MNI China Daily Summary: Monday, November 25

MNI: China CFETS Yuan Index Up 0.01% In Week of Nov 22

MNI: PBOC Net Injects CNY76.7 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Lower At 7.1918 Mon; -1.35% Y/Y

CHINA PRESS: Yuan To Reach 17% Of Global Payments By 2035

MNI: GERMANY NOV IFO BUSINESS CLIMATE INDEX 85.7

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK Bond Supply Calendar: Gilt Syndi; IT, EU Due Monday

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

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Late Equities Roundup: CrowdStrike Issues Continues to Weigh on IT

US STOCKS
  • Stocks remain weaker late Friday, near session lows the S&P Eminis and Nasdaq indexes are at early July levels while the Dow is near one week lows a day after marking a new all time high of 41,370.37.
  • Currently, the DJIA is down 375.97 points (-0.92%) at 40295.49, S&P E-Minis down 38.75 points (-0.69%) at 5556.25, Nasdaq down 128.1 points (-0.7%) at 17743.59.
  • Information Technology sector shares led laggers in the second half followed by Materials and Consumer Discretionary sectors. Outages for cloud software provider CrowdStrike saw share prices fall more than 15% to -11.46% at the moment as workaround solutions were implemented. The outage caused disruptions for other IT companies, however, including Intel -5.43%, EPAM Systems -4.06% and ON Semiconductors -4.19%.
  • Meanwhile, chemical stocks weighed on the Materials sector: FMC Corp -3.92%, PPG Ind -3.61%, Celanese -3.13%. Autos and parts makers weighed on Consumer Discretionary sector: Aptiv -4.6%, Tesla -4.16%, Ford -3.85% and Borg Warner -3.66%.
  • Conversely, Health Care and Communication Services sectors led gainers in late trade, equipment and servicer shares buoyed the former: Intuitive Surgical gained 8.4% reporting strong earnings late Thursday, Boston Scientific +2.28%, Abbott Labs +1.5%. Meanwhile, interactive media and services shares supported Communication Services: Meta +0.75, Google +0.25%.
  • Early Monday earnings announcements are expected from Verizon Communications, Truist Financial Corp and IQVIA Holdings. Monday afternoon earnings announcements from Nucor Corp, W R Berkley, Alexandria Real Estate, Crown Holdings and Cadence Design Systems.
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