.14.80%
EURO / US DOLLAR (EUR/USD) 0.38% 1.1334 Delayed Quote.-7.56%
FONAR CORPORATION -5.16% 16.35 Delayed Quote.-0.69%
HEXCEL CORPORATION -3.11% 51.38 Delayed Quote.9.36%
HEXO CORP. 0.71% 1.42 Delayed Quote.809.68%
IBIO, INC. -12.73% 0.745 Delayed Quote.-18.70%
INDIAN RUPEE / US DOLLAR (INR/USD) -0.08% 0.013317 Delayed Quote.-2.62%
INFINERA CORPORATION -1.57% 8.13 Delayed Quote.-21.18%
IRONNET, INC. -5.85% 8.04 Delayed Quote.-15.61%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) -0.15% 0.6817 Delayed Quote.-4.94%
NIKE, INC. -0.37% 169.24 Delayed Quote.20.07%
ORGANIGRAM HOLDINGS INC. 1.56% 2.61 Delayed Quote.52.07%
PIONEER BANCORP, INC. 1.05% 12.48 Delayed Quote.16.84%
RAYMOND JAMES FINANCIAL, INC. -2.27% 98.29 Delayed Quote.57.68%
ROKU, INC. -1.59% 227.61 Delayed Quote.-30.34%
S&P 500 -1.90% 4567 Delayed Quote.23.94%
SL GREEN REALTY CORP. -1.45% 69.43 Delayed Quote.14.89%
SPIRE INC. -3.41% 59.85 Delayed Quote.-3.25%
TENABLE HOLDINGS, INC. -2.33% 49.4 Delayed Quote.-3.21%
THE GREEN ORGANIC DUTCHMAN HOLDINGS LTD. -7.41% 0.125 Delayed Quote.-42.55%
WALMART INC. -1.40% 140.63 Delayed Quote.-1.05%
WELLS FARGO & COMPANY -2.81% 47.78 Delayed Quote.60.47%
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