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MNI: PBOC Net Injects CNY2 Bln Via OMO Thurs; Rates Unchanged

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INDON Sov Curve Steepens, BI Gov Hint At No Further Hikes

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

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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Equity Roundup: SPX Bounce, SPR Release

US STOCKS

Stocks trading steady/mixed, SPX eminis off lows and currently trading steady at 4596.0 amid partial knock-on bid from weaker crude (WTI appr 102.15) on Strategic Petroleum Reserve release annc (1M bbl/day for 6 months) and Month end rebalancing.

  • Still well bid for the week SPX extending the bull cycle that started Mar 15. Bullish conditions have been reinforced by the recent break of both the 20- and 50-day EMAs; key resistance at 4663.50, Jan 18 high.
  • On the flipside, initial firm support is at 4437.23, the 50-day EMA. A break would be seen as a bearish development.
  • Dow currently trades -129.34 points (-0.37%) at 35097.18, and Nasdaq -6.3 (0%) at 14434.68.
  • SPX leading/lagging sectors: Utilities sector gaining for second consecutive session (+0.50%), underpinned by independent power/renewable electricity producers. Real Estate sector (+.43%). Laggers: Communications Services sector underperforms (-0.83) lead by telecomm, media and entertainment.
  • Dow Industrials Leaders/Laggers: Big pharma Amgen (AMGN) +2.17 at 244.74, Honeywell (HON) +1.06 at 197.60. Home Depot continues to underperform, -4.70 at 303.76 while United Health (UNH) recedes -3.71 at 517.11.
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