MNI BRIEF:BOJ Q1 Output Gap Hits 16th Negative Reading In Row

MNI: PBOC Sets Yuan Parity Higher At 7.1312 Weds; -0.34% Y/Y

MNI: PBOC Net Drains CNY248 Bln Via OMO Weds; Rates Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1312 WEDS VS 7.1291

MNI BRIEF: 'Noise' Driving Economic Deterioration- Campos Neto

MNI: UK JUNE FINAL SERVICES PMI 52.1 (FLASH: 51.2); MAY 52.9

MNI: EUROZONE JUNE FINAL SERVICES PMI 52.8 (FLASH: 52.6); MAY 53.2

MNI: GERMANY JUNE FINAL SERVICES PMI 53.1 (FLASH: 53.5); MAY 54.2

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

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

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Equities Roundup: Financials, Industrials Outperforming

US STOCKS
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  • Stocks are trading near steady to mildly mixed ahead midday, off early session lows as they attempt to shrug off this morning's higher than anticipated jobs gain in May. This morning's strong data weighed heavily on Treasuries as projected rate cuts reversed the week's trend of nearly 50bp by year end. Currently, the DJIA is up 83.62 points (0.22%) at 38968.83, S&P E-Minis up 2.75 points (0.05%) at 5366.75, Nasdaq down 18.2 points (-0.1%) at 17154.78.
  • Financial and Industrial sector shares led gainers in the first half, insurance providers and banks supported the former: Travelers +2.28%, Chubb +2.01%, JP Morgan +1.56%. Commercial/professional services shares supported the Industrials sector: United Rentals +2.23%, ADP +1.54%, Ingersoll Rand +1.50%.
  • On the flipside, Real Estate and Materials sectors underperformed in the first half, investment trusts, particularly office and hotel REITs weighed on the former: American Tower -2.75%, SBA Communications -2.31%, Boston Properties -2.24%. Metals and mining shares weighed on the Materials sector - partially due to Gold falling over $65.0 amid reports China has curbed their 18-month buying program: Newmont -3.84%, Freeport-McMoRan -3.63% while Steel Dynamics declined 0.97%.
  • Looking ahead to next week's notable earnings releases: Autodesk, Casey's General Store, Oracle, Broadcom, and Adobe.
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  • Stocks are trading near steady to mildly mixed ahead midday, off early session lows as they attempt to shrug off this morning's higher than anticipated jobs gain in May. This morning's strong data weighed heavily on Treasuries as projected rate cuts reversed the week's trend of nearly 50bp by year end. Currently, the DJIA is up 83.62 points (0.22%) at 38968.83, S&P E-Minis up 2.75 points (0.05%) at 5366.75, Nasdaq down 18.2 points (-0.1%) at 17154.78.
  • Financial and Industrial sector shares led gainers in the first half, insurance providers and banks supported the former: Travelers +2.28%, Chubb +2.01%, JP Morgan +1.56%. Commercial/professional services shares supported the Industrials sector: United Rentals +2.23%, ADP +1.54%, Ingersoll Rand +1.50%.
  • On the flipside, Real Estate and Materials sectors underperformed in the first half, investment trusts, particularly office and hotel REITs weighed on the former: American Tower -2.75%, SBA Communications -2.31%, Boston Properties -2.24%. Metals and mining shares weighed on the Materials sector - partially due to Gold falling over $65.0 amid reports China has curbed their 18-month buying program: Newmont -3.84%, Freeport-McMoRan -3.63% while Steel Dynamics declined 0.97%.
  • Looking ahead to next week's notable earnings releases: Autodesk, Casey's General Store, Oracle, Broadcom, and Adobe.