The Caixin China Services purchasing managers index rose to 57.8 in March from 55.0 in February, Caixin Media Co. and S&P Global said Thursday.
India's Central Bank Unexpectedly Keeps Policy Rate Unchanged
All seven economists surveyed by The Wall Street Journal had expected the central bank would increase the policy rate by 25 basis points
India's central bank unexpectedly kept its policy rate unchanged on Thursday, as uncertainty grows over the global economic outlook amid recent turbulence in the global banking sector.
Reserve Bank of Australia Confident as Mortgage Cliff Looms
SYDNEY-The Reserve Bank of Australia is confident that a coming sharp jump in mortgage repayments for many households won't result in too much additional financial stress.
"Most borrowers on fixed rates appear well placed for the step-up to higher rates when their fixed-rate term expires," the RBA's latest report card on financial stability released Thursday said.
German Industrial Production Rose for Second Straight Month in February
Industrial production in Germany increased in February for a second consecutive month, suggesting resilience midway through the first quarter as supply-chain bottlenecks ease and energy prices normalize.
Industrial output-comprising production in manufacturing, energy and construction-rose 2.0% in February compared with the previous month on a price, seasonally and calendar adjusted basis, easing from revised 3.7% increase in January, data from the German statistics office Destatis showed Thursday.
Venture funding plunges amid the implosion of Silicon Valley Bank
The venture funding spigot, which gushed like a fire hose in 2021 and early 2022, is all but drip-drip-drip now.
By the end of the first quarter of 2023, the fundraising momentum that began in 2021 had largely evaporated, with $11.7 billion closed across 99 funds in the U.S. - on track for the worst performance since the fourth quarter of 2017, according to a PitchBook-NVCA Venture Monitor report issued late Wednesday. Late-stage deal value declined for a seventh straight quarter.
Commercial real-estate prices could tumble 40%, rivaling declines from the 2008 financial crisis: Morgan Stanley
A downward spiral of commercial property prices can hurt sectors beyond the real-estate industry, warns Lisa Shalett, chief investment officer at Morgan Stanley Wealth Management.
Morgan Stanley analysts think commercial property prices could tumble as much as 40%, nearing declines seen in the aftermath of the 2008 global financial crisis.
Saudi, Iranian Foreign Ministers Agree to Resume Flights After Beijing Meeting
RIYADH, Saudi Arabia-Saudi Arabia and Iran agreed to restore flights between their countries and resume government and private-sector visits, after their top diplomats met in Beijing on Thursday as a thaw begins in one of the Middle East's thorniest rivalries.
The summit comes weeks after the two governments agreed to re-establish diplomatic relations in a deal brokered by China, which ended seven years of estrangement and jolted the geopolitics of this oil-rich region.
Robert Kennedy Jr. Files to Run for President as a Democrat
WASHINGTON-Antivaccine activist Robert F. Kennedy Jr. filed paperwork on Wednesday to run for president as a Democrat in a long-shot bid against President Biden.
Mr. Kennedy, son of former Attorney General Robert F. Kennedy and nephew of former President John F. Kennedy, declared his candidacy by filing a statement with the Federal Election Commission. He joins self-help author and activist Marianne Williamson in a 2024 Democratic field that is unlikely to include any major challengers to Mr. Biden.
Janet Protasiewicz, Backed by Democrats, Wins Crucial Swing Seat on Wisconsin Supreme Court
MILWAUKEE-Wisconsin voters elected Judge Janet Protasiewicz, who was backed by the Democratic Party, as the newest state Supreme Court justice after a contentious election for the critical swing seat, setting the stage for challenges to the state's 1849 law banning most abortions and a potential redrawing of the state's current electoral maps.
The race was the most expensive such judicial contest in U.S. history, demonstrating how state courts have become the focus of increasingly partisan politics. Judge Protasiewicz currently serves on a lower court. Her opponent, Daniel Kelly, was appointed to fill a vacancy on the Wisconsin Supreme Court in 2016 but lost an election in 2020 to retain his seat and has worked as a lawyer for the Republican Party in the time since he left the bench. With 87% of the vote in at 10:30 p.m. local time, Judge Protasiewicz had 55% of the vote to Mr. Kelly's 45%.
North Carolina Democrat Changes Parties, Upending State Politics
A North Carolina lawmaker who was elected as a Democrat in November moved across the aisle, creating a Republican supermajority in the state legislature with the power to override the Democratic governor's vetoes.
State Rep. Tricia Cotham said Wednesday she was the subject of what amounted to bullying from her Democratic colleagues. She said she now finds the party unrecognizable.
America's Top Hostage Envoy Pursues Freedom for Detained U.S. Citizens in Increasingly Hostile World
When a hostile foreign nation or group releases an imprisoned U.S. citizen, the first American to welcome them home is typically Washington's hostage deal maker in chief, Roger D. Carstens.
The special presidential envoy for hostage affairs was on a tarmac Dec. 8 in the United Arab Emirates to meet Brittney Griner when she arrived on a Russian plane after almost 10 months in captivity. Mr. Carstens told the freed basketball star that he was there to escort her home on behalf of President Biden and Secretary of State Antony Blinken, according to a senior Biden administration official.
Write to paul.larkins@dowjones.com TODAY IN CANADA
Earnings:
None scheduled
Economic Calendar (ET):
0830 Mar Labour Force Survey
1000 Mar Ivey Purchasing Managers Index
Stocks to Watch:
Avino Silver & Gold Mines Reports Fatal Accident at the Avino Mine Property in Durango, Mexico; Accident Involved Contractor's Employee; Avino Currently Doesn't Expect the Accident to Affect Production From the Avino Mine
Expected Major Events for Thursday
02:00/JPN: Mar Imported Vehicle Sales
06:00/GER: Feb Industrial Production Index
06:00/UK: Mar Halifax House Price Index
06:00/UK: 1Q Halifax House Price Index: UK Regional Breakdown quarterly release
08:30/UK: Mar S&P Global / CIPS UK Construction PMI
11:30/US: Mar Challenger Job-Cut Report
12:30/US: 04/01 Unemployment Insurance Weekly Claims Report - Initial Claims
12:30/US: U.S. Weekly Export Sales
12:30/CAN: Mar Labour Force Survey
13:00/RUS: Weekly International Reserves
14:00/CAN: Mar Ivey Purchasing Managers Index
14:30/US: 03/31 EIA Weekly Natural Gas Storage Report
15:00/US: Mar Global Services PMI
16:00/US: Mar Monthly U.S. Retail Chain Store Sales Index
20:30/US: Foreign Central Bank Holdings
20:30/US: Federal Discount Window Borrowings
23:30/JPN: Feb Household Spending
23:50/JPN: Mar International Reserves / Foreign Currency
23:50/JPN: Mar Provisional Trade Statistics for 1st 20 days of Month
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Expected Earnings for Thursday
ASA Gold & Precious Metals Ltd (ASA) is expected to report for 1Q.
Advaxis Inc (ADXS) is expected to report for 1Q.
Amerityre Corp (AMTY) is expected to report for 2Q.
Applied Digital Corp (APLD) is expected to report for 3Q.
Arcimoto Inc (FUV) is expected to report for 4Q.
Atlantic American (AAME) is expected to report for 4Q.
Buckle Inc (BKE) is expected to report.
ClearSign Technologies Corp (CLIR) is expected to report for 4Q.
Constellation Brands Inc (STZ) is expected to report $1.81 for 4Q.
Edgio Inc (EGIO) is expected to report $-0.12 for 4Q.
Edgio Inc (EGIO) is expected to report for Full year.
Evofem Biosciences Inc (EVFM) is expected to report for 4Q.
Franklin Resources Inc (BEN) is expected to report.
Gatos Silver Inc (GATO) is expected to report for 4Q.
LGL Group (LGL) is expected to report $0.06 for 4Q.
Lamb Weston Holdings Inc (LW) is expected to report $1.01 for 3Q.
Levi Strauss & Co (LEVI) is expected to report $0.33 for 1Q.
Lucira Health Inc (LHDXQ) is expected to report for 4Q.
NantHealth Inc (NH) is expected to report for 4Q.
National CineMedia Inc (NCMI) is expected to report $-0.03 for 4Q.
Orbit International (ORBT) is expected to report for 4Q.
RPM International Inc (RPM) is expected to report $0.31 for 3Q.
Richelieu Hardware (RCH.T) is expected to report $0.49 for 1Q.
Starry Group Holdings Inc (STRYQ) is expected to report for 4Q.
Statera Biopharma Inc (STAB) is expected to report for 4Q.
Symbolic Logic Inc (EVOL) is expected to report for 4Q.
TSR (TSRI) is expected to report for 3Q.
WD 40 (WDFC) is expected to report $1.01 for 2Q.
Yamana Gold Inc (AUY,YRI-T) is expected to report $0.02 for 4Q.
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ANALYST RATINGS ACTIONS
AbbVie Cut to Hold From Buy by Argus Research
Albemarle Cut to Underperform From Neutral by B of A Securities
Bloom Energy Cut to Outperform From Strong Buy by Raymond James
Cigna Raised to Strong Buy From Outperform by Raymond James
Clean Energy Fuels Raised to Outperform From Market Perform by Raymond James
Commercial Metals Raised to Buy From Neutral by B of A Securities
ConocoPhillips Raised to Hold From Sell by Societe Generale
Douglas Emmett Raised to Overweight From Neutral by Piper Sandler
Dutch Bros Raised to Outperform From Neutral by Wedbush
European Wax Center Cut to Neutral From Outperform by Baird
First Citizens Bancshares Raised to Buy From Sell by UBS
Fluence Energy Raised to Buy by Guggenheim
Healthpeak Properties Cut to Neutral From Buy by Citigroup
(MORE TO FOLLOW) Dow Jones Newswires
04-06-23 0605ET
