MNI: China CFETS Yuan Index Up 0.40% In Week of Jun 14

MNI: PBOC Conducts CNY182 Bln Via 1Y MLF Mon; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1149 Mon; -1.41% Y/Y

CHINA PBOC CONDUCTS CNY4 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1149 MON VS 7.1151

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Japan Apr Machine Orders -2.9% M/M

CHINA MAY INDUSTRIAL OUTPUT +5.6% Y/Y VS MEDIAN +5.9% Y/Y: NBS

MNI JAPAN APRIL CORE MACHINE ORDERS -2.9% M/M; MAR +2.9%

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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Equities Roundup: Comm Services, IT, Nvidia Earnings After Close

US STOCKS
  • Stocks are trading firmer, SPX Eminis near the top end of the session range after climbing back to yesterday's highs led by Communication Services and Information Technology sector shares. At the moment, S&P E-Mini futures are up 41.75 points (0.95%) at 4441, DJIA up 159.76 points (0.47%) at 34449.09, Nasdaq up 202.9 points (1.5%) at 13709.41.
  • Leading gainers: Media and entertainment shares supporting Communication Services with Netflix +4.95% after surge in subscribers a result in pass-word crackdown. Meanwhile, Google +3%, Meta +2.5, Take Two Software +2.2%.
  • Information Technology sector buoyed by semiconductor makers with hardware and software names a close second. Leaders: AMD +3.15%, Intel +2.65%, Monolithic Power +2.5% while Nvidia gains 2.2% ahead of their Q3 earnings after today's close.
  • Laggers: Regions Financial -4.9%, Zions Bancorp -4.65%, Keycorp and Comerica shares both -4.2%.. Elsewhere, Energy and Consumer Staples sectors traded weaker.
  • Technicals: A bearish theme in the E-mini S&P contract remains intact and this week’s recovery appears to be a correction. Last week’s price action reinforces this theme. The move lower resulted in a break of the 50-day EMA and a breach of channel support drawn from the Mar 13 low. The Jun 26 low of 4368.50, was breached last Friday and attention is on 4344.28, a Fibonacci retracement. Initial firm resistance is at 4452.08, the 50-day EMA.
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