BOC SAYS DOESN'T NEED TO ALTER PATH OF QT RIGHT NOW

this is a test, please ignore

MNI BRIEF: Text of Bank Of Canada Interest-Rate Decision

MNI China Daily Summary: Wednesday, July 24

MNI: PBOC Net Drains CNY203.9 Bln Via OMO Wednesday

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EZ/UK T-Bill Calendar: Italy, UK Auction on Friday

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

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Equities Roundup: SPX Off Four Week Lows, Energy Outperforming

US STOCKS
  • Stocks trading mixed in late morning trade, moderating UofM inflation expectations helped lift S&P futures off the lowest levels since July 11 this morning, after mixed PPI data weighed on risk sentiment earlier. Currently, DJIA shares are up 26.58 points (0.08%) at 35204.66, S&P E-Mini futures down 15 points (-0.33%) at 4471.25, Nasdaq down 104.4 points (-0.8%) at 13634.58.
  • Leading gainers: Energy and Health Care sectors outperformed. Oil and gas shares outpaced equipment and servicer names in the first half. Gainers included Occidental +2.5%, Volero +2.35%, APA +2.2% and Marathon +2.15%. Pharmaceuticals and Biotech shares led Health Care sector: Merck +1.5% Pfizer and Eli Lily both +1.4%.
  • Laggers: Information Technology and Communication Services sectors underperformed. Despite strong demand for AI applications, semiconductor makers weighed on IT as inventories of high performance chips evaporated. Shares of NXP -3.2, Applied Materials -2.75%, AMD -2.5% and Nvidia -2.35%. Media and entertainment shares weighed on Communication Services sector, Liv e Nation -2.2%, Paramount -1.75%, Disney -1.6%.
  • Technicals for SPX: Recent weakness resulted in a break of support at the 20-day EMA, following a failure at the top of the bull channel drawn from the Mar 13 low. This highlights a bearish development and the risk of an extension lower near-term. Attention is on 4461.63, the 50-day EMA ahead of 4445.52, bull channel support. Resistance to watch is 4560.75, Aug 4 high.
  • Sideline: Quarterly earnings winding down, next week's highlights include: Home Depot, Agilent Technologies, Target Corp, TJX Cos, Synopsys, Cisco Systems, Walmart, Applied Materials, Estee Lauder, Deere and Palo Alto Networks Inc.
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