WASHINGTON-Tariffs, tax policy and budget deficits look likely to dominate Thursday's confirmation hearing for Scott Bessent, the fund manager picked by President-elect Donald Trump to run the Treasury Department.
Bessent, who has spent his career in the private sector, will get a chance to air his views in public, potentially giving clearer guidance about the incoming administration's economic priorities. Trump has "a generational opportunity to unleash a new economic golden age that will create more jobs, wealth and prosperity for all Americans," Bessent is expected to say, according to his prepared remarks.
Biden Warns of Oligarchy and Tech Industrial Complex in Farewell Address
WASHINGTON-President Biden said Wednesday that an oligarchy and a tech industrial complex were taking hold in America, warning of the risks of unchecked power in a farewell address that served as a bittersweet coda to his 50-year political career.
Biden, in a 17-minute Oval Office speech that included a few stumbles, highlighted his work to usher the country out of the coronavirus pandemic and investing in infrastructure and technology. But he spent much of his time speaking about his concerns and hopes for the country's future.
Write to ina.kreutz@wsj.com TODAY IN CANADA
Earnings:
Blackline Safety 4Q
Economic Indicators (ET):
0815 Dec Housing Starts
Stocks to Watch:
i-80 Gold Completes Conditions to Amend, Restate Convertible Credit Agreement With Orion; Plans Prospectus Financing of Common Shares for Gross Proceeds of US$10M; Share Offering Will Close on or About January 31; to Use Proceeds for Nevada Projects, Other Purposes
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Pan American Silver Achieves 2024 Production Guidance for Silver, Gold, Zinc, Lead, Copper; Now Has Record Cash Balance, in Strong Position to Execute Strategy; to Release 4Q, FY Financial Results in February
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Uranium Energy Corp. Increases Holdings in Anfield Energy; Uranium Energy Buys 107.1M Anfield Shares for Total Consideration of $10.46M
Expected Major Events for Thursday
00:01/UK: Dec RICS Residential Market Survey
04:30/JPN: Nov Revised Retail Sales
07:00/UK: Nov UK trade
07:00/UK: Nov Index of production
07:00/UK: Nov Index of services
07:00/UK: Nov Monthly GDP estimates
07:00/GER: Dec CPI
09:00/ITA: Dec CPI
09:30/UK: 4Q Bank of England Credit Conditions Survey
09:30/UK: 4Q Bank of England Bank Liabilities Survey
10:00/ITA: Nov Foreign Trade EU
11:00/FRA: Nov OECD Harmonised Unemployment Rates
11:00/FRA: 3Q OECD Quarterly Labour Market Situation
12:30/UK: Dec NIESR Monthly GDP Tracker
13:00/RUS: Weekly International Reserves
13:15/CAN: Dec Housing Starts
13:30/US: Dec Import & Export Price Indexes
13:30/US: Dec Advance Monthly Sales for Retail & Food Services
13:30/US: Jan Philadelphia Fed Business Outlook Survey
13:30/US: 01/11 Unemployment Insurance Weekly Claims Report - Initial Claims
13:30/US: U.S. Weekly Export Sales
15:00/US: Nov Manufacturing & Trade: Inventories & Sales
15:00/US: Jan NAHB Housing Market Index
15:30/US: 01/10 EIA Weekly Natural Gas Storage Report
21:30/US: Federal Discount Window Borrowings
21:30/US: Foreign Central Bank Holdings
All times in GMT. Powered by Kantar Media and Dow Jones.
Expected Earnings for Thursday
Avalon Advanced Materials is expected to report for 1Q.
Bank OZK (OZK) is expected to report $1.44 for 4Q.
Bank of America Corp (BAC) is expected to report $0.77 for 4Q.
Bank7 Corp (BSVN,GMAR.XX) is expected to report $1.09 for 4Q.
First Horizon Corp (FHN) is expected to report $0.39 for 4Q.
Five Point Holdings LLC (FPH) is expected to report for 4Q.
Golden Matrix Group Inc (GMGI) is expected to report for 4Q.
Goldman Sachs Group Inc (GS) is expected to report $8.17 for 4Q.
Hingham Institution for Savings (HIFS) is expected to report for 4Q.
Independent Bank Corp (INDB) is expected to report $1.16 for 4Q.
Insteel Industries Inc (IIIN) is expected to report $-0.11 for 1Q.
JB Hunt Transport Services Inc (JBHT) is expected to report $1.62 for 4Q.
M&T Bank Corp (MTB) is expected to report $3.69 for 4Q.
Madison Pacific Properties is expected to report for 1Q.
Morgan Stanley (MS) is expected to report $1.66 for 4Q.
Oak Valley Bancorp (OVLY) is expected to report for 4Q.
PNC Financial Services Group Inc (PNC) is expected to report $3.33 for 4Q.
Petrotal Corp (TAL.T) is expected to report.
Platinum Group Metals Ltd (PLG,PTM.T) is expected to report for 1Q.
Polestar Automotive Holding UK PLC - ADR (PSNY) is expected to report $-0.14 for 3Q.
RF Industries (RFIL) is expected to report $0.00 for 4Q.
Richelieu Hardware is expected to report $0.40 for 4Q.
US Bancorp (USB) is expected to report $1.05 for 4Q.
UnitedHealth Group Inc (UNH) is expected to report $6.25 for 4Q.
WaFd Inc (WAFD) is expected to report $0.65 for 1Q.
Westamerica Bancorp (WABC) is expected to report $1.18 for 4Q.
Powered by Kantar Media and Dow Jones.
ANALYST RATINGS ACTIONS
Aris Water Solutions Cut to In-Line From Outperform by Evercore ISI Group
CareDx Raised to Equal-Weight From Underweight by Wells Fargo
CBRE Group Raised to Overweight From Equal-Weight by Morgan Stanley
Centerspace Raised to Buy From Neutral by Janney Montgomery Scott
Devon Energy Raised to Outperform From Market Perform by Bernstein
Digital Realty Raised to Buy From Hold by Deutsche Bank
Douglas Emmett Cut to Neutral From Buy by Janney Montgomery Scott
Edison International Raised to Neutral From Sell by Ladenburg Thalmann
EQT Corp Raised to Outperform From Market Perform by Bernstein
Gaming & Leisure Props Cut to Equal-Weight From Overweight by Morgan Stanley
Helmerich & Payne Cut to In-Line From Outperform by Evercore ISI Group
KB Home Raised to Neutral From Sell by Seaport Global
Lam Research Cut to Peer Perform From Outperform by Wolfe Research
Macerich Raised to Equal-Weight From Underweight by Morgan Stanley
NNN REIT Cut to Neutral From Buy by Janney Montgomery Scott
NorthWestern Energy Group Raised to Buy From Neutral by Ladenburg Thalmann
NOV Cut to In-Line From Outperform by Evercore ISI Group
Safehold Cut to Equal-Weight From Overweight by Morgan Stanley
Schlumberger Cut to In-Line From Outperform by Evercore ISI Group
SentinelOne Cut to Neutral From Buy by UBS
Shyft Group Raised to Buy From Neutral by DA Davidson
Tidewater Cut to In-Line From Outperform by Evercore ISI Group
Weyerhaeuser Raised to Outperformer From Neutral by CIBC
XPO Cut to Hold From Buy by Stifel
This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
01-16-25 0616ET
