More than 1,000 officers and directors at more than 600 companies bought their own stock in March. That is the highest number on an individual and company basis since last May, according to the Washington Service, an insider-trading data analytics provider. The ratio of insider buying to selling last month swelled to the highest level since September, the firm found.
Kevin McCarthy, House GOP Debt-Limit Plan Face Crucial Test This Week
WASHINGTON-Speaker Kevin McCarthy and House Republicans face a crucial test this week as they scramble to unite their factious party around a bill that would slash government spending in exchange for raising the nation's borrowing limit.
With the health of both the economy and his speakership potentially on the line in the debt-limit fight, Mr. McCarthy and his allies have begun the process of wrangling the 218 votes needed for passage of their plan. In the narrowly divided 222-213 House, Republicans can afford no more than four defections, if all Democrats vote no, as expected.
Amazon, Facebook, Google Headline Busy Earnings Week for Tech
Technology companies including Google parent Alphabet Inc. and Amazon.com Inc. as well as stalwarts from the food, pharmaceutical and energy sectors, highlight a busy earnings week amid concerns about the U.S. economy.
The coming reports will provide clues to investors about how companies fared in the first quarter of 2023 as the recent banking crisis, continuing layoffs in sectors such as technology, and inflation weighed on the economy.
BOJ Gov Ueda: Will Continue Monetary Easing for Now, With Inflation to Start Slowing Down Soon
TOKYO-Bank of Japan Gov. Kazuo Ueda said Monday that he would continue monetary easing for the time being because he expects inflation to start slowing down soon.
"Trend inflation is still below 2% so we need to continue monetary easing," Mr. Ueda told a parliamentary committee. He said inflation would likely fall below the central bank's 2% target in the latter half of this fiscal year ending March 2024.
Iran Ships Ammunition to Russia by Caspian Sea to Aid Invasion of Ukraine
Russian ships are ferrying large quantities of Iranian artillery shells and other ammunition across the Caspian Sea to resupply troops fighting in Ukraine, Middle East officials said, posing a growing challenge for the U.S. and its allies as they try to disrupt cooperation between Moscow and Tehran.
Over the past six months, cargo ships have carried more than 300,000 artillery shells and a million rounds of ammunition from Iran to Russia, according to the officials and documents viewed by The Wall Street Journal. Intelligence about the shipments has been shared with the U.S., people familiar with the matter said.
China's Ambassador to France Says Ex-Soviet States Lack Basis for Sovereignty
France and countries across Eastern Europe condemned remarks by China's ambassador in Paris claiming that post-Soviet states lack a firm basis for their sovereignty under international law.
Ambassador Lu Shaye made the comments during an interview late Friday on French TV, in which he was asked whether he considered the peninsula of Crimea, which was annexed by Russia in 2014, part of Ukraine under international law.
China Detained Communist Party Newspaper Editor After Meeting With Japanese Diplomat Last Year
SINGAPORE-A veteran Chinese journalist faces spying charges over his interactions with diplomatic and academic contacts from Japan and the U.S., his family said in their first public comments on the case, more than a year after authorities in Beijing detained him.
Dong Yuyu, a senior editorial writer and editor at a leading Communist Party newspaper, was taken into custody in February last year, along with a Japanese diplomat who he was meeting at a restaurant in central Beijing, according to a statement issued by Mr. Dong's family on Monday.
Swift Evacuation of U.S. Staff From Sudan Prompts Questions
The U.S. and other governments moved swiftly over the weekend to evacuate embassy staff from Sudan, where a battle for power between the country's top two generals has now left millions of residents with the difficult choice of whether to try to sit out the clashes at home or attempt a risky escape.
The rapid descent of the east African country-and especially its capital, Khartoum-into all-out war appeared to surprise many embassies, including the U.S. mission, which didn't issue advisories for American citizens to leave the country before the fighting started on April 15.
Ukraine Gears Up to Hit Russians-and Show West It Can Win
KYIV, Ukraine-Ukraine's armed forces are preparing for one of the most daunting undertakings any military can attempt: dislodging an entrenched enemy.
Kyiv's forces achieved that last fall, but haven't advanced since. Now their challenge in attacking dug-in Russian forces is even greater because, given the pace of Western arms shipments, its troops are less well-armed than their leaders would like.
Florida Gov. Ron DeSantis Begins World Tour in Japan, Plays Down 2024 Bid
TOKYO-Florida Gov. Ron DeSantis said he wasn't a candidate for president, but he got a welcome worthy of an American political VIP Monday in Japan, his first stop on an around-the-world tour.
Striding into the prime minister's office holding the hand of his wife, Casey, Mr. DeSantis held a roughly 40-minute meeting with Prime Minister Fumio Kishida. He said they discussed North Korean leader Kim Jong Un's provocations and the Chinese Communist Party-the sort of issues presidents worry about.
Write to ina.kreutz@wsj.com TODAY IN CANADA
Earnings:
Canadian National Railway 1Q
Economic Calendar (ET):
0830 Mar New Housing Price Index
Stocks to Watch:
National Bank of Canada: Annick Guérard and Pierre Pomerleau Join the Board of Directors
Expected Major Events for Monday
08:00/GER: Apr Ifo Business Climate Index
12:30/CAN: Mar New Housing Price Index
12:30/US: Mar Chicago Fed National Activity Index (CFNAI)
14:30/US: Apr Texas Manufacturing Outlook Survey
23:50/JPN: Mar Services Producer Price Index
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Expected Earnings for Monday
Alexandria Real Estate Equities Inc (ARE) is expected to report $0.55 for 1Q.
Bank Of Marin Bancorp (BMRC) is expected to report $0.66 for 1Q.
Bank of Hawaii Corp (BOH) is expected to report $1.21 for 1Q.
Brown & Brown (BRO) is expected to report $0.81 for 1Q.
Cadence Bank (CADE) is expected to report for 1Q.
Capital City Bank Group (CCBG) is expected to report $0.75 for 1Q.
Carter Bankshares Inc (CARE) is expected to report for 1Q.
Citizens Community Bancorp (CZWI) is expected to report $0.38 for 1Q.
Cleveland-Cliffs Inc (CLF) is expected to report $-0.15 for 1Q.
Coca-Cola Co (KO) is expected to report $0.64 for 1Q.
Crown Holdings (CCK) is expected to report $0.89 for 1Q.
DATATRAK International Inc (DTRK) is expected to report for 4Q.
Dynex Capital (DX) is expected to report for 1Q.
EQ Inc (EQ.V) is expected to report for 4Q.
Esquire Financial Holdings Inc (ESQ) is expected to report $1.08 for 1Q.
F45 Training Holdings Inc (FXLV) is expected to report for 4Q.
First Republic Bank (FRC) is expected to report $0.95 for 1Q.
Garrett Motion Inc (GTX) is expected to report $0.21 for 1Q.
Hexcel Corp (HXL) is expected to report $0.38 for 1Q.
HomeStreet Inc (HMST) is expected to report $0.40 for 1Q.
Hope Bancorp Inc (HOPE) is expected to report $0.37 for 1Q.
Independent Bank Group (IBTX) is expected to report $1.10 for 1Q.
KKR Real Estate Finance Trust Inc (KREF) is expected to report $0.31 for 1Q.
Medpace Holdings Inc (MEDP) is expected to report $1.82 for 1Q.
NBT Bancorp (NBTB) is expected to report $0.85 for 1Q.
Northwest Bancshares Inc (NWBI) is expected to report $0.27 for 1Q.
Norwood Financial Corp (NWFL) is expected to report for 1Q.
Orrstown Financial Services Inc (ORRF) is expected to report $0.84 for 1Q.
Packaging Corporation of America (PKG) is expected to report $2.26 for 1Q.
Parke Bancorp Inc (PKBK) is expected to report for 1Q.
Peoples Bancorp of NC (PEBK) is expected to report for 1Q.
Perma-Pipe International Holdings Inc (PPIH) is expected to report for 4Q.
PotlatchDeltic Corp (PCH) is expected to report $0.07 for 1Q.
Sierra Bancorp (BSRR) is expected to report $0.64 for 1Q.
Sigmatron International Inc (SGMA) is expected to report for 3Q.
SmartFinancial Inc (SMBK) is expected to report $0.61 for 1Q.
Southern First Bancshares Inc (SFST) is expected to report $0.64 for 1Q.
Trustco Bank Corp (TRST) is expected to report for 1Q.
WSFS Financial (WSFS) is expected to report $1.28 for 1Q.
Washington Trust Bancorp Inc (WASH) is expected to report $0.90 for 1Q.
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ANALYST RATINGS ACTIONS
Alteryx Raised to Buy From Hold by Loop Capital
Arbor Realty Trust Cut to Neutral From Overweight by JP Morgan
Big Lots Cut to Underweight From Neutral by Piper Sandler
Clearwater Paper Raised to Outperform From Sector Perform by RBC Capital
Correction to Magellan Midstream Ratings
Dollar General Raised to Buy From Hold by Argus Research
Everbridge Cut to Equal-Weight From Overweight by Stephens & Co.
Heritage Financial Cut to Market Perform From Outperform by Keefe, Bruyette & Woods
MBIA Raised to Buy From Neutral by Compass Point
Onconova Therapeutics Raised to Buy From Neutral by HC Wainwright & Co.
Overstock.com Cut to Neutral From Overweight by Piper Sandler
Plains GP Holdings Raised to Strong Buy From Outperform by Raymond James
Pool Corp Raised to Overweight From Equal-Weight by Stephens & Co.
PPG Industries Raised to Overweight From Neutral by JP Morgan
Snap-On Raised to Neutral From Underperform by Longbow Research
Tesla Cut to Hold From Buy by Truist Securities
XPO Logistics Raised to Overweight From Neutral by JP Morgan
(MORE TO FOLLOW) Dow Jones Newswires
04-24-23 0617ET
