MNI BRIEF: Japan July Tokyo Core CPI Rises 2.2% Vs. June's 2.1%

MNI BRIEF: Treasury's Yellen: Inflation Moving To Fed's Target

MNI BRIEF: China State Planner To Increase Trade-in Support

MNI China Daily Summary: Thursday, July 25

MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut

MNI: PBOC Sets Yuan Parity Lower At 7.1321 Thurs; -1.92% Y/Y

Japan Tokyo Jul Core CPI +2.2% Y/Y

MNI JAPAN JULY TOKYO CORE CPI +2.2% Y/Y; JUNE +2.1%

EZ/UK Bond Supply Calendar: BoE Short APF Operation on Monday

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

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Equities Roundup: Utilities, Real Estate Outperforming

US STOCKS
  • Stocks hold marginal gains, near the middle of a narrow session range as markets await the FOMC policy announcement that includes the Summary of Economic Projections at 1300ET. Fed Chairman Powell press conference follows at 1430ET. Currently, DJIA trades is up 7.77 points (0.02%) at 36586.89, S&P E-Mini future up 4.75 points (0.1%) at 4702.5, Nasdaq up 9.8 points (0.1%) at 14544.61.
  • Leading gainers: Utilities and Real Estate sectors led gainers in the first half, gas and multi-energy providers supporting the former: WEC Energy +1.87%, FirstEnergy Corp +1.78%, Edison International +1.66%. Real Estate Investment Trusts (REITs) buoyed the latter with industrial and residentials leading: Prologis +1.9%, Avalon Bay +1.92%, Essex Property +1.82%.
  • Laggers: Materials and Consumer Discretionary sectors underperformed, industrial gas providers weighing on the former: Linde -4% to around 409.6 after climbing to all-time high of 433.53 Tuesday. Air Products down a scant .25% in comparison. Auto makers and parts providers weighed on the Discretionary sector: Tesla -2.76%, Ford -2.51%, Aptiv -1.42%.
  • A bullish theme in S&P e-minis remains intact and the contract has traded to a fresh high this week. The break higher confirms once again a resumption of the uptrend and maintains the bullish price sequence of higher highs and higher lows. Note too that moving average studies are in a bull-mode position, highlighting positive market sentiment. Sights are on 4738.50, the Jul 27 high and a key resistance. Initial support is 4602.23, the 20-day EMA.
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