MNI EM China Daily Summary: Monday, March 25

MNI BRIEF: China Expands Austrian Pork Import Scope

MNI BRIEF: China To Boost Consumption With Lower Mortgage Rate

MNI: PBOC Injects Net CNY40 Bln Via OMO Mon; Rates Unchanged

CHINA PBOC INJECTS CNY50 BILLION VIA 7-DAY REVERSE REPOS MON

MNI: PBOC Sets Yuan Parity Lower At 7.0996 Mon; -5.53% Y/Y

Week Ahead

MNI: UK CBI MAR DIST TRADE REPORTED SALES 2

NBH Data Watch

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

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

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Equity Roundup: Narrow Range, Nasdaq Outperforming

US STOCKS

Stock indexes trading mildly weaker for the most part, Nasdaq outperforming, skittish trade ahead Fri's July employment data and ongoing earnings releases after the bell. Currently, SPX eminis trades -1.5 (-0.04%) at 4154.25; DJIA - 65.31 (-0.2%) at 32747.34; Nasdaq +12.3 (0.1%) at 12680.54.

  • Earnings releases mixed: WeWork Inc (WE) -$0.76 vs. -$0.582 est, Cigna (CI) $6.22 vs. $5.482 est, Eli Lilly (LLY) $1.25 vs. $1.686 est, Bally's Corp (BALY) $0.98 vs. $0.191 est
  • After the close: Vertex Pharmaceuticals (VRTX) $3.514 est, Expedia (EXPE $1.530 est, Corteva Inc (CTVA) $1.479 est, Amgen (AMGN) $4.402 est.
  • Technicals: SPX futures continue to reinforce bullish conditions. Conditions remain bullish. The break of Monday’s 4147.25 high confirms a resumption of recent gains and maintains a bullish price sequence of higher highs and higher lows. This opens 4204.75 next, the May 31 high and the next key resistance. On the downside, initial trend support has been defined at 3913.25, the Jul 26 low. A break would highlight a possible reversal.
  • SPX leading/lagging sectors: Utilities (+0.73%), Materials (+0.54%), Industrials (+0.44%). Laggers: Energy sector continues to underperform (-2.22%), followed by Consumer Staples (-0.57%) and Health Care (-0.36%).
  • Dow Industrials Leaders/Laggers: Visa (V) +4.87 at 213.35, Caterpillar bounces back from Wed selling (CAT) +2.06 at 184.93, Home Depot (HD) +1.61 at 307.98. Laggers: United Health (UNH) -7.10 at 533.55, McDonalds (MCD) -3.16 at 258.93, Chevron (CVX) -2.46 at 152.90, Walmart (WMT) -2.54 at 127.96.
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