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North American Morning Briefing: Stock Futures -2-

05/20/2022 | 05:34am EDT

Palm oil prices recovered quickly from a knee-jerk dip after Indonesia said its soon-to-be-lifted export ban will be replaced with a requirement for local producers to keep some output for domestic consumption.

But the outlook for the edible oil remains bearish as Malaysia and Indonesia, the world's biggest palm oil producers, head into a high production season in the second half, with supply likely to overtake demand despite a potential easing of China's Covid-19 restrictions and the Russia-Ukraine conflict, analysts say.


Financial Crimes Efforts Get Funding Boost as Part of Ukraine Aid Package

The U.S. Senate on Thursday approved nearly $100 million in funds that lawmakers said would be used to boost efforts to crack down on financial crimes, including through the enforcement of sanctions on Russia and the seizing of assets tied to the country's invasion of Ukraine.

The funds were part of a nearly $40 billion military and economic aid package to help Ukraine repel Russia's invasion that the Senate passed on Thursday with overwhelmingly bipartisan support. The bill, which will now be sent to President Biden for signing, brings America's commitment to helping Ukraine to almost $54 billion.


Oklahoma Lawmakers Pass Near-Total Ban on Abortion

Oklahoma's legislature on Thursday passed a ban on abortion at any stage of pregnancy, and delegated enforcement of the law to private citizens.

If signed by the governor, the legislation would be the toughest in effect in the country.


Write to paul.larkins@dowjones.com TODAY IN CANADA

Earnings:

None scheduled

Economic Indicators:

None scheduled


Expected Major Events for Friday

05:00/JPN: Apr Convenience Store Sales

06:00/GER: Apr PPI

06:00/UK: Apr UK monthly retail sales figures

06:45/FRA: 1Q New home sales

10:00/UK: Apr Aluminium Production report

14:00/US: 1Q Advance Quarterly Services

14:00/US: Apr State Employment and Unemployment

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


Expected Earnings for Friday

Booz Allen Hamilton Holding Corp (BAH) is expected to report $0.80 for 4Q.

Buckle Inc (BKE) is expected to report $0.90 for 1Q.

Deere & Co (DE) is expected to report $6.75 for 2Q.

Foot Locker Inc (FL) is expected to report $1.37 for 1Q.

Newcore Gold is expected to report for 1Q.

Odonate Therapeutics Inc (ODTC) is expected to report $-0.92 for 1Q.

Orgenesis Inc (ORGS) is expected to report $-0.04 for 1Q.

Pineapple Energy Inc (PEGY) is expected to report for 1Q.

Regional Health Properties Inc (RHE) is expected to report for 1Q.

Royale Energy (ROYL) is expected to report for 1Q.

SouthGobi Resources Ltd (1878.HK,SGQ.T,SGQRF) is expected to report for 1Q.

Spectral Medical is expected to report $-0.01 for 1Q.

Statera Biopharma Inc (STAB) is expected to report for 1Q.

Powered by Kantar Media and Dow Jones.


ANALYST RATINGS ACTIONS

Bank of New York Mellon Cut to Hold From Buy by Deutsche Bank

CSX Corp Cut to Neutral From Buy by Citigroup

Healthpeak Properties Cut to Neutral From Buy by B of A Securities

Life Storage Cut to Market Perform From Outperform by BMO Capital

Norfolk Southern Cut to Neutral From Buy by Citigroup

Physicians Realty Trust Cut to Underperform From Neutral by B of A Securities

Primerica Cut to Equal-Weight From Overweight by Morgan Stanley

Public Storage Raised to Outperform From Market Perform by BMO Capital

Reinsurance Group Raised to Equal-Weight From Underweight by Morgan Stanley

Schnitzer Steel Cut to Sector Weight From Overweight by Keybanc

Thor Industries Cut to Underperform From Neutral by DA Davidson

Under Armour Cut to Equal-Weight From Overweight by Morgan Stanley

Under Armour Cut to Hold From Buy by Williams Capital

Union Pacific Cut to Neutral From Buy by Citigroup

UWM Holdings Cut to Underweight From Neutral by Piper Sandler

Winnebago Cut to Neutral From Buy by DA Davidson

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


(END) Dow Jones Newswires

05-20-22 0533ET

Stocks mentioned in the article
ChangeLast1st jan.
BANK OF NEW YORK MELLON CORPORATION (THE) 1.70% 42.42 Delayed Quote.-28.19%
BOOZ ALLEN HAMILTON HOLDING CORPORATION 2.74% 92.84 Delayed Quote.9.49%
CITIGROUP INC. 1.91% 46.87 Delayed Quote.-22.39%
CRUDE PALM OIL -15.19% 1066.25 End-of-day quote.13.75%
DEERE & COMPANY 0.72% 301.63 Delayed Quote.-12.66%
DEUTSCHE BANK AG -3.19% 8.053 Delayed Quote.-26.91%
FOOT LOCKER, INC. -0.48% 25.13 Delayed Quote.-42.40%
HEALTHPEAK PROPERTIES, INC. 2.59% 26.58 Delayed Quote.-26.35%
LIFE STORAGE, INC. 3.47% 115.54 Delayed Quote.-27.11%
LONDON BRENT OIL 1.74% 111.38 Delayed Quote.43.00%
MORGAN STANLEY 0.91% 76.75 Delayed Quote.-21.81%
NEWCORE GOLD LTD. -3.45% 0.28 Delayed Quote.-46.15%
NORFOLK SOUTHERN CORPORATION 0.55% 228.55 Delayed Quote.-23.65%
ODONATE THERAPEUTICS, INC. -6.88% 1.49 Delayed Quote.10.37%
ORGENESIS INC. -4.96% 2.3 Delayed Quote.-20.14%
PHYSICIANS REALTY TRUST 1.28% 17.44 Delayed Quote.-7.38%
PIPER SANDLER COMPANIES -1.13% 112.08 Delayed Quote.-36.50%
PRIMERICA, INC. 1.67% 121.69 Delayed Quote.-20.60%
PUBLIC STORAGE 1.50% 317.37 Delayed Quote.-15.27%
REGIONAL HEALTH PROPERTIES, INC. 2.57% 2.4 Delayed Quote.-46.78%
REINSURANCE GROUP OF AMERICA, INCORPORATED 1.47% 119.01 Delayed Quote.8.69%
S&P 500 1.06% 3825.33 Real-time Quote.-19.74%
S&P GSCI ALUMINUM INDEX 0.10% 155.2015 Real-time Quote.-12.98%
SOUTHGOBI RESOURCES LTD. 8.33% 0.195 Delayed Quote.2.63%
SPECTRAL MEDICAL INC. -4.17% 0.345 Delayed Quote.56.82%
THE BUCKLE, INC. -0.79% 27.47 Delayed Quote.-34.55%
THOR INDUSTRIES, INC. 2.69% 76.3 Delayed Quote.-26.47%
UNDER ARMOUR, INC. 2.04% 8.5 Delayed Quote.-60.69%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) 2.08% 55.25 Delayed Quote.-27.77%
UWM HOLDINGS CORPORATION 5.08% 3.72 Delayed Quote.-37.16%
WTI 2.10% 108.483 Delayed Quote.40.93%
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