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
