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MNI BOJ DEC TANKAN LARGE MFG INDEX +14; SEPT 13; MEDIAN +12

MNI: SPAIN NOV HICP +0% M/M, +2.4% Y/Y

MNI: FRANCE NOV HICP -0.1% M/M, +1.7% Y/Y

MNI: SWEDEN NOV UNEMPLOYMENT 7.4%

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: Utilities, IT Shares Underperforming

US STOCKS
  • Stocks drifting near midday session lows following this morning's weaker than expected consumer confidence and home sales data. Apprehension ahead a likely US government shutdown this Saturday also spurred position unwinds. Currently, the DJIA is down 286.9 points (-0.84%) at 33720.87, S&P E-Mini Future down 46.5 points (-1.06%) at 4332.25, Nasdaq down 142.2 points (-1.1%) at 13129.43.
  • Laggers: Utilities, Information Technology and Real Estate underperformed Tuesday, electric and multi energy providers weighed on the former: Edison Int -2.42%, Constellation Energy -2.25%, NextEra Energy -2.0%. Tech and hardware makers weighed on the IT sector: Amphenol -2.4%, CDW and Corning both -2%.
  • Meanwhile, Real Estate Investment Trusts (REITS), particularly health care and industrial, weighed on R/E management: Welltower -2.45%, Ventas -1.75%, Prologis -1.75%.
  • Leaders: Energy, Health Care and Consumer Staples sectors outperformed, oil and gas exploration stocks led gainers: EOG Resources +1.25%, APA and Pioneer Natural Resources both +1%.
  • Pharmaceuticals and biotech shares buoyed the Health Care sector: Gilead Sciences +1.25%, Incyte Corp +1.17%, IQVIA +0.8%. Consumer Staples led by distribution/retail names: Dollar Tree +0.55%, Walmart steady.
  • Of note, broadline retailer Amazon in the news after the Federal Trade Commission, and 17 state attorneys general, have filed a large-scale antitrust lawsuit against tech giant Amazon. Washington Post reports that the suit, "seeks to bar the company from allegedly abusing its powers to raise prices for shoppers and levy high fees against businesses that sell on its platform."
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