MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1843 Weds; -1.22% Y/Y

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

MNI: JAPAN NOV CORP GOODS PRICE INDEX +3.7% Y/Y; OCT REV +3.6%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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Equities Roundup: Awaiting Next Round of Earnings

US STOCKS
  • Stock indexes holding mildly mixed levels in afternoon trade, Dow shares outperforming (+9.1 at 33817.99) vs. weaker Nasdaq (-43.7 at 12028.98) while SPX Eminis holding steady (4156.75). SPX futures reversed modest early gains following notably weaker than expected Dallas Fed manufacturing index at -23.4 (cons -11.0) after -15.7.
  • Equity desks awaited the next round of earnings after the close with the following stocks reporting: Ameriprise Financial Inc, Crown Holdings Inc, First Republic Bank, Alexandria Real Estate, Cadence Design Systems Inc, AGNC Investment Corp, Range Resources Corp, Cleveland-Cliffs Inc.
  • Oddly, First Republic Bank (FRC) shares rallied to 16.35 high on the open (highest since March 27) ahead of the earning announcement after the bell.
  • For a technical perspective, The trend outlook in S&P E-minis remains bullish and the latest move lower from the Apr 18 high is considered corrective. Support to watch lies at 4125.73, the 20-day EMA where a break is required to suggest scope for a deeper pullback - this would expose 4083.76, the 50-day EMA.
  • Attention is on the 4200.00 handle where a breach would resume the uptrend and open 4205.50, Feb 16 high ahead of 4244.00, the Feb 2 high and key resistance
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