MNI BRIEF: Caixin June Manufacturing PMI Hits Three-year High

MNI BRIEF: Japan Q1 GDP Revised Lower On Public Investment

MNI BRIEF: Business Inflation Expectations Solid - BOJ Tankan

MNI: PBOC Net Drains CNY48 Bln Via OMO Mon; Rates Unchanged

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

MNI: PBOC Sets Yuan Parity Lower At 7.1265 Mon; -0.32% Y/Y

Daily Average Exports Hold Close To Recent Highs, Trade Surplus Firms

CHINA JUNE CAIXIN MANUFACTURING PMI 51.8 VS 51.7 IN MAY

MNI: BOJ Tankan: Sentiment Rises, Solid Capex Plans, Backs BOJ

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: Off Lows, Chemicals, Consumer Staples Leading

US STOCKS
  • Stocks are inching off lows in late trade, S&P Eminis back near steady while Dow components outperform. Currently, DJIA is up 41.53 points (0.11%) at 38766.15, S&P E-Minis down 5 points (-0.1%) at 5187.5, Nasdaq down 30.2 points (-0.2%) at 16053.54.
  • Leading gainers: Materials and Consumer Staples sectors outperformed in late trade, chemical stocks buoyed the former: Albemarle +5.63%, Newmont +3.79%, FMC Corp +2.94%. Food and beverage shares supported staples: Molson Coors +2.62%, Tyson Foods +2.49%, Hershey +2.26%.
  • Industrial and Real Estate sectors underperformed in late trade: Capital goods shares weighed on the former: Howmet Aerospace -3.96%, Builders FirstSource -3.75%, Rockwell Automation -3.46%. Meanwhile, investment trusts, particularly industrial and specialized REITS weighed on the Real Estate sector: Equinix -2.2%, Digital Realty Trust -2.05%, Prologis -1.42%.
  • The trend condition in S&P E-Minis is bullish and the latest pullback is considered corrective. Last week’s fresh highs reinforce current conditions. Price action continues to highlight the fact that corrections are shallow - a bullish signal highlighting positive market sentiment. Support to watch is 5071.70 the 20-day EMA. A clear break of this average would open 4958.24, the 50-day EMA. Sights are on 5200.00 next.
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