MNI China Press Digest July 15: Consumption, Exports, FDI

MNI: PBOC Conducts CNY100 Bln Via 1Y MLF; Rates Unchanged

CHINA PBOC CONDUCTS CNY129 BILLION VIA 7-DAY REVERSE REPOS MON

MNI: PBOC Sets Yuan Parity Lower At 7.1313 Mon; -1.35% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1313 MON VS 7.1315

MNI BRIEF: China June M2 SlowsTo Record Low For Third Month

CHINA JUN INDUSTRIAL OUTPUT +5.3% Y/Y VS MEDIAN +5.0% Y/Y: NBS

CHINA Q2 2024 REAL GDP +4.7% Y/Y VS MEDIAN +5.0% Y/Y: NBS

House Price M/M Falls Pared, But Still Some Distance From Positive Territory

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, Consumer Disc, IT Sectors Outperforming

US STOCKS
  • Stocks trading mixed/off lows, weaker DJIA underperforming S&P and Nasdaq indexes at midday. The week's corporate earnings ran their course this morning, oil stocks weaker after Chevron, Exxon Mobil, Phillips 66 all missed est's after weaker Q3 profits. Currently, DJIA is down 187.41 points (-0.57%) at 32602.8, S&P E-Mini futures down 0.5 points (-0.01%) at 4156.25, Nasdaq up 114.3 points (0.9%) at 12711.53.
  • Laggers: Energy and Health Care sectors underperformed in the first half, oil and gas shares weighed on the former: Chevron -5.56%, Hess Energy -5.15%, EQT Corp -2.75%.
  • Pharmaceutical and biotech shares weighed on the Health Care sector: Bio-Rad -7.46%, AbbVie -5.23% (despite beating earnings ests and hiking Q4 guidance), Moderna and Bristol-Myers both -3.38%.
  • Leaders: Recovering from midweek selling, Consumer Discretionary and Information Technology sectors outperformed in the first half, broadline retailers buoyed the former: Amazon +8.4% after beating Q3 estimates and raising forward guidance late Thu), Estsy +2.02% while CarMax gained 1.61%.
  • Chip stocks buoyed the IT sector: Intel +9.35% also after beating Q3 estimates and raising forward guidance late Thu, Juniper Networks +6.65%, Seagate +4.45%.
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