MNI: US NOV FINAL MANUF PMI 49.7 (FLASH 48.8); OCT 48.5

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

MNI: UK NOV FINAL MANUF PMI 48.0 (FLASH 48.6); OCT 49.9

MNI NBP WATCH: Another Policy Hold, Dovish Communications Tilt

MNI: PBOC Net Drains CNY216 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Lower At 7.1865 Mon; -1.50% Y/Y

EZ/UK T-Bill Calendar: Spain, Belgium, ESM Auction on Tuesday

EZ/UK Bond Supply Calendar: UK, Germany Auction on Tuesday

MNI: US OCT CONSTRUCT SPENDING +0.4%

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

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Equities Roundup: Off Lows, Mirroring Bounce in Tsys

US STOCKS
  • Stocks trading mildly higher - loosely mirroring a bounce in Tsys following a tweet from Pershing Square fund manager/CEO Bill Ackman has covered shorts in Tsys in light of "too much risk in the world to remain short." While that doesn't say much for risk sentiment, the bounce in rates and softer projected rate hike expectations does. Currently, S&P E-Mini futures are up 6 points (0.14%) at 4254.75, Nasdaq up 49.3 points (0.4%) at 13033.38, DJIA down 6.83 points (-0.02%) at 33120.92.
  • Leaders: Communication Services, Consumer Discretionary and Consumer Staples sectors outperformed, media and entertainment shares buoyed the former in early trade: IPG +2.09%, OMC +2.02%, META +1.0%. Hotel and leisure stocks lead the discretionary sector: MGM Resorts +3.72%, Wynn and Airbnb +3.45-3.5%.Meanwhile, Household/personal product makers and distribution shares supported Consumer Staples: Walgreens Boots +4.2%, Church & Dwight +1.03%, McCormick +1.0%.
  • Laggers: Energy, Materials and Utilities sectors underperformed in the first half, oil and gas shares weaker as crude traded lower (WTI -0.61 at 87.47): Occidental -3.5%, Chevron -2.2% (following news of $53B purchase of Hess Energy), Devon Energy -1.25%. Chemical shares weighed on Materials, particularly FMC -13.85% after announcing broadly weaker forward guidance and cost structure review. Meanwhile gas and electricity utility share traded weaker: ATO -0.52%, Exelon -1.93%, Eversource -1.36%, ATO -0.52%.
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