Bank of Canada Remains 'Far' From Reaching 2% CPI Target
Bank of Canada Gov. Tiff Macklem told Canadian lawmakers Tuesday that the central bank remains "far from the goal" of reaching 2% inflation while reiterating the central bank's rate-rising campaign is near an end.
Mr. Macklem told members of the Canadian senate that it will take time to return to a period of solid growth and low inflation. The central bank's mandate is to reach and achieve 2% inflation, and the latest data indicate annual inflation in Canada sits in the 7% range.
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Expected Major Events for Wednesday
00:01/UK: Oct Shop Price Index
00:01/UK: 4Q CBI SME Trends Survey
07:00/GER: Sep Foreign Trade
08:45/ITA: Oct Italy Manufacturing PMI
08:50/FRA: Oct France Manufacturing PMI
08:55/GER: Oct Labour market statistics (incl unemployment)
08:55/GER: Oct Germany Manufacturing PMI
09:30/UK: Oct Narrow money (Notes & Coin) and reserve balances
11:00/US: 10/28 MBA Weekly Mortgage Applications Survey
12:15/US: Oct ADP National Employment Report
14:00/US: 3Q U.S. Housing Vacancies
14:00/US: Sep Metropolitan Area Employment & Unemployment
14:30/US: 10/28 EIA Weekly Petroleum Status Report
15:00/US: Oct Global Manufacturing PMI
18:00/US: U.S. interest rate decision
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Expected Earnings for Wednesday
ATI Inc (ATI) is expected to report $0.51 for 3Q.
Apollo Global Management Inc (APO) is expected to report for 3Q.
Avanos Medical Inc (AVNS) is expected to report $0.28 for 3Q.
Avient Corp (AVNT) is expected to report for 3Q.
BGC Partners (BGCP) is expected to report $0.05 for 3Q.
Berry Corp (bry) (BRY) is expected to report $0.48 for 3Q.
BrightSpire Capital Inc (BRSP) is expected to report for 3Q.
Brookfield Infrastructure Partners LP (BIP,BIP.UN.T) is expected to report for 3Q.
CH Robinson Worldwide (CHRW) is expected to report $2.13 for 3Q.
CVS Health Corp (CVS) is expected to report $1.74 for 3Q.
Calfrac Well Services is expected to report for 3Q.
Cedar Fair (FUN) is expected to report $3.97 for 3Q.
Cenovus Energy Inc (CVE,CVE.T) is expected to report $1.05 for 3Q.
Crestwood Equity Partners LP (CEQP) is expected to report $0.19 for 3Q.
Dynatrace Inc (DT) is expected to report for 2Q.
Entegris Inc (ENTG) is expected to report $0.97 for 3Q.
Estee Lauder (EL) is expected to report $1.26 for 1Q.
Frontier Communications Parent Inc (FYBR) is expected to report for 3Q.
Generac Holdings Inc (GNRC) is expected to report $1.83 for 3Q.
Gentherm (THRM) is expected to report $0.52 for 3Q.
Humana Inc (HUM) is expected to report $6.10 for 3Q.
Lindblad Expeditions Holdings Inc (LIND) is expected to report $0.23 for 3Q.
Martin Marietta Materials (MLM) is expected to report $4.66 for 3Q.
Mastech Digital Inc (MHH) is expected to report $0.30 for 3Q.
Materion Corp (MTRN) is expected to report $1.31 for 3Q.
NOW Inc (DNOW) is expected to report $0.29 for 3Q.
National Retail Properties Inc (NNN) is expected to report for 3Q.
Omnicell (OMCL) is expected to report $0.37 for 3Q.
Pieris Pharmaceuticals Inc (PIRS) is expected to report $-0.16 for 3Q.
Radware Ltd (RDWR) is expected to report $0.05 for 3Q.
Rithm Capital Corp (RITM) is expected to report $0.01 for 3Q.
Rockwell Automation Inc (ROK) is expected to report $2.85 for 4Q.
Sabre Corp (SABR) is expected to report $-0.38 for 3Q.
Secure Energy Services is expected to report $0.15 for 3Q.
Shenandoah Telecommunications Co (SHEN) is expected to report $0.02 for 3Q.
Sinclair Broadcast Group (SBGI) is expected to report $0.39 for 3Q.
TE Connectivity Ltd (TEL) is expected to report $1.82 for 4Q.
Tupperware Brands Corp (TUP) is expected to report $0.40 for 3Q.
Xenia Hotels & Resorts Inc (XHR) is expected to report $0.05 for 3Q.
YUM! Brands Inc (YUM) is expected to report $1.15 for 3Q.
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ANALYST RATINGS ACTIONS
Abiomed Cut to Market Perform From Outperform by William Blair
Abiomed Cut to Neutral From Overweight by Piper Sandler
Altra Industrial Motion Cut to Neutral From Outperform by Baird
AnaptysBio Raised to Buy From Neutral by Guggenheim
Arista Networks Raised to Buy From Underperform by B of A Securities
Carvana Raised to Neutral From Underweight by JP Morgan
Centerspace Cut to Neutral From Overweight by Piper Sandler
Charles Schwab Cut to Neutral From Outperform by Credit Suisse
Clearwater Paper Corporation Cut to Sector Perform From Outperform by RBC Capital
Clearwater Paper Cut to Sector Perform From Outperform by RBC Capital
Core Scientific Cut to Neutral From Buy by Compass Point
Emerson Electric Cut to Hold From Buy by Deutsche Bank
Exxon Mobil Raised to Neutral From Underperform by Exane BNP Paribas
First Solar Raised to Equal-Weight From Underweight by Barclays
Gogo Raised to Equal-Weight From Underweight by Morgan Stanley
Greenlane Holdings Cut to Neutral From Buy by Roth Capital
Guardant Health Cut to Neutral From Overweight by Piper Sandler
Inovio Pharma Cut to Underperform From Neutral by B of A Securities
Instil Bio Cut to Market Perform From Outperform by Cowen & Co.
IPG Photonics Raised to Market Perform From Underperform by Raymond James
Lennox Raised to Neutral From Underweight by JP Morgan
LPL Financial Holdings Raised to Outperform From Neutral by Credit Suisse
Monster Beverage Raised to Overweight From Neutral by JP Morgan
Norfolk Southern Raised to Sector Perform From Underperform by RBC Capital
Principal Financial Cut to Equal-Weight From Overweight by Barclays
RPT Realty Cut to Neutral From Outperform by Credit Suisse
Skechers Cut to Hold From Buy by Argus Research
Steven Madden Cut to Neutral From Outperform by Wedbush
Stryker Cut to Hold From Buy by Canaccord Genuity
TuSimple Cut to Perform From Outperform by Oppenheimer
TuSimple Cut to Underweight From Overweight by JP Morgan
Union Pacific Cut to Underperform From Sector Perform by RBC Capital
Varonis Systems Cut to Hold From Buy by Craig-Hallum
Varonis Systems Cut to Neutral From Buy by Citigroup
Varonis Systems Cut to Neutral From Outperform by Wedbush
Varonis Systems Cut to Neutral From Overweight by Piper Sandler
Varonis Systems Cut to Underweight From Overweight by Wells Fargo
Ventas Cut to Outperform From Strong Buy by Raymond James
Welltower Cut to Outperform From Strong Buy by Raymond James
Zymeworks Cut to Neutral From Buy by HC Wainwright & Co.
This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
11-02-22 0546ET
