NORGES: RATES PROBABLY AT CURRENT LEVEL QUITE SOME TIME

RATES MAY NEED TO BE ON HOLD LONGER THAN ENVISIONED: NORGES

MNI: NORGES BANK LEAVES RATES UNCHANGED AT 4.50%

MNI WATCH: CNB Seen Cutting 50Bps to 5.25%, Signal Slower Pace

MNI China Daily Summary: Tuesday, April 30

MNI BRIEF: China To Keep Tackling Risks In Real Estate, Debts

MNI: BAKER HUGHES US RIG COUNT 605; OIL RIGS 499; GAS RIGS 102

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RBA Data Watch

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

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

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

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Late Equities Roundup: Health Care, Communication Services Lagging

US STOCKS
  • Stocks are trading mixed in late trade, SPX see-sawing back near modest session lows. Currently, DJIA is up 5.19 points (0.01%) at 35460.95, S&P E-Mini futures down 1.75 points (-0.04%) at 4604.25, Nasdaq up 3.6 points (0%) at 14318.27.
  • Laggers: Health Care, Consumer Staples and Communication Services sectors underperform in the second half. Pharmaceuticals and Biotech shares weighed on Health Care: JNJ -4.25% after a judge rejected the companies effort to limit talc-related lawsuits over the weekend. Meanwhile, Waters Corp -4.15%, Mettler-Toledo -3.86% in the second half. Food and drink shares weighed on staples while T-Mobile -2.2% weighed on Communication Services after reporting mixed earning/guidance last Friday.
  • Leading gainers: Energy, Real Estate and Materials sectors outperformed Monday. Oil and Gas shares outperformed equipment/services providers as crude prices continued to gain (WTI + 1.20 at 81.78): Chevron +3.15%, Exxon +2.87%, Devon Energy +2.0%.. Metals and mining shares buoyed the Materials sector: Steel Dynamics +2.5%, Nucor +2.35%.
  • Technicals: E-mini S&P contract traded to a high of 4634.50 last Thursday before reversing. This highlights a possible short-term bearish signal. Price has found resistance at the top of a bull channel drawn from the Mar 13 low - the channel top is at 4643.65 today. An extension lower would expose the 20-day EMA - at 4534.05 and a break of this level would strengthen bearish conditions. Clearance of the channel top is required to resume the uptrend.
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