CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

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

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: 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.
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