Home Finance EMEA Morning Briefing: Stocks to Open Lower as -2- – Morningstar.com

EMEA Morning Briefing: Stocks to Open Lower as -2- – Morningstar.com

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EMEA Morning Briefing: Stocks to Open Lower as -2- – Morningstar.com

Prices to ship goods from Canada to the U.S. on the spot market for standard heavy-duty trucks jumped 44% to $4.07 a mile from Jan. 2 to Feb. 5, according to Truckstop.com Inc., a platform matching loads to trucks. The rate for refrigerated trucks rose by a third over that period to $4.87, the company said.
Ukraine Changes the Playbook for the Market Selloff
As serious as the prospect of a war in Europe is, investors should avoid running headlong for cover.
U.S. Is Closing Kyiv Embassy, Relocating Diplomatic Operations to Western Ukraine
WASHINGTON-The U.S. is closing its embassy in the Ukrainian capital of Kyiv and relocating operations 340 miles west to Lviv near the Polish border, as allies warn that an attack by Russian forces on Ukraine may be imminent.
Secretary of State Antony Blinken described the relocation as a temporary move to protect embassy staff.
Inflation Expectations Moderated in January, New York Fed Says
The American public is projecting a moderation in future rates of inflation, for the first time in more than a year, the New York Fed said in its January Survey of Consumer Expectations released Monday.
Respondents expect inflation a year from now to be at 5.8%, down from their 6% projection in December and the first moderation since October 2020. Three years from now, the public sees inflation at 3.5%, down from 4% in the previous month’s survey.
James Bullard Says Fed Needs to Front-Load Rate Raises Amid Inflation Surge
Federal Reserve Bank of St. Louis President James Bullard said the central bank needs to move aggressively to contain inflation pressures and wants a front-loaded course of interest-rate rises to make that happen.
Given the magnitude and duration of the inflation surge, "our credibility is on the line here," Mr. Bullard said in a CNBC interview Monday. To show a commitment to getting inflation back to the central bank’s 2% target, "I do think we need to front-load more of our planned removal of accommodation than we would have previously."
Intel Nears Roughly $6 Billion Deal to Buy Tower Semiconductor
Intel Corp. is close to a deal to buy Israeli chip company Tower Semiconductor Ltd. for nearly $6 billion, according to people familiar with the matter, bolstering a plan to make more chips for other companies.
A deal could be unveiled as soon as this week, assuming the talks don’t fall apart, the people said.
BHP First-Half Net Profit More Than Doubles on Strong Commodity Prices
BHP Group Ltd. said its first-half net profit more than doubled, underpinned by strong prices for all of its commodities, including copper and coal.
The world’s largest-listed miner by market value said it made a net profit of $9.44 billion in the six months through December. It made a profit of $3.88 billion in the same period a year earlier, when impairment charges against its coal assets weighed on its bottom line.
Russia’s Parliament to Weigh Recognition of Breakaway Ukraine Regions
MOSCOW-Russian legislators will Tuesday consider proposals urging President Vladimir Putin to formally recognize the separatist-controlled regions of eastern Ukraine as independent states, in a move that could justify Moscow’s incursion into an area it no longer considers to be Ukrainian territory.
The State Duma, Russia’s lower house of parliament, said Monday it would consider draft resolutions submitted by the ruling United Russia party and Russia’s Communist Party calling on Mr. Putin to acknowledge the sovereignty of the self-proclaimed republics of Donetsk and Luhansk in Ukraine’s Donbas region.
Doing Business in Myanmar Is Tough, but Norway’s Telenor Finds That Leaving Isn’t Much Easier
After last year’s military coup in Myanmar, the local subsidiary of Norwegian telecommunications company Telenor ASA faced orders to block social media, shut off mobile services nationwide and allow the junta to spy on citizens through an invasive new intercept system.
By July, the company decided that operating conditions in the country had become unbearable and said it would pull out. Now it is learning that isn’t easy, either.
Russia Accelerates Troop Buildup Along Ukraine Border
Russia moved ahead with its massive military buildup near Ukraine, as German Chancellor Olaf Scholz began shuttling between the two nations seeking to stave off a conflict, and Moscow left the door open for talks.
U.S. officials said that the Russian forces near Ukraine had grown to 105 battalion tactical groups, up from 83 groups earlier this month. Russia has also moved about 500 combat aircraft within range of Ukraine and has 40 combat ships in the Black Sea, said U.S. officials familiar with intelligence reports.
Intel Nears Roughly $6 Billion Deal to Buy Tower Semiconductor
Intel Corp. is close to a deal to buy Israeli chip company Tower Semiconductor Ltd. for nearly $6 billion, according to people familiar with the matter, bolstering a plan to make more chips for other companies.
A deal could be unveiled as soon as this week, assuming the talks don’t fall apart, the people said.
Talc Users Suing J&J Decry ‘Abusive’ Bankruptcy as Trial Opens
Johnson & Johnson moved a deluge of costly lawsuits over talc-based products to chapter 11 to gain an unfair edge in litigation, lawyers for cancer victims said as a bankruptcy trial opened Monday on the company’s legal strategy.
Personal-injury lawyers accused J&J of improperly seeking to access chapter 11 without filing for bankruptcy itself, instead pushing the company’s talc-related liabilities into a new subsidiary that swiftly filed for court protection. The bankruptcy filing was designed to resolve talc cases before J&J splits off its consumer-health business, which wasn’t financially distressed, injury lawyers said.
Write to sarka.halas@wsj.com
Expected Major Events for Tuesday
05:30/NOR: 1Q Consumer Confidence
07:00/NOR: Jan External trade in goods
07:00/ROM: 4Q Evolution of GDP (estimated data)
07:00/UK: Jan UK monthly unemployment figures
07:45/FRA: 4Q New home sales
08:00/SPN: Jan CPI
08:00/HUN: Dec Construction
08:00/HUN: 4Q Preliminary GDP
08:00/SVK: 4Q Flash estimate of total employment
08:00/SVK: 4Q Flash estimate of GDP
08:30/NED: 4Q GDP – 1st estimate
08:30/NED: Dec International trade
08:30/NED: Dec Consumer Spending
09:00/POL: 4Q Flash estimate GDP
09:00/POL: Dec Merchandise trade
09:00/BUL: Jan CPI
09:00/POL: Jan CPI
10:00/GRE: Jan CPI
10:00/EU: Dec Foreign trade
10:00/CYP: 4Q GDP (Flash Estimate)
10:00/EU: 4Q Flash Estimate GDP
10:00/EU: 4Q Flash estimate employment EU and euro area
10:00/GER: Feb ZEW Indicator of Economic Sentiment
11:00/IRL: Dec Goods Exports and Imports
All times in GMT. Powered by Kantar Media and Dow Jones.
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This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
February 15, 2022 00:30 ET (05:30 GMT)
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