Joblessness in China rose for the third straight month, according to new data published Monday. At 5.3%, the official jobless rate is back to where it was in July after increases in December and January reversed almost half a year of steady progress.
Gold Miners, Enjoying Record Prices, Are Wary of Hedging Their Bets
Record-high gold prices are driving big deals and investments in new mines. What they aren't doing is making companies hurry to lock in prices as protection against the market suddenly turning down.
Hedging-a practice that helps to guarantee a certain price for future output-is common among producers of commodities ranging from copper to natural gas. But it has been eschewed by the gold-mining industry after companies got caught on the wrong side of trades made during previous bull runs by the precious metal. In 2009, Canadian giant Barrick Gold bought out unprofitable hedges at a cost of more than $5 billion.
How China Could Swamp India's Chip Ambitions
When India's largest conglomerate, Tata Group, broke ground on a $11 billion semiconductor factory this week, Prime Minister Narendra Modi said the country was poised to become a world leader in the sector.
He might be in for a rude awakening.
Trump Economic Advisers Float Three Names for Fed Chair
WASHINGTON-Influential economic advisers to Donald Trump presented the former president with a shortlist of potential candidates to lead the Federal Reserve during a meeting at his Mar-a-Lago club in Florida last week, according to people familiar with the matter.
In the Thursday meeting, Steve Moore and Arthur Laffer, who have long advised Trump on economic issues, recommended three candidates: Kevin Warsh, an economic-policy adviser to President George W. Bush who later served on the Fed's board of governors; Kevin Hassett, a former chairman of the Council of Economic Advisers during the Trump administration, and Laffer himself. Laffer, an economic adviser to former President Ronald Reagan, is one of the founding theorists of supply-side economics and a champion of the 2017 tax cuts Trump signed into law.
Pakistan Carries Out Airstrikes Inside Afghanistan
ISLAMABAD, Pakistan-Pakistan carried out airstrikes Monday inside neighboring Afghanistan, the Taliban administration in Kabul said, following a weekend of attacks inside Pakistan which the authorities blame on militants based across the border.
A Pakistani security official said that Pakistan's air force hit seven hide-outs of Tehreek-e-Taliban Pakistan in at least three provinces in Afghanistan. Over a dozen airstrikes were carried out, according to the Pakistani official.
Write to paul.larkins@dowjones.com TODAY IN CANADA
Earnings [4Q unless stated otherwise]:
ADENTRA
Ascot Resources
Titanium Transportation
Economic Calendar (ET):
0830 Feb Industrial, Raw Material Prices
Stocks to Watch:
Nuvei Responds to Recent Media Reports of Potential Going-Private Transaction; Board Formed Special Committee to Evaluate Expressions of Interest and Any Other Strategic Alternatives That May Be Available; In Talks With Certain Third Parties Related to Potential Deal Involving Continued Significant Ownership by Certain Holders of Multiple Voting Shares, Including Founder Phil Fayer; Haven't Entered Into Any Agreements or Understandings to Effect a Privatization or Similar Transaction; There Can Be No Assurance That Discussions Will Result in Any Such Agreements or Understandings
Expected Major Events for Monday
00:01/UK: Mar Rightmove House Price Index
04:30/JPN: Jan Revised Retail Sales
09:30/UK: Dec Card Spending statistics
12:30/CAN: Feb Industrial product and raw materials price indexes
14:00/US: Mar NAHB Housing Market Index
14:00/US: 4Q Quarterly Financial Report - Retail Trade
14:00/US: 4Q Quarterly Financial Report - Industry
All times in GMT. Powered by Kantar Media and Dow Jones.
Expected Earnings for Monday
ADENTRA is expected to report for 4Q.
Alpine Immune Sciences Inc (ALPN) is expected to report $-0.33 for 4Q.
Athenex Inc (ATNXQ) is expected to report for 4Q.
Coda Octopus Group Inc (CODA) is expected to report for 1Q.
Comtech Telecommunications Corp (CMTL) is expected to report $-0.10 for 2Q.
Contango ORE Inc (CTGO) is expected to report for 2Q.
Cue Biopharma Inc (CUE) is expected to report $-0.28 for 4Q.
Eagle Pharmaceuticals Inc (EGRX) is expected to report $0.21 for 4Q.
Exagen Inc (XGN) is expected to report $-0.44 for 4Q.
Eyenovia Inc (EYEN) is expected to report $-0.15 for 4Q.
FreightCar America (RAIL) is expected to report $0.02 for 4Q.
Gaia Inc (GAIA) is expected to report $-0.02 for 4Q.
Intrusion Inc (INTZ) is expected to report for 4Q.
LadRx Corp (LADX) is expected to report for 4Q.
Li-Cycle Holdings Corp (LICY) is expected to report $-0.19 for 4Q.
Lightning eMotors Inc (ZEVY) is expected to report for 4Q.
NGM Biopharmaceuticals Inc (NGM) is expected to report $-0.31 for 4Q.
National CineMedia Inc (NCMI) is expected to report for 4Q.
NeuBase Therapeutics Inc (NBSE) is expected to report for 1Q.
New Concept Energy (GBR) is expected to report for 4Q.
Oblong Inc (OBLG) is expected to report for 4Q.
Omeros Corp (OMER) is expected to report $-0.56 for 4Q.
Psychemedics Corp (PMD) is expected to report for 4Q.
RF Industries (RFIL) is expected to report $-0.13 for 1Q.
Scholar Rock Holding Corp (SRRK) is expected to report $-0.49 for 4Q.
Science 37 Holdings Inc (SNCE) is expected to report for 4Q.
Science Applications International Corp (SAIC) is expected to report $1.15 for 4Q.
Serinus Energy PLC is expected to report for Full year.
Sierra Metals (SMT.T,SMTS) is expected to report for 4Q.
Singular Genomics Systems Inc (OMIC) is expected to report $-0.32 for 4Q.
Soleno Therapeutics Inc (SLNO) is expected to report for 4Q.
Stoke Therapeutics Inc (STOK) is expected to report $-0.61 for 4Q.
System1 Inc (SST) is expected to report for 4Q.
Tonix Pharmaceuticals Holding Corp (TNXP) is expected to report $-1.59 for 4Q.
Uranium Energy Corp (UEC) is expected to report for 2Q.
VBI Vaccines Inc (VBIV) is expected to report for 4Q.
dLocal Ltd (DLO) is expected to report $0.16 for 4Q.
Powered by Kantar Media and Dow Jones.
ANALYST RATINGS ACTIONS
Berry Global Group Cut to Sector Perform From Outperform by RBC Capital
Cardlytics Raised to Buy From Hold by Craig-Hallum
Cummins Raised to Buy From Neutral by UBS
Discover Financial Cut to Neutral From Buy by Seaport Global
Dollar General Raised to Outperform From Market Perform by Telsey Advisory Group
DoorDash Raised to Neutral From Underweight by Piper Sandler
EverCommerce Cut to Underweight From Neutral by JP Morgan
HF Sinclair Raised to Buy From Neutral by B of A Securities
Immuneering Cut to Hold From Buy by Jefferies
Immuneering Cut to Market Perform From Outperform by TD Cowen
Madrigal Pharmaceuticals Raised to Neutral From Sell by B. Riley Securities
Markel Cut to Neutral From Buy by Janney Montgomery Scott
nCino Raised to Equal-Weight From Underweight by Morgan Stanley
Oportun Financial Cut to Market Perform From Market Outperform by JMP Securities
Paccar Raised to Buy From Neutral by UBS
PBF Energy Raised to Buy From Neutral by B of A Securities
Republic Services Cut to Equal-Weight From Overweight by Morgan Stanley
Rivian Automotive Raised to Overweight From Neutral by Piper Sandler
Snowflake Raised to Neutral From Sell by Guggenheim
Southern States Bancshs Raised to Outperform From Market Perform by Keefe, Bruyette & Woods
Thor Industries Raised to Buy From Neutral by Citigroup
Valero Energy 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
03-18-24 0614ET
