Many are driven in part by China's slowing economy and toughened regulatory environment as well as the uncertainty of the zero-Covid policy, which in recent days sparked one of the largest nationwide protests that China has seen in decades. Others are inspired by the enormous global success of companies like TikTok owner ByteDance Ltd. and fast-fashion retailer Shein.
Biden Calls on Congress to Pass Legislation to Avert Rail Shutdown
WASHINGTON-President Biden called on Congress to pass legislation that would avert a rail shutdown by imposing a proposed contract that members at four railroad unions had rejected.
The move would cut short a long-running labor dispute between the country's biggest freight railroads and more than 115,000 workers that threatens to hurt the economy and disrupt the flow of goods as soon as next week.
Supreme Court Considers Challenge to Biden Policy Curbing Immigration Arrests
WASHINGTON-The Supreme Court on Tuesday will consider the executive branch's power to set priorities in enforcing immigration law, in a case that also tests the legal standing of states to bring their policy differences with Washington to court.
Last year, Texas and Louisiana sued to invalidate enforcement guidelines, issued by Homeland Security Secretary Alejandro Mayorkas, that prioritize the deportation of those immigrants illegally in the country who pose an imminent threat to national security or public safety. That approach replaced Trump-era policies that sought to have immigration officers remove any noncitizen present illegally.
U.S., Iran Face Off in World Cup Amid Growing Political Hostility
As the U.S. and Iran prepare to face off in a must-win match at the soccer World Cup in Qatar on Tuesday, tensions off the field have raised the stakes in what is turning out to be one of the most politically charged games in the tournament's recent history.
Iran has already called foul after the U.S. Soccer Federation posted a small graphic of the World Cup standings on its Instagram account in which the emblem in the center of the Islamic Republic's flag had been removed. The federation said the move was to show solidarity with a monthslong human-rights movement sweeping across Iran, but it later deleted the post. A State Department spokesperson said that the agency wasn't involved in either decision.
Ukraine War's Economic Ripples Sow Discord Between Washington, Allies
WASHINGTON-Trans-Atlantic ties are starting to fray as French President Emmanuel Macron and other European leaders chafe at new U.S. policies they say compound economic woes fueled by the war in Ukraine and the resulting energy crisis.
Russia's war in Ukraine has reinvigorated the North Atlantic Treaty Organization and ignited a boom in trade and investment between the U.S. and Europe. But after nearly a year of unity as the U.S. and its allies confronted the fallout from Russian President Vladimir Putin's invasion of Ukraine, European officials are starting to express frustration at their increasing reliance on Washington for security and economic stability.
Mike Pence Says Donald Trump Should Apologize for Dinner With Nick Fuentes, Kanye West
WASHINGTON-Donald Trump should apologize for having dinner with white nationalist Nick Fuentes and Kanye West, former Vice President Mike Pence said, adding to fellow Republicans' criticism of the meeting just as Mr. Trump is attempting to ramp up a third presidential bid.
"President Trump was wrong to give a white nationalist, an anti-Semite and a Holocaust denier a seat at the table, and I think he should apologize for it," Mr. Pence said Monday in an interview with NewsNation. "He should denounce those individuals and their hateful rhetoric without qualification."
Write to paul.larkins@dowjones.com TODAY IN CANADA
Earnings:
Bank of Nova Scotia 4Q
Shaw Communications 4Q
Economic Indicators (ET):
0830 Sep GDP
0830 3Q Quarterly GDP
Stocks to Watch:
Organigram FY22 Rev C$145.8M Vs. C$79.2M; Expects Fiscal 2023 Rev to Be Higher on Yr Amid Solid Sales Momentum, Stronger Forecasted Market Growth
Expected Major Events for Tuesday
00:30/JPN: Oct Detailed Import & Export Statistics
09:00/ITA: Sep Industrial turnover & orders
09:00/GER: Nov Bavaria CPI
09:00/GER: Nov Hesse CPI
09:00/GER: Nov Baden-Wuerttemberg CPI
09:00/GER: Nov Brandenburg CPI
09:30/GER: Nov North Rhine Westphalia CPI
09:30/UK: Oct Money and Credit - Lending to Individuals, Lending to Businesses, Broad Money and Credit
09:30/UK: Oct Monetary & Financial Statistics
09:30/UK: Oct Bank of England effective interest rates
10:00/ITA: Oct PPI
10:00/GER: Nov Saxony CPI
13:00/GER: Nov Provisional CPI
13:30/CAN: Sep GDP
13:30/CAN: 3Q Quarterly GDP
13:55/US: 11/26 Johnson Redbook Retail Sales Index
14:00/US: 3Q U.S. Quarterly House Price Index
14:00/US: Sep U.S. Monthly House Price Index
14:00/US: Sep S&P CoreLogic Case-Shiller Indices
15:00/US: Nov Consumer Confidence Index
21:30/US: 11/25 API Weekly Statistical Bulletin
23:50/JPN: Oct Preliminary Industrial Production
All times in GMT. Powered by Onclusive and Dow Jones.
Expected Earnings for Tuesday
Bank of Nova Scotia (BNS,BNS.T) is expected to report $2.00 for 4Q.
California First Leasing Corp (CFNB) is expected to report for 1Q.
Cenntro Electric Group Ltd (CENN) is expected to report for 3Q.
Cerence Inc (CRNC) is expected to report for 4Q.
Citi Trends Inc (CTRN) is expected to report $0.43 for 3Q.
Compass Minerals International Inc (CMP) is expected to report $-0.27 for 4Q.
CrowdStrike Holdings Inc (CRWD) is expected to report for 3Q.
Emcore (EMKR) is expected to report $-0.20 for 4Q.
Exco Technologies (XTC.T) is expected to report $0.29 for 4Q.
FTI Consulting (FCN) is expected to report $1.32 for 4Q.
Hewlett Packard Enterprise Co (HPE) is expected to report $0.37 for 4Q.
Hibbett Inc (HIBB) is expected to report $2.50 for 3Q.
Intuit Inc (INTU) is expected to report $-0.40 for 1Q.
NetApp Inc (NTAP) is expected to report $1.05 for 2Q.
Orvana Minerals (ORV.T,ORVMF) is expected to report for 4Q.
Qualstar Corp (QBAK) is expected to report for 3Q.
Shaw Communications Inc - Class B (SJR,SJR.A.V,SJR.B.T) is expected to report $0.33 for 4Q.
Smart Share Global Ltd - ADR (EM) is expected to report for 3Q.
Webco Industries Inc (WEBC) is expected to report for 1Q.
Workday Inc (WDAY) is expected to report $-0.36 for 3Q.
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ANALYST RATINGS ACTIONS
Activision Blizzard Raised to Buy From Hold by Truist Securities
Activision Blizzard Raised to Overweight From Equal-Weight by Morgan Stanley
Activision Blizzard Raised to Overweight From Equal-Weight by Wells Fargo
Affiliated Managers Raised to Buy From Hold by Jefferies
Amazon Is a Top Stock Pick for Next Year, Says J.P. Morgan -- Barrons.com
Applovin Cut to Equal-Weight From Overweight by Morgan Stanley
Aptiv Cut to Equal-Weight From Overweight by Morgan Stanley
Beyond Meat Cut to Underweight From Equal-Weight by Barclays
BorgWarner Raised to Equal-Weight From Underweight by Morgan Stanley
Cloudflare Raised to Neutral From Underweight by JP Morgan
Coherent Raised to Buy From Hold by Deutsche Bank
Diamondback Energy Cut to Underperform From Neutral by B of A Securities
DraftKings Cut to Underweight From Neutral by JP Morgan
First Solar Cut to Neutral From Overweight by JP Morgan
Imago BioSciences Cut to Hold From Buy by Stifel
Live Nation Raised to Buy From Neutral by Citigroup
Penn National Gaming Cut to Neutral From Overweight by JP Morgan
PerkinElmer Raised to Equal-Weight From Underweight by Barclays
SciPlay Cut to Hold From Buy by Truist Securities
Shutterstock Cut to Market Perform From Market Outperform by JMP Securities
TransDigm Cut to Equal-Weight From Overweight by Wells Fargo
Twilio Cut to Hold From Buy by Jefferies
Tyson Foods Cut to Underweight From Equal-Weight by Barclays
Williams-Sonoma Cut to Underweight From Equal-Weight by Morgan Stanley
Wynn Resorts Raised to Overweight From Neutral by JP Morgan
This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
11-29-22 0601ET
