MNI BRIEF: Chinese Aluminium Exporters To Renegotiate Prices

MNI BRIEF: BOJ October Real Export Index Falls 4.9% M/M

MNI: PBOC Net Injects CNY69.1 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Higher At 7.1935 Weds; +0.09% Y/Y

CHINA PBOC CONDUCTS CNY302.1 BLN VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1935 WEDS VS 7.1911

MNI: GERMANY OCT PRODUCER PRICES -1.1% Y/Y

MNI: UK OCT CPI +0.6% M/M, +2.3% Y/Y

Japan Oct Exports +3.1% Y/Y; Imports +0.4% Y/Y

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

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Equities Roundup: Off Early Highs, Hardware/Software Makers Weighing

US STOCKS
  • Stocks are trading mixed after paring early gains - the Dow marking new all-time high of 41,370.37 after the open. While the tech sector continued to weigh, headlines from Axios and Reuters discussing the potential for President Biden of not running for reelection coincided with the drop in index prices.
  • Currently, the DJIA is up 146.86 points (-0.36%) at 41050.95, S&P E-Minis down 36.25 points (-0.64%) at 5602, Nasdaq down 195.4 points (-1.1%) at 17800.52.
  • Information Technology and Health Care sectors underperformed in the first half, the former weighed down by hardware and software makers rather than chip makers for a change: Crowdstrike -2.85%, Super Micro Computer and Cadence Design Systems both -2.45%, Western Digital -1.96%. Pharmaceutical stocks weighed on the Health Care sector: Eli Lilly -5.14%, Merck -1.80%, Revvity -0.96%.
  • Energy and Real Estate sectors led gainers in early trade, oil and gas shares trading firmer: Kinder Morgan +3.85%, APA Corp +2.70%, Coterra +1.69%. Meanwhile, investment trusts buoyed the latter, particularly residential and retail REITS: Prologis + 1.66%, Camden Property and Vici Properties both +1.59%, Kimco +1.30%.
  • Note, after reporting earnings this morning, M&T Bank +3.52%, KeyCorp -2.10%, Blackstone +1.74%, Domino's Pizza down a whopping 12.43% while DR Horton surged 10.67% higher.
  • Upcoming earnings: Netflix, PPG industries and Western Alliance Bancorp late Thursday; Fifth Third, Regions Financial, Comerica, American Express and Huntington Friday.

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