MNI China Daily Summary: Tuesday, December 10

MNI BRIEF: China Nov Exports Slows, Imports Slide

MNI BRIEF: China Crude Oil Imports Accelerate In November

CHINA NOV EXPORTS +6.7% Y/Y VS MEDIAN +8.9% Y/Y: CUSTOMS

MNI: CHINA YTD EXPORTS +6.7% Y/Y IN YUAN TERM: CUSTOMS

MNI: PBOC Net Injects CNY90.3 Bln via OMO Tuesday

MNI: GERMAN NOV CPI +2.2 % Y/Y

MNI: NORWAY NOV CORE CPI +0.1% M/M, +3% Y/Y

MNI: NORWAY NOV CPI +0.3% M/M, +2.4% Y/Y

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: IT Help Stocks Climb Off Post-CPI Lows

US STOCKS
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  • Stocks are weaker but off midmorning lows, banks leading Wednesday morning's sell-off following an unexpected gain in Core CPI inflation data. Markets continued to digest the data that saw projected rate cuts scale back chances of a 50bp move at next week's FOMC policy announcement.
  • Currently, the DJIA trades down 464 points (-1.14%) at 40273.19, S&P E-Minis down 50.25 points (-0.91%) at 5453, Nasdaq down 62.7 points (-0.4%) at 16961.49.
  • Banks and financial services weighed on the Financial sector for the second day running amid ongoing concerns over interest income and credit challenges for lenders: Discover Financial Services -4.14%, Brown & Brown -3.29%, Blackrock -2.89%.
  • Despite a bounce in crude following Tuesday's rout, Energy sector shares continued to lag amid ongoing surplus overhang concerns: Valero and Marathon Petroleum -3.5%, APA -2.7%, Occidental Petroleum -2.22%.
  • On the flipside, Information Technology and Utility sector shares outperformed, renewed demand for high-end AI chips helped First Solar gain 9.61%, Enphase +3.75%, Super Micro +3.31%. Meanwhile, independent power providers buoyed the Energy sector: AES +5.47%.
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  • Stocks are weaker but off midmorning lows, banks leading Wednesday morning's sell-off following an unexpected gain in Core CPI inflation data. Markets continued to digest the data that saw projected rate cuts scale back chances of a 50bp move at next week's FOMC policy announcement.
  • Currently, the DJIA trades down 464 points (-1.14%) at 40273.19, S&P E-Minis down 50.25 points (-0.91%) at 5453, Nasdaq down 62.7 points (-0.4%) at 16961.49.
  • Banks and financial services weighed on the Financial sector for the second day running amid ongoing concerns over interest income and credit challenges for lenders: Discover Financial Services -4.14%, Brown & Brown -3.29%, Blackrock -2.89%.
  • Despite a bounce in crude following Tuesday's rout, Energy sector shares continued to lag amid ongoing surplus overhang concerns: Valero and Marathon Petroleum -3.5%, APA -2.7%, Occidental Petroleum -2.22%.
  • On the flipside, Information Technology and Utility sector shares outperformed, renewed demand for high-end AI chips helped First Solar gain 9.61%, Enphase +3.75%, Super Micro +3.31%. Meanwhile, independent power providers buoyed the Energy sector: AES +5.47%.