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Free AccessMNI BRIEF: China May Inject CNY1 Trln To Replenish Big Banks
Late Equities Roundup: Gains Pared After Tsy Borrow Estimate Increase
- Stocks reversed course, extend lows briefly before recovering slightly after the Tsy raises April-June borrow estimates to $243B from $202B. Not a big move for stocks, more caution in lead up to Wednesday's FOMC and jobs report this Friday. Currently, DJIA is up 76.31 points (0.2%) at 38317.08, S&P E-Minis up 0.25 points (0%) at 5132, Nasdaq up 6.1 points (0%) at 15934.19.
- Leading gainers: Consumer Discretionary and Utilities sector shares continue to outperform in late trade, EV maker Tesla +14.27% and parts makers Aptiv +1.32%, Borg Warner +1.21% supported the Discretionary sector. Utilities were supported by independent power and electricity providers: NextEra Energy +2.09%, First Energy +1.32%, Dominion +1.29%.
- Laggers: Communication Services and Financials sectors underperformed late: unwinding a portion of Friday's rally, Google receded -3.76%, Meta -3.22%, Netflix -1.09%. Financial Services shares underperformed late: Franklin Resources -5.96%, Invesco -2.32%, T Rowe Price -2.16%.
- Expected corporate earnings announcements after today's close: SBA Communication, Paramount Global, Welltower and Transocean. the pace picks up Tuesday: Coca-Cola, Molson Coors, Sirius XM, McDonalds, Corning, PACCAR, Martin Marietta Materials, 3M, American Tower, GE Health, Sysco, Eli Lilly, PayPal Holdings, Archer-Daniels-Midland, Eaton Corp, Stryker, Prudential Fncl, ONEOK, Boston Properties, Diamondback Energy, Public Storage, Pinterest, Amazon, Starbucks, Advanced Micro Designs, Super Micro Computer.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.