FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

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MNI: PBOC To Aim To Drive Inflation Higher- Advisors

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Late Equities Roundup: Hugging Lows, Oil & Gas Bounce on Geopol Risk

US STOCKS
  • Stocks remain near lows after gapping lower on this morning's higher than expected CPI inflation data squelched rate cut hopes over the next few Fed meetings. Currently, DJIA is down 559.06 points (-1.44%) at 38322.09, S&P E-Minis down 68.75 points (-1.31%) at 5191.25, Nasdaq down 192.2 points (-1.2%) at 16113.5.
  • Laggers: Reversing direction after leading gainers yesterday, Real Estate and Utilities continued to underperform in late trade, estate management and investment trusts weighed on the former: Extra Space Storage Inc -6.82%, SBA Communications -6.40%, Boston Properties -6.28%. Independent power and water utilities weighed on the latter: AES -4.48%, American Water Works -3.43%, Pinnacle West -3.22%.
  • Leading Gainers: Energy and Communication Services outperformed in late trade, oil and gas shares gained as crude prices rallied on renewed chatter over Middle East tensions: Marathon +1.25%, Pioneer Natural Resources +1.08%, EOG Resources +0.91%. Interactive media and entertainment shares up next: Meta +0.46%, Netflix +0.16%, Google -0.16%, Disney -0.86%
  • Reminder, the next quarterly earnings starts in earnest late this week with JP Morgan, BlackRock, Wells Fargo, State Street and Citigroup reporting Friday, April 12.
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