MNI China Daily Summary: Wednesday, July 3

MNI BRIEF:BOJ Q1 Output Gap Hits 16th Negative Reading In Row

MNI: PBOC Sets Yuan Parity Higher At 7.1312 Weds; -0.34% Y/Y

MNI: PBOC Net Drains CNY248 Bln Via OMO Weds; Rates Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1312 WEDS VS 7.1291

MNI: US MAY TRADE GAP -$75.1B VS APR -$74.5B

MNI: US JOBLESS CLAIMS +4K TO 238K IN JUN 29 WK

MNI: CANADIAN MAY TRADE BALANCE CAD -1.9 BILLION

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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Extending Gains, Nasdaq Marks New All-Time-High

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  • Risk appetite not dampened by Friday's employment data risk as stocks continue to gain. Nasdaq marking new all-time-high of 17099.48. Meanwhile, S&P Eminis climbing to 5347.25 session high -- not far off all-time-high of 5368.25 on May 23, DJIA around 38,780.0 still off May 17 all-time-high of 40,003.59.
  • Information Technology and Communication Services sectors continue to lead gainers in the second half, semiconductor makers and cyber security shares supporting the former.

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  • Risk appetite not dampened by Friday's employment data risk as stocks continue to gain. Nasdaq marking new all-time-high of 17099.48. Meanwhile, S&P Eminis climbing to 5347.25 session high -- not far off all-time-high of 5368.25 on May 23, DJIA around 38,780.0 still off May 17 all-time-high of 40,003.59.
  • Information Technology and Communication Services sectors continue to lead gainers in the second half, semiconductor makers and cyber security shares supporting the former.