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North American Morning Briefing: Stock Futures -2-

Biotech stocks, some of the biggest losers in the selloff, are soaring.

The speculative sector is getting a boost from renewed optimism among investors. Fundamental drivers like deal making, new drug approvals and buying by big investors provide confidence that the rally could persist.

   
 
 

What Biotech ETFs Might Be Right for Your Portfolio?

Biotech is back. For those who want to invest through exchange-traded funds, here are some choices.

An exchange-traded fund, or ETF, invests in numerous stocks, quickly conferring exposure to a sector or theme and making ETFs a popular tool for diversifying portfolios. Many offer low expense ratios, reflecting the fees that investors pay each year.

   
 
 

North Korea Berates South Korean President: 'We Don't Like Yoon Suk-yeol Himself'

SEOUL-On Monday, South Korean President Yoon Suk-yeol sought to shake up frothy inter-Korean ties with what he called an "audacious plan." He offered food aid and economic assistance that could modernize North Korea's airports and hospitals-only if Pyongyang showed some commitment to denuclearize.

By the end of the week, North Korea gave its answer: "We don't like Yoon Suk-yeol himself."

   
 
 

Vanished Chinese-Canadian Billionaire Sentenced to 13 Years in Prison

Xiao Jianhua, a Canadian-Chinese billionaire whose abduction from Hong Kong five years ago sent shock waves through China's business community, was sentenced to 13 years in prison by a Shanghai court after pleading guilty to charges including graft and illegal handling of funds.

Mr. Xiao used the company he founded, Tomorrow Group, to pay bribes to unnamed government officials totaling around $100 million over 20 years, according to a statement from the Shanghai No. 1 Intermediate People's Court released on Friday through state media. It said Mr. Xiao used companies he controlled to illegally collect more than more than $45 billion in public deposits.

   
 
 

Write to nihad.ahmed@wsj.com TODAY IN CANADA

Earnings:

Newcrest Mining Limited 4Q

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Economic Indicators (ET):

0830 Jun Retail trade

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Stocks to Watch:

Shawcor: Awarded $500M Pipe Coating Contract in Southeast Mexico

   
 
 

Expected Major Events for Friday

06:00/GER: Jul PPI

06:00/UK: Jul UK monthly retail sales figures

06:00/UK: Jul Public sector finances

09:00/ITA: Jun Balance of Payments

12:30/CAN: Jun Retail trade

14:00/US: 2Q Quarterly Retail E-Commerce Sales

14:00/US: 2Q Advance Quarterly Services

14:00/US: Jul State Employment and Unemployment

All times in GMT. Powered by Onclusive and Dow Jones.

   
 
 

Expected Earnings for Friday

5E Advanced Materials Inc (FEAM) is expected to report for 4Q.

Bit Digital Inc (BTBT) is expected to report for 2Q.

Bri-Chem (BRY.T) is expected to report for 2Q.

Buckle Inc (BKE) is expected to report $0.82 for 2Q.

Canlan Ice Sports (ICE.T) is expected to report for 2Q.

Deere & Co (DE) is expected to report $6.63 for 3Q.

Enterprise Group (E.T) is expected to report for 2Q.

Focus Universal Inc (FCUV) is expected to report for 2Q.

Foot Locker Inc (FL) is expected to report $0.89 for 2Q.

GLG Life Tech Corp (GLG.T,GLGLF) is expected to report for 2Q.

Madison Square Garden Entertainment Corp (MSGE) is expected to report for 4Q.

Mega Matrix Corp (MTMT) is expected to report for 2Q.

North European Oil Royalty Trust (NRT) is expected to report for 3Q.

Oncotelic Therapeutics Inc (OTLC) is expected to report for 2Q.

Pineapple Energy Inc (PEGY) is expected to report for 2Q.

Regional Health Properties Inc (RHE) is expected to report for 2Q.

Twin Disc Inc (TWIN) is expected to report $0.17 for 4Q.

Powered by Onclusive and Dow Jones.

   
 
 

ANALYST RATINGS ACTIONS

American Axle Cut to Peer Perform From Outperform by Wolfe Research

BJ's Wholesale Club Raised to Buy From Neutral by B of A Securities

Krispy Kreme Cut to In-Line From Outperform by Evercore ISI Group

United Rentals Cut to Underperform From Market Perform by Bernstein

Verizon Cut to Underperform From Market Perform by MoffettNathanson

Wolverine World Wide Cut to Hold From Buy by Argus Research

World Wrestling Cut to Neutral From Buy by Northcoast Research

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

 

(END) Dow Jones Newswires

August 19, 2022 06:16 ET (10:16 GMT)

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