MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1843 Weds; -1.22% Y/Y

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

MNI: US MBA: MARKET COMPOSITE +5.4% SA THRU DEC 06 WK

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

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

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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Equities Roundup: Paring Early Gains Post UofM Data, Still up on Week

US STOCKS
  • Stocks have reversed early gains following the higher than expected UofM inflation expectations and weaker consumer sentiment, currently steady to mixed with Information Technology and Financials outperforming. Currently, the DJIA is up 79.64 points (0.2%) at 39465.62, S&P E-Minis up 1.75 points (0.03%) at 5241.0, Nasdaq down 23.6 points (-0.1%) at 16322.75.
  • Leading Gainers: IT and Financial sectors outperformed in the fist half. Semiconductor makers generally outperformed in the first half with Broadcom +1.91%,m Micron +1.44%, Applied Materials +1.22%. But cyber security provider Gen Digital soared 15.34% after better than expected earnings announced late Thursday. Shares of banks and insurance companies buoying the former: Invesco, Brown & Brown and BlackRock all up 1.30-1.25%, AON +1.08% while Arthur Gallagher +1.04%.
  • Laggers: Communication Services and Consumer Discretionary sectors underperformed in the first half, interactive media and entertainment weighed on the communication sector: Live Nation -1.89%, Google -1.35%, Meta -0.95%. Meanwhile, auto makers weighed on the discretionary sector: Tesla -2.29%, Ford -0.95% while parts maker Aptiv declined 0.65%.
  • Late cycle earnings releases expected next week include: Home Depot, CIsco, B Riley, Walmart, Deere & Co, Applied Materials and Take Two Entertainment.
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