Official data released over the weekend show that Chinese tourists made 119 million domestic trips during the three-day holiday, up 11.5% from the same period in 2019 before the pandemic. Domestic tourism revenue totaled 53.95 billion yuan ($7.46 billion), up about 13% from 2019 levels.
Biden's Student-Loan Plan Seeks to Slash Debt for 30 Million Americans
WASHINGTON-The Biden administration is proposing a sweeping initiative to slash student debt for as many of 30 million Americans, a plan likely to face legal challenges from Republicans who helped kill an earlier White House attempt at large-scale loan cancellation.
The proposal, which President Biden is set to describe in a Monday speech in Wisconsin, marks a major new White House effort to appeal to progressives and young voters seven months before the November election, with polls showing him trailing his Republican opponent, Donald Trump, and underperforming among adults under 30.
Mike Johnson Prepares to Unwrap Mystery Ukraine Aid Package
WASHINGTON-Embattled House Speaker Mike Johnson (R., La.) has pledged to bring up Ukraine aid for a vote in the House soon after Congress returns from Easter recess in coming days. But what the bill will look like-and who will support it-remains unsettled due to fractures among Republicans and Democrats over both aid for Kyiv and related assistance for Israel.
The Senate passed a $95 billion package for Ukraine, Israel and Taiwan in February with bipartisan support. Johnson has resisted calls from defense hawks of both parties to simply bring the Senate bill up for a vote in the House, saying his chamber will move forward with its own bill that would add "some important innovations" not included in the Senate version.
Write to paul.larkins@dowjones.com TODAY IN CANADA
Earnings:
None scheduled
Economic Calendar:
Nothing scheduled
Stocks to Watch:
Australia's Westgold Resources to Merge With Karora Resources; Karora Shareholders to Receive 2.524 Westgold Shares Per Security; Karora Shareholders to Receive A$0.68/Share in Cash; Karora Shareholders to Receive 0.3 of a Share Per Security in New Company Housing Demerged Interest in Kali Metals; Westgold Shareholders Will Own 50.1% of Combined Westgold-Karora Entity; Westgold Intends to Apply for Toronto Quotation of Shares; Transaction Creates Globally Investable, Mid-Tier Gold Producers
Bausch Health: Patent Lawsuit Filed Against Amneal Pharmaceuticals; Lawsuit Follows Receipt Notice That Amneal Submitted FDA ANDA to Market Generic Version of Xifaxan 550 Mg Tablets; Amneal Asserts Certain Patents Listed in FDA's Orange Book for Xifaxan Are Unenforceable, Invalid, and/or Not Infringed by ANDA Product
Royal Bank of Canada said it terminated Finance Chief Nadine Ahn's employment after an investigation found Ahn had an undisclosed relationship with an employee that led to preferential treatment for that employee. The bank appointed Katherine Gibson as its interim chief financial officer. Ahn couldn't immediately be reached for comment.
Expected Major Events for Monday
04:30/JPN: Mar Corporate Insolvencies
05:00/JPN: Mar Economy Watchers Survey
06:00/GER: Feb Foreign Trade
06:00/GER: Feb Industrial Production Index
10:00/FRA: Feb OECD CPI
14:00/US: Mar Employment Trends Index
23:01/UK: Mar BRC-KPMG Retail Sales Monitor
23:01/UK: Mar Scottish Retail Sales Monitor
23:01/UK: CBI Financial Services Survey
All times in GMT. Powered by Kantar Media and Dow Jones.
Expected Earnings for Monday
Bank of South Carolina Corp (BKSC) is expected to report for 1Q.
Cue Biopharma Inc (CUE) is expected to report $-0.28 for 4Q.
Eagle Pharmaceuticals Inc (EGRX) is expected to report $0.21 for 4Q.
Equus Total Return Inc (EQS) is expected to report for 4Q.
Exela Technologies Inc (XELA) is expected to report for 4Q.
Greenlane Holdings Inc (GNLN) is expected to report for 4Q.
Hallmark Financial Services Inc (HALL) is expected to report for 4Q.
Intermap Technologies Corp (IMP.T) is expected to report for 4Q.
New Concept Energy (GBR) is expected to report for 4Q.
Qualstar Corp (QBAK) is expected to report for 4Q.
RegeneRX Biopharmaceuticals Inc (RGRX) is expected to report for 4Q.
Rennova Health Inc (RNVA) is expected to report for 4Q.
Tonix Pharmaceuticals Holding Corp (TNXP) is expected to report $-0.28 for 4Q.
VBI Vaccines Inc (VBIV) is expected to report for 4Q.
Powered by Kantar Media and Dow Jones.
ANALYST RATINGS ACTIONS
Acadia Realty Trust Raised to Buy From Neutral by B of A Securities
Agilent Raised to Buy From Hold by Stifel
Altice USA Cut to Underweight From Equal-Weight by Wells Fargo
AngioDynamics Raised to Outperform From Perform by Oppenheimer
Cinemark Raised to Overweight From Underweight by Wells Fargo
CME Group Cut to Hold From Buy by Deutsche Bank
Core & Main Cut to Neutral From Buy by Citigroup
Endeavor Group Holdings Cut to Neutral From Overweight by JP Morgan
Energous Cut to Neutral From Buy by Ladenburg Thalmann
Enphase Energy Cut to Neutral From Buy by Citigroup
First Horizon Raised to Outperform From Market Perform by Keefe, Bruyette & Woods
Fox Corp. Raised to Buy From Neutral by Seaport Global
Gulfport Energy Cut to Sector Weight From Overweight by Keybanc
Invivyd Raised to Buy From Neutral by Guggenheim
Kimco Realty Cut to Neutral From Buy by B of A Securities
Krispy Kreme Raised to Overweight From Neutral by Piper Sandler
Lindsay Raised to Buy From Neutral by Northcoast Research
Natera Raised to Outperform From Market Perform by Bernstein
Ollie's Bargain Outlet Raised to Buy From Hold by Loop Capital
Plug Power Cut to Sell From Neutral by Citigroup
Public Storage Raised to Overweight From Equal-Weight by Wells Fargo
Retail Opp Investment Cut to Underperform From Neutral by B of A Securities
Scotts Miracle-Gro Cut to Hold From Buy by Truist Securities
Shockwave Medical Cut to Hold From Buy by Canaccord Genuity
Shockwave Medical Cut to Hold From Buy by Needham
Shockwave Medical Cut to Peer Perform From Outperform by Wolfe Research
Snowflake Raised to Buy From Neutral by Rosenblatt
SoFi Technologies Raised to Market Perform From Underperform by Keefe, Bruyette & Woods
Tanger Factory Outlet Raised to Neutral From Underperform by B of A Securities
Western Digital Raised to Buy From Neutral by Rosenblatt
This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
04-08-24 0613ET
