MNI China Press Digest Aug 2: Hukou, Property, State Grid

MNI: PBOC Sets Yuan Parity Higher At 7.1376 Fri; -0.90% Y/Y

CHINA PBOC CONDUCTS CNY1.17 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.1376 FRI VS 7.1323

MNI CNB WATCH: Cut Pace Slows To 25Bps, Price Pressures Remain

MNI BRIEF: China Steel Market To Remain Subdued In August

Australia Jun New Loan Commitments +1.3% For Housing

More Detail On Today's CPI, BoK Likely On Hold Later In August

CPI Steady - Temporary Factors Driving For Now

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Equities Roundup: Regional Banks to the Rescue!

US STOCKS
Stocks remain well bid in early afternoon trade (SPX Eminis +58.0 at 4133.75), driven by a strong rebound in bank shares Friday. Main indexes are still well off Monday highs, driven in large part by JPM acquiring failed regional bank First Republic, as concerns over the strength of regional banks left markets skittish.
  • For example: PacWest Bank shares have surged over 82% Friday after falling more than 60% Thursday when they confirmed it was in talks with potential investors. Shares of Western Alliance Bancorp have bounced 40% Friday following Thursday's 50% decline after FT wrote an article saying the bank was "exploring strategic options including a potential sale of all or part of its business". Western Alliance categorically denied the article and shares bounced appr $7.0 off lows.
  • Through initial resistance of 4127.43 (20-day EMA) focus was on key resistance of 4206.25, Monday May 1 high. A clear breach of Monday's high puts focus on 4223.00 High Feb 14.
  • Quarterly earnings cycle resumes Monday: Tyson Foods and DISH Network before the open. The following shares report late Monday: Trex, Devon Energy, McKesson Corp, Lucid Group, Talos Energy, Diversified Healthcare Trust, Palantir Technologies, Western Digital Corp, International Flavors & Fragrances and PayPal Holdings.
HomepageEquitiesAT&T Market NewsBank of America Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.