Why Trump's Drastic Plan to Slash the Government Could Succeed
WASHINGTON-For decades, conservatives have tried-and largely failed-to fundamentally reshape the federal government. If Donald Trump retakes the White House, they might succeed.
In campaign speeches and statements, the former president has promised to eliminate the independence of key federal agencies, reduce protections for civil servants, deny citizenship to tens of thousands of people born in the U.S. and wrest control of some authority over spending from Congress. If implemented, those measures and others Trump has proposed would amount to the most sweeping overhaul of the government in modern times, legal scholars said.
Write to ina.kreutz@wsj.com
TODAY IN CANADA
Earnings:
Air Canada 3Q
Gibson Energy 3Q
TMX Grp 3Q
Topaz Energy 3Q
Toromont Indus 3Q
Economic Calendar (ET):
1530 Bank of Canada Governor Tiff Macklem appears before the House of Commons Standing Committee on Finance
Stocks to Watch:
Avino Silver & Gold Mines: Coeur Mining Plans to Sell the 14M Avino Shares It Owns to Eligible Investors Outside of Canada; Coeur Mining Currently Owns About 11.2% Stake
Expected Major Events for Monday
00:01/UK: Oct CBI Growth Indicator and Service Sector Survey
00:01/UK: Sep Zoopla House Price Index
01:00/JPN: Sep Steel Imports & Exports Statistics
06:30/GER: Oct North Rhine Westphalia CPI
09:00/ITA: Sep Foreign Trade non-EU
09:00/GER: Oct Bavaria CPI
09:00/GER: Oct Brandenburg CPI
09:00/GER: Oct Hesse CPI
09:00/GER: Oct Baden-Wuerttemberg CPI
09:00/GER: 3Q GDP - 1st release
09:30/UK: Sep Bank of England effective interest rates
09:30/UK: Sep Money and Credit - Lending to Individuals, Lending to Businesses, Broad Money and Credit
09:30/UK: Sep Monetary & Financial Statistics
10:00/GER: Oct Saxony CPI
13:00/GER: Oct Provisional CPI
14:30/US: Oct Texas Manufacturing Outlook Survey
23:30/JPN: Sep Labour Force Survey
23:50/JPN: Sep Preliminary Retail Sales
23:50/JPN: Sep Preliminary Industrial Production
All times in GMT. Powered by Kantar Media and Dow Jones.
Expected Earnings for Monday
AGNC Investment Corp (AGNC) is expected to report $0.34 for 3Q.
Air Canada is expected to report $2.38 for 3Q.
Alexander's Inc (ALX) is expected to report for 3Q.
Apollo Commercial Real Estate Finance Inc (ARI) is expected to report $0.26 for 3Q.
Arch Capital Group Ltd (ACGL) is expected to report $1.65 for 3Q.
BGC Group Inc (BGC) is expected to report for 3Q.
CNA Financial Corp (CNA) is expected to report $0.91 for 3Q.
CNB Financial Corp (Pennsylvania) (CCNE) is expected to report $0.55 for 3Q.
CSB Bancorp Inc (CSBB) is expected to report for 3Q.
Equity Commonwealth (EQC) is expected to report for 3Q.
First Community Bankshares Inc (FCBC) is expected to report $0.66 for 3Q.
Five Star Bancorp (FSBC) is expected to report for 3Q.
Forward Air Corp (FWRD) is expected to report $1.07 for 3Q.
Franklin Financial Services Corp (FRAF) is expected to report for 3Q.
Grupo Aeroportuario del Sureste SAB de CV - ADR (ASR, https://urldefense.com/v3/__http://ASUR.MX__;!!F0Stn7g!HFzpL08r9zeZyFou5RgRXfkKkjAlZWy5nw-7bhpyUZnbeZWYacA8kskQcBmgJyHs0F6nOktv2d8KQ3PHrW1wG-Z267QLYturJjPVNrbd2gs$ ) is expected to report $8.56 for 3Q.
HomeStreet Inc (HMST) is expected to report $0.05 for 3Q.
Independence Realty Trust (IRT) is expected to report $0.08 for 3Q.
Lightbridge Corp (LTBR) is expected to report for 3Q.
Loews Corp (L) is expected to report $0.72 for 3Q.
MVB Financial Corp (MVBF) is expected to report $0.60 for 3Q.
McDonald's Corp (MCD) is expected to report $3.01 for 3Q.
Nicolet Bankshares Inc (NIC) is expected to report $1.55 for 3Q.
ON Semiconductor Corp (ON) is expected to report $1.27 for 3Q.
Office Properties Income Trust (OPI) is expected to report for 3Q.
Orrstown Financial Services Inc (ORRF) is expected to report $0.81 for 3Q.
PotlatchDeltic Corp (PCH) is expected to report $0.13 for 3Q.
Pulse Seismic is expected to report for 3Q.
Revvity Inc (RVTY) is expected to report $0.61 for 3Q.
SJW Group (SJW) is expected to report $0.96 for 3Q.
Sofi Technologies Inc (SOFI) is expected to report for 3Q.
Sound Financial Bancorp (SFBC) is expected to report for 3Q.
TMX Group (X.T) is expected to report $0.31 for 3Q.
Tenet Healthcare Corp (THC) is expected to report $1.16 for 3Q.
Universal Health Realty (UHT) is expected to report for 3Q.
VF Corp (VFC) is expected to report $0.63 for 2Q.
Western Digital Corporation (WDC) is expected to report $1.39 for 1Q.
Western Energy Services Corp (WRG.T) is expected to report for 3Q.
Western New England Bancorp Inc (WNEB) is expected to report $0.15 for 3Q.
Wolfspeed Inc (WOLF) is expected to report for 1Q.
XPO Inc (XPO) is expected to report $0.59 for 3Q.
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ANALYST RATINGS ACTIONS
Adtalem Global Education Raised to Outperform From Neutral by Baird
Align Technology Cut to Neutral From Buy by UBS
Blueprint Medicines Raised to Outperform From Perform by Oppenheimer
Bristol-Myers Squibb Cut to Market Perform From Outperform by BMO Capital
Bristol-Myers Squibb Cut to Market Perform From Outperform by William Blair
Bristol-Myers Squibb Raised to Hold From Reduce by HSBC
Comcast Cut to Sector Perform From Sector Outperform by Scotiabank
Datadog Cut to Equal-Weight From Overweight by Wells Fargo
Dow Cut to Hold From Buy by Argus Research
EastGroup Raised to Outperform From Market Perform by Raymond James
EngageSmart Cut to Hold From Buy by Truist Securities
Enphase Energy Cut to Hold From Buy by HSBC
Enphase Energy Cut to Neutral From Overweight by Piper Sandler
Enphase Energy Cut to Perform From Outperform by Oppenheimer
Frontier Group Cut to Hold From Buy by Deutsche Bank
Hasbro Cut to Neutral From Buy by B of A Securities
Hershey Cut to Market Perform From Outperform by TD Cowen
Hub Group Cut to Neutral From Overweight by JP Morgan
Intel Raised to Hold From Reduce by HSBC
Merck Raised to Outperform From Market Perform by BMO Capital
Old Dominion Freight Raised to Buy From Hold by Stifel
Origin Bancorp Raised to Outperform From Market Perform by Raymond James
PTC Therapeutics Cut to Sell From Neutral by Citigroup
Regions Financial Cut to Neutral From Overweight by JP Morgan
ResMed Raised to Overweight From Equal-Weight by Morgan Stanley
Rithm Capital Raised to Buy From Hold by JonesTrading
Rivian Automotive Raised to Overweight From Neutral by Cantor Fitzgerald
Roblox Raised to Buy From Hold by Truist Securities
Shyft Group Cut to Neutral From Buy by BTIG
Southwest Airlines Cut to Market Perform From Outperform by TD Cowen
SPS Commerce Raised to Outperform From Market Perform by Northland Capital Markets
Stanley Black & Decker Raised to Buy From Neutral by Citigroup
Varonis Systems Raised to Neutral From Underweight by JP Morgan
Whirlpool Cut to Neutral From Buy by Longbow Research
Yelp 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
10-30-23 0623ET
