The commission on Tuesday said this is the first such charge against a provider of an order and execution management system. It said Neovest agreed to pay $2.75 million in penalty, though the company didn't admit or deny the SEC's findings.
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Treasury Yields Signal Investors' Waning Economic Exuberance
The recent drop in U.S. Treasury yields reveals some investors' doubts about how strong the economy will be in the coming years, even as inflation pushes to its highest level in more than a decade.
Yields, which fall when bond prices rise, have surprised many by sliding in the second quarter of the year. That marks a reversal from the sharp rise of the year's first three months, when markets generally rode a wave of optimism that stimulus and reopenings would spur a roaring '20s type of acceleration.
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Biden Weighs New Executive Order Restraining Big Business
The Biden administration is developing an executive order directing agencies to strengthen oversight of industries that they perceive to be dominated by a small number of companies, a wide-ranging attempt to rein in big business power across the economy, according to people familiar with the plans.
The executive order, which President Biden could sign as soon as next week, would direct regulators of industries from airlines to agriculture to rethink their rule-making process to inject more competition and to give consumers, workers and suppliers more rights to challenge large producers.
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China's Economy Flashes Hints of Weakness
BEIJING-Expansion in China's factory sector slowed in June, as export demand weakened while supply bottlenecks held back production, official data showed Wednesday.
Equally worrying, China's services sector, a persistent laggard in the country's post-pandemic rebound that Beijing policy makers are eager to see drive more of the economy, softened as recent coronavirus outbreaks again hindered consumer spending.
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Eurozone Inflation Dips in June
Eurozone consumer prices were higher in June compared with a year earlier but rose at a slower pace than in the previous month, the European Union's statistics agency said.
Inflation in the currency area dipped to 1.9% in June from 2.0% in May, in line with that forecast by economists in a Wall Street Journal poll.
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German Jobless Claims Fell More Than Expected in June
German jobless claims fell considerably more than expected in June, the Federal Employment Agency said Wednesday.
Jobless claims fell by 38,000 on the month after declining by a revised figure of 19,000 in May. Economists polled by The Wall Street Journal had forecast a decline of 20,000.
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Biden, in Wisconsin, Touts Job-Creating Potential of Infrastructure Deal
President Biden hailed his infrastructure deal as a job-creating economic boon, while progressive Democrats signaled they would give the president wiggle room on selling the plan, which they want paired with a wide-ranging antipoverty proposal.
Mr. Biden visited a transit station in La Crosse, Wis., offering a detailed rundown of the roughly $1 trillion agreement reached with a bipartisan group of lawmakers to modernize aging roads, bridges and broadband networks, eliminate lead from water pipes and build new charging stations for electric vehicles.
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Supreme Court Declines to Lift National Eviction Moratorium
WASHINGTON-A divided Supreme Court on Tuesday declined to lift a national moratorium on the eviction of tenants who have fallen behind on their rent during the Covid-19 pandemic.
The court rejected an emergency request by landlords and real-estate companies to clear the way for evictions after a federal judge in Washington ruled last month that the moratorium was legally unsupportable. The judge who issued that ruling stayed the effect of the decision, while litigation continues.
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Kim Jong Un Warns of Grave Covid-19 Situation in North Korea
SEOUL-Kim Jong Un said North Korea's Covid-19 situation has become grave and admonished senior officials for lapses in the fight against the disease.
Mr. Kim, speaking at a Politburo meeting, didn't specify what had gone wrong. North Korea has reported zero Covid-19 cases and tested more than 31,000 individuals, according to the World Health Organization's latest figures.
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California's Drought Leads to Cutbacks in Marin County but Not in San Diego
SAN DIEGO-At the southern end of California, residents have been assured their water supplies are secure and plentiful despite the state's severe drought.
In Marin County, 500 miles north, lawn sprinklers are allowed only two days a week, washing a car at home is banned, and decorative fountains can't be refilled. The orders are part of an effort by the local water district to cut usage by 40% after a precipitous fall in the local reservoirs.
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Schools Weigh Discipline After Supreme Court Ruling on Student Speech
Mondays are usually when Bill Ziegler hears about the latest drama unfolding at the suburban Philadelphia high school where he is a principal. That is when social-media posts uploaded by students over the weekend spill into chatter on campus and have the potential to snowball into a disruptive force.
Dr. Ziegler's training and 14 years as a principal instruct him to intervene when social-media posts become a hindrance to educational activity. He would meet with the students involved and investigate the claims, including what was posted, where, and whether online comments were created on a school device. He sometimes takes disciplinary action.
Read More ->
Write to sarka.halas@wsj.com
TODAY IN CANADA
Earnings:
AGF Mgmt Ltd (AGF.B.T) 2Q
Shaw Commun (SJR*A.T) 3Q
Shaw Commun (SJR.B.T) 3Q
Economic Indicators (ET):
0830 May Industrial product & raw materials price indexes
0830 Apr GDP
Stocks to Watch:
No items published
Other News:
No items published
Market Talk:
No items published
Expected Major Events for Wednesday
01:00/JPN: May Steel Imports & Exports Statistics
04:30/JPN: May Preliminary Report on Petroleum Statistics
05:00/JPN: May Housing Starts
05:00/JPN: May Construction Orders
05:00/JPN: Jun Consumer Confidence Survey
06:00/UK: 1Q Balance of Payments
06:00/UK: 1Q UK quarterly national accounts
06:45/FRA: May Household consumption expenditure in manufactured goods
06:45/FRA: May PPI
06:45/FRA: Jun Provisional CPI
07:55/GER: Jun Labour market statistics (incl unemployment)
08:00/ITA: May PPI
08:30/UK: 1Q Business investment revised results
09:00/ITA: Jun Provisional CPI
09:00/ITA: Jun Cities CPI
11:00/US: 06/25 MBA Weekly Mortgage Applications Survey
12:15/US: Jun ADP National Employment Report
12:30/CAN: May Industrial product & raw materials price indexes
12:30/US: Annual U.S. International Investment Position
12:30/CAN: Apr GDP
13:45/US: Jun Chicago Business Barometer - ISM-Chicago Business Survey - Chicago PMI
14:00/US: May Pending Home Sales Index
14:00/US: May Metropolitan Area Employment & Unemployment
14:30/US: 06/25 EIA Weekly Petroleum Status Report
19:00/US: May Agricultural Prices
23:50/JPN: 2Q Tankan Survey of Enterprises in Japan
All times in GMT. Powered by Kantar Media and Dow Jones.
Expected Earnings for Wednesday
AEterna Zentaris Inc (AEZS,AEZS.T) is expected to report for 1Q.
AGF Management Ltd - Class B (AGF.B.T) is expected to report $0.12 for 2Q.
Byrna Technologies Inc (BYRN,BYRN.L) is expected to report for 2Q.
Community Bank System (CBU) is expected to report $0.81 for 2Q.
Constellation Brands (STZ,STZB) is expected to report $2.08 for 1Q.
Decibel Therapeutics Inc (DBTX) is expected to report for 1Q.
Franklin Covey Co (FC) is expected to report $-0.07 for 3Q.
General Mills (GIS) is expected to report $0.84 for 4Q.
Genesis Healthcare Inc (GENN) is expected to report $-0.33 for 1Q.
Healthier Choices Management Corp (HCMC) is expected to report for 1Q.
KalVista Pharmaceuticals Inc (KALV) is expected to report $-0.61 for 4Q.
Micron Technology (MU) is expected to report $1.54 for 3Q.
National Beverage Corp (FIZZ) is expected to report $0.42 for 4Q.
Schnitzer Steel Industries Inc (SCHN) is expected to report $0.58 for 3Q.
Shaw Communications Inc - Class B (SJR,SJR.A.V,SJR.B.T) is expected to report $0.33 for 3Q.
UniFirst Corp (UNF) is expected to report $1.89 for 3Q.
Powered by Kantar Media and Dow Jones.
ANALYST RATINGS ACTIONS
Antero Resources Inc. Raised to Buy From Hold by TD Securities
Antero Resources Raised to Buy From Hold by TD Securities
Berkeley Lights Cut to Sector Weight From Overweight by Keybanc
Carvana Cut to Neutral From Overweight by Piper Sandler
CSX Corp Raised to Buy From Neutral by Citigroup
Fortinet Cut to Neutral From Buy by Monness, Crespi, Hardt
Fox Corp. Cut to Neutral From Buy by Guggenheim
Kansas City Southern Cut to Neutral From Buy by Citigroup
Smart Sand Raised to In-Line From Underperform by Evercore ISI Group
Textron Raised to Overweight From Equal-Weight by Morgan Stanley
Two Harbors Cut to Neutral From Outperform by Credit Suisse
Ultragenyx Pharma Raised to Buy From Neutral by B of A Securities
This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
06-30-21 0608ET
