TOKYO-President Biden said he would maintain longstanding U.S. policy toward Taiwan, a day after triggering global confusion when he said the U.S. would respond militarily to any effort by China to take the island by force.
“My policy has not changed at all. I stated that when I made my statement yesterday,” he told reporters here when asked whether he would send U.S. troops to Taiwan if China invaded.
Quad Members Have Eyes on China, No Collective Comment on Russia
TOKYO-President Biden and the leaders of Japan, India and Australia agreed to set up joint monitoring of ships in the Indo-Pacific region, a move designed to deter illegal Chinese fishing and maritime militias, but they didn’t jointly condemn Russia for its invasion of Ukraine.
The leaders of the group of democratic countries called the Quadrilateral Security Dialogue, also known as the Quad, met in Tokyo to discuss the war in Ukraine, responses to the Covid-19 pandemic and ways to counter China by deepening their ties and relations with other democracies.
Write to paul.larkins@dowjones.com TODAY IN CANADA
Earnings:
None scheduled
Economic Indicators:
None scheduled
Expected Major Events for Tuesday
00:30/JPN: May Japan Flash Manufacturing PMI
05:00/JPN: Apr Supermarket sales
05:30/JPN: Apr Tokyo area department store sales
05:30/JPN: Apr Nationwide department store sales
06:00/UK: Apr Public sector finances
06:45/FRA: May Monthly business survey (goods-producing industries)
07:15/FRA: May France Flash PMI
07:30/GER: May Germany Flash PMI
08:30/UK: May Flash UK PMI
08:59/JPN: Mar Final Labour Survey – Earnings, Employment & Hours Worked
10:00/UK: May CBI Distributive Trades Survey
10:00/FRA: 1Q OECD trade statistics release
12:55/US: 05/21 Johnson Redbook Retail Sales Index
13:45/US: May US Flash Manufacturing PMI
13:45/US: May US Flash Services PMI
14:00/US: Apr New Residential Sales
14:00/US: May Richmond Fed Business Activity Survey
17:00/US: Apr Money Stock Measures
20:30/US: 05/20 API Weekly Statistical Bulletin
22:59/US: ISM Semiannual Report On Business Economic Forecast
All times in GMT. Powered by Kantar Media and Dow Jones.
Expected Earnings for Tuesday
Abercrombie & Fitch Co (ANF) is expected to report $0.08 for 1Q.
Agilent Technologies (A) is expected to report $0.94 for 2Q.
AutoZone Inc (AZO) is expected to report $26.19 for 3Q.
Best Buy Co Inc (BBY) is expected to report $1.64 for 1Q.
Caleres Inc (CAL) is expected to report $0.85 for 1Q.
California First Leasing Corp (CFNB) is expected to report for 3Q.
Canadian Solar (CSIQ) is expected to report $-0.07 for 1Q.
Citi Trends Inc (CTRN) is expected to report $0.43 for 1Q.
Clearday Inc (CLRD) is expected to report for 1Q.
FTI Consulting (FCN) is expected to report $1.74 for 4Q.
Genesis Healthcare Inc (GENN) is expected to report $-0.33 for 4Q.
Intuit Inc (INTU) is expected to report $6.23 for 3Q.
Ituran Location (ITRN,ITRN-TV) is expected to report for 1Q.
LiveRamp Holdings Inc (RAMP) is expected to report $-0.40 for 4Q.
NetEase Inc – ADR (K3MD.SG,NTES) is expected to report $1.51 for 1Q.
Nordstrom Inc (JWN) is expected to report $-0.06 for 1Q.
Ooma Inc (OOMA) is expected to report $-0.05 for 1Q.
Petco Health & Wellness Co Inc (WOOF) is expected to report for 1Q.
Ralph Lauren Corp (RL) is expected to report $0.37 for 4Q.
Toll Brothers (TOL) is expected to report $1.50 for 2Q.
Trip.com Group Ltd (K3RD.SG,TCOM) is expected to report for 1Q.
Urban Outfitters (URBN) is expected to report $0.43 for 1Q.
iMedia Brands Inc (IMBI) is expected to report for 1Q.
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ANALYST RATINGS ACTIONS
Abercrombie & Fitch Cut to Neutral From Buy by Citigroup
American Eagle Outfitters Cut to Neutral From Buy by Citigroup
Asbury Automotive Cut to Underweight From Equal-Weight by Morgan Stanley
Axon Enterprise Cut to Equal-Weight From Overweight by Morgan Stanley
Carter’s Cut to Sell From Buy by Citigroup
Children’s Place Cut to Sell From Neutral by Citigroup
Dow Cut to Neutral From Overweight by Piper Sandler
DTE Energy Raised to Outperform From Neutral by Credit Suisse
frontdoor Cut to Hold From Buy by Truist Securities
Gap Inc Cut to Sell From Neutral by Citigroup
Group 1 Auto Cut to Underweight From Equal-Weight by Morgan Stanley
HP Cut to Neutral From Buy by Citigroup
Luna Innovations Raised to Outperform From Market Perform by Northland Capital Markets
Motorola Solutions Raised to Overweight From Equal-Weight by Morgan Stanley
Nike Cut to Neutral From Outperform by KGI Securities
Ralph Lauren Cut to Neutral From Buy by Citigroup
Trimble Raised to Equal-Weight From Underweight by Morgan Stanley
Under Armour Cut to Neutral From Buy by Citigroup
Zebra Raised to Equal-Weight From Underweight by Morgan Stanley
This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
May 24, 2022 05:55 ET (09:55 GMT)
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