North American Morning Briefing: Powell Comments, -2-

Joining the chaos, Fischer ultimately spent about four minutes inside the building and netted himself seven criminal charges, including a felony count of obstructing an official proceeding.

While Biden Worries About the Left, the Voters He Needs Are in the Center

WASHINGTON-President Biden's announcement last week that his administration would seek to forgive billions of dollars' worth of federal student loans was cheered by progressives, the latest in a string of actions he has taken to shore up support from the left-annoying the center in the process.

That has some Democrats worrying he is making a big mistake. Despite much recent hand-wringing about the unpopular president's need to shore up his base with liberal appeals, polls show Biden's principal weakness isn't with the left but with the middle of the electorate. The president, some centrists argue, isn't doing enough to appeal to the moderate and independent voters that tend to decide elections.

Israel-Iran Confrontation Forces Gulf Powers to Choose Sides

DUBAI-Saudi Arabia and other oil-rich Persian Gulf states have tried to avoid taking a position on America's geopolitical rivalries in recent years, staying neutral in the Ukraine war and building ties with China. With Israel and Iran in open conflict, they might be forced to choose a side.

Saudi Arabia and the United Arab Emirates struggled to stay on the sidelines when it became clear last week that Iran would attack Israel in retaliation for a strike in Syria that killed senior Iranian military officers.

Write to ina.kreutz@wsj.com

TODAY IN CANADA

Earnings:

None scheduled

Economic Calendar (ET):

0830 Mar Housing Starts

0830 Mar CPI

1600 Canadian Federal Budget Presentation

Stocks to Watch:

Anaergia Announces Additional Delay in the Filing of Its Audited Financial Statements and Related Disclosures; Anaergia Expects to File On or About April 22

GreenFirst Forest Products: Significant Reduction in SG&A and Overhead Expenses; Compared to 2023, on an Annualized Basis, Initiatives Projected to Result in Total Savings of Approximately $8M

Orvana Minerals Reports 2Q Production of 10,101 Gold Equivalent Ounces; Orovalle 2Q Performance Hurt by Work Stoppages

Siyata Mobile Offering Up to $4M of Stock

Tamarack Valley Energy Announces Unplanned Outage in the Nipisi Area; Evaluating Several Alternatives That May Enable the Co to Accelerate Bringing Production Back On-stream

Western Copper and Gold Announces $25M Bought Deal Public Offering

Expected Major Events for Tuesday

06:00/GER: Mar WPI

06:00/UK: Mar UK monthly unemployment figures

08:00/ITA: Mar CPI

09:00/GER: Apr ZEW Indicator of Economic Sentiment

09:00/ITA: Feb Foreign Trade EU

12:15/CAN: Mar Housing Starts

12:30/US: Mar New Residential Construction - Housing Starts and Building Permits

12:30/CAN: Mar CPI

12:55/US: 04/13 Johnson Redbook Retail Sales Index

13:15/US: Mar Industrial Production & Capacity Utilization

20:30/US: API Weekly Statistical Bulletin

23:50/JPN: Mar Provisional Trade Statistics for the Month

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

Expected Earnings for Tuesday

Bank First Corp (BFC) is expected to report $1.47 for 1Q.

Bank of America Corp (BAC) is expected to report $0.76 for 1Q.

Bank of New York Mellon Corp (BK) is expected to report $1.19 for 1Q.

Barrick Gold Corp (ABX.T,GOLD) is expected to report for 1Q.

CorEnergy Infrastructure Trust Inc (CORR) is expected to report for 4Q.

Enviva Inc (EVA) is expected to report $0.15 for 4Q.

Equity Bancshares Inc (EQBK) is expected to report $0.85 for 1Q.

FRMO Corp (FRMO) is expected to report for 3Q.

Farmers & Merchants Bancorp Inc (FMAO) is expected to report $0.35 for 1Q.

Fulton Financial Corp (FULT) is expected to report $0.39 for 1Q.

Hancock Whitney Corp (HWC) is expected to report $1.18 for 1Q.

InVivo Therapeutics Holdings Corp (NVIVQ) is expected to report for 4Q.

Interactive Brokers Group Inc (IBKR) is expected to report $1.63 for 1Q.

J.B. Hunt Transport Services Inc (JBHT) is expected to report $1.53 for 1Q.

Johnson & Johnson (JNJ) is expected to report $2.32 for 1Q.

Kolibri Global Energy Inc (KEI.T) is expected to report for 4Q.

Luna Innovations (LUNA) is expected to report $-0.02 for 4Q.

Manhattan Bridge Capital (LOAN) is expected to report $0.12 for 1Q.

Mercantile Bank Corp (MBWM) is expected to report $1.14 for 1Q.

Momentus Inc (MNTS) is expected to report for 4Q.

Morgan Stanley (MS) is expected to report $1.65 for 1Q.

NanoString Technologies Inc (NSTGQ) is expected to report $-0.51 for 4Q.

Navidea Biopharmaceuticals Inc (NAVB) is expected to report for 4Q.

Northern Trust Corp (NTRS) is expected to report $0.95 for 1Q.

Omnicom Group (OMC) is expected to report $1.50 for 1Q.

Ontrak Inc (OTRK) is expected to report $-0.21 for 4Q.

OrganiGram Holdings Inc (OGI,OGI.T) is expected to report for 2Q.

Orgenesis Inc (ORGS) is expected to report for 4Q.

PNC Financial Services Group (PNC) is expected to report $3.01 for 1Q.

Pressure BioSciences Inc (PBIO) is expected to report for 4Q.

SQZ Biotechnologies Co (SQZB) is expected to report for 4Q.

Siebert Financial Corp (SIEB) is expected to report for 4Q.

Singing Machine Co Inc (MICS) is expected to report for 3Q.

TAG Oil (TAO.V,TAOIF) is expected to report for 3Q.

TSR Inc (TSRI) is expected to report for 3Q.

Union Bankshares Inc (UNB) is expected to report for 1Q.

United Airlines Holdings Inc (UAL) is expected to report $-0.55 for 1Q.

UnitedHealth Group Inc (UNH) is expected to report $6.41 for 1Q.

Virginia National Bankshares Corp (VABK) is expected to report for 1Q.

WaFd Inc (WAFD) is expected to report $0.40 for 2Q.

Powered by Kantar Media and Dow Jones.

ANALYST RATINGS ACTIONS

Advanced Micro Devices Raised to Buy From Hold by HSBC

Berry Global Group Cut to Neutral From Outperform by Baird

Brunswick Corp Cut to Neutral From Outperform by Exane BNP Paribas

Churchill Downs Raised to Overweight From Equal-Weight by Wells Fargo

Cisco Systems Raised to Buy From Neutral by B of A Securities

Clipper Realty Cut to Underperform From Outperform by Raymond James

Constellation Brands Raised to Buy From Hold by Argus Research

Crown Holdings Raised to Outperform From Neutral by Baird

Extreme Networks Raised to Buy From Neutral by B. Riley Securities

Frontier Comms Parent Raised to Buy From Neutral by Citigroup

Honeywell Intl Cut to Hold From Buy by Deutsche Bank

Integer Holdings Raised to Buy From Neutral by B of A Securities

Lockheed Martin Raised to Overweight From Neutral by JP Morgan

Malibu Boats Cut to Market Perform From Outperform by Raymond James

Marinus Pharmaceuticals Cut to Sector Perform From Outperform by RBC Capital

Masimo Raised to Buy From Hold by Stifel

PVH Corp Raised to Outperform From Neutral by Wedbush

Rollins Inc Cut to Neutral From Buy by UBS

Snap One Holdings Cut to Market Perform From Outperform by William Blair

Triumph Group Raised to Neutral From Underweight by JP Morgan

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

(END) Dow Jones Newswires

April 16, 2024 06:26 ET (10:26 GMT)

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