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 China Daily Summary: Tuesday, July 2

Australia May Total Dwelling Approved +5.5%

Australia May Retail Trade +0.6%

MNI: AUSTRALIA MAY RETAIL SALES +0.6% M/M

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: Narrow Range, S&P Eminis Not Far Off Highs

US STOCKS
  • Stocks are trading near steady to mixed, Dow shares trading weaker ahead midday Friday, S&P Eminis not far off Thursday's all-time high of 5322.75. Currently, S&P E-Minis trades down 7.75 points (-0.15%) at 5295.5, Nasdaq up 4.6 points (0%) at 16407.71, DJIA down 172.05 points (-0.43%) at 39611.67.
  • Leading Gainers: Communication Services and Information Technology sectors outperformed in the first half, media and entertainment shares buoyed the former as they recovered from better selling on Thursday: Google +2.45%, Match Group +0.92%, Netflix +0.64%. Semiconductor stocks supported IT: Nvidia +2.37%, Broadcom +1.6%, Qualcomm +0.3%.
  • Laggers: Real Estate and Consumer Discretionary sectors underperformed in the first half, Real Estate investment trusts and estate management shares weighed on the former: Kimco 2.64%, Boston Properties -2.3%, Alexandria Real Estate -1.87%. Meanwhile, not automakers but consumer apparel stocks weighed on the Consumer Discretionary sector: Lululemon -17.5% after beating Q4 earnings estimates but weak outlook and slow US store traffic weighed. Similarly, NIKE trades -7.93% while VF Corp -4.02%.
  • Emini technicals: The trend condition in S&P E-Minis remains bullish and this week’s extension reinforces this theme. The break of 5257.25, Mar 8 high, confirms a resumption of the uptrend and maintains the price sequence of higher highs and higher lows. MA studies are in a bull-mode position reflecting positive market sentiment. Sights are on 5379.92, the top of a bull channel drawn from the Jan 17 low. Initial firm support is at 5196.99, the 20-day EMA.
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