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North American Morning Briefing: Stock Futures -2-

Digital Core REIT, a unit of the U.S.-listed company, is planning to sell up to 267 million units at a fixed offer price of US$0.88 per unit, according to a term sheet seen by The Wall Street Journal.


Hertz-Tesla Deal Signals Broad Shift to EVs for Rental-Car Companies

Car-rental customers could soon see more electric-vehicle options on airport lots and other places where they are looking to reserve a ride.

The rental-car industry, long a big bulk-purchaser of new models in the car business, is sharpening efforts to add more battery-powered vehicles to fleets, the latest in a broader global shift among companies embracing greener technologies to cut their greenhouse-gas emissions.


Omicron Variant Is Reported in More Countries as Officials Grapple With How to Respond

Countries around the world reported their first cases of the Omicron variant over the weekend and some imposed new travel restrictions, racing to protect themselves against the potentially more contagious strain even as scientists cautioned they don't yet know how severe it will prove to be.

Canada, Australia, the Netherlands and Austria on Sunday joined a group of countries that have detected a strain first documented in South Africa that authorities said could pose a greater risk of people falling ill with Covid-19 a second time and could be more transmissible than other variants.


Labor Talks to Start in 2022 at Congested West Coast Ports

U.S. shippers struggling with supply-chain gridlock on the West Coast face new concerns in the coming year as dockworkers and marine terminals gird for talks on a new labor contract.


Eurozone Economic Sentiment Declines in November

Confidence among businesses and households in the eurozone fell in November amid rising inflation, supply-chain constraints and a surge of coronavirus cases.

The European Commission said Monday that its economic sentiment indicator, an aggregate measure of business and consumer confidence, fell to 117.5 in November from 118.6 in October. The result was in line with the forecast from economists polled by The Wall Street Journal.


Eurozone Inflation Likely Hit Record High in November

Consumer-price inflation in the eurozone likely hit a record high in November, but many economists think that might mark a peak for now, and therefore don't expect the European Central Bank to raise its key interest rate next year.

As in the U.S., consumer prices in the eurozone have risen faster over recent months than most economists and policy makers had expected. The data have raised questions for investors, businesses and households about the credibility of central bank assertions that this period of high inflation is likely to prove transitory.


Buyout Boom Gains Steam in Record Year for Private Equity

Big leveraged buyouts are back, and this year's crop might just be a taste of things to come.

Private-equity firms have announced a record $944.4 billion worth of buyouts in the U.S. so far this year, 2.5 times the volume in the same period last year and more than double that of the previous peak in 2007, according to Dealogic. So far this year, there have been five $10 billion-plus deals in the U.S., equaling the total in all of 2007, though still below the high-water mark of nine in 2006.


Black Friday Brought Shoppers Back to Stores

U.S. shoppers spent more time and money at bricks-and-mortar stores over the Thanksgiving holiday weekend than the same period last year, though foot traffic remained below pre-pandemic levels.

The rebound marks a reversal from 2020 when the pandemic accelerated a yearslong shift of holiday spending occurring online at the expense of in-store shopping. It also shows retailers were able to secure spending on the key Black Friday selling day, analysts say, even though discounts weren't as prevalent this year and they spent weeks nudging customers to shop earlier in the season.


Black Friday Rout Shows Dangers of Margin Borrowing

Friday's global retreat from riskier assets exposes a vulnerability of the broad market advance of the past year and a half: the rising use of leverage, or borrowed money.

Traders said the Black Friday rout, which hammered stocks and energy prices from France to India to the U.S., doesn't necessarily presage a broader pullback unless further bad news about the new variant of Covid-19 comes to light. But the reversal underscores the fragility of the rebound from the March 2020 lows, which ranks as the fastest return to record highs following a decline of at least 20% from a previous peak.


The Evergrande Blueprint Worked for Other Chinese Developers, Until It Didn't

China's property boom has spawned numerous developers that, like industry giant China Evergrande Group, borrowed heavily to fund breakneck growth.

Now they are inflicting unprecedented losses on international investors as credit grows scarce and sales of new homes decline. Investors have dumped their bonds, setting off alarms over the companies' finances.


Omicron Variant Not Detected Yet, but Likely Already in U.S., Health Officials Say

Top U.S. health officials said Sunday that the newly discovered Omicron variant of the coronavirus is likely already in the U.S. even though it hasn't been detected yet and urged Americans to take precautions while scientists study its potential impact.

"If and when, and it's gonna be when, it comes here, hopefully we will be ready for it," said Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, in an interview on ABC on Sunday. He said that includes getting more people vaccinated and boosted and making sure people follow mask-wearing guidelines.


Japan to Bar Entry of Foreigners in Response to Omicron Variant

TOKYO-Japan will bar newly entering foreigners such as business travelers from entering the country starting Tuesday, in response to the Omicron coronavirus variant.

Japanese citizens and foreign residents of Japan who are returning from trips abroad will still be allowed to enter the country, the government said Monday.


Organized Retail Thefts Continue Over Thanksgiving Weekend

A string of organized retail thefts continued over Thanksgiving weekend, with a Best Buy in Minneapolis becoming the latest victim of a nationwide wave.

Over the past two weeks, stores have been targeted by groups of people who smash windows, take merchandise and often resell stolen goods online through fencing networks, according to officials.


Iran's Nuclear Advances Weigh on Renewed Talks

As negotiators gather in Vienna for talks aimed at reviving an international nuclear agreement with Iran, one big question looms: Has Tehran advanced its nuclear work so much in the past two years that the 2015 deal can no longer be rescued?

Restoring the pact, which placed limits on Iran's nuclear activities in exchange for relief from economic sanctions, is a top foreign-policy goal of the Biden administration. Iran's new president, however, has delayed restarting talks while pressing ahead with nuclear work.




None scheduled

Economic Indicators (ET):

0830 3Q Balance of Payments

0830 Oct Industrial Prices, Raw Materials


Expected Major Events for Monday

00:01/UK: Oct Zoopla House Price Index

01:00/JPN: Oct Steel Imports & Exports Statistics

09:00/ITA: Oct PPI

09:00/GER: Nov Bavaria CPI

09:00/GER: Nov Hesse CPI

09:00/GER: Nov Baden-Wuerttemberg 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/GER: Nov Saxony CPI

13:00/GER: Nov Provisional CPI

13:30/CAN: 3Q Balance of Payments

13:30/CAN: Oct Industrial product & raw materials price indexes

15:00/US: Oct Pending Home Sales Index

15:30/US: Nov Texas Manufacturing Outlook Survey

23:30/JPN: Oct Labour Force Survey

23:50/JPN: Oct Preliminary Industrial Production

All times in GMT. Powered by Kantar Media and Dow Jones.


Expected Earnings for Monday

Citius Pharmaceuticals Inc (CTXR) is expected to report $-0.03 for 4Q.

Electrovaya (EFL.T) is expected to report for 4Q.

Golub Capital BDC (GBDC) is expected to report $0.29 for 4Q.

Korn Ferry (KFY) is expected to report $1.36 for 2Q.

Malvern Bancorp Inc (MLVF) is expected to report $0.25 for 4Q.

Mullen Automotive Inc. (MULN) is expected to report for 3Q.

Oncotelic Therapeutics Inc (OTLC) is expected to report for 3Q.

Serinus Energy PLC (SEN-WA,SENX.LN) is expected to report for 3Q.

StoneX Group Inc (SNEX) is expected to report for 4Q.

Three Valley Copper Corp (TVC.V) is expected to report for 3Q.

United States Antimony (UAMY) is expected to report for 3Q.

Powered by Kantar Media and Dow Jones.



There are no actions to report since Friday.

This article is a text version of a Wall Street Journal newsletter published earlier today.


(END) Dow Jones Newswires

November 29, 2021 05:53 ET (10:53 GMT)

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