MNI BRIEF: Foreign Firms Content In China

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: PBOC Sets Yuan Parity Lower At 7.1270 Fri; -0.95% Y/Y

CHINA PBOC CONDUCTS CNY358.05 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.1270 FRI VS 7.1321

1 and 3-Year Consumer Inflation Expectations Remain Unchanged

MNI: ECB 1-YEAR CONSUMER INFLATION EXPECTATIONS 2.8%

Unemployment Rate Steady As Labour Force Expands

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

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Late Equities Roundup: S&P Eminis New All-Time Highs

US STOCKS
  • Stocks surged to new all-time highs after the Federal Reserve held interest reates steady but projected three 25bp rate cuts by the end of this year. Currently, S&P E-Minis trades up 45.75 points (0.87%) at 5287.5 high, Nasdaq up 197.3 points (1.2%) at 16364.69, DJIA up 414.46 points (1.06%) at 39527.63.
  • Leading Gainers: Consumer Discretionary and Communication Services sectors outpaced Industrials and Financial sectors that led in the firs half. Car and parts makers buoyed the former with Ford +4.55%, GM +2.65% Borg Warner +2.5%. Interactive media and entertainment shares supported Communication Services in the second half: Paramount surged 8.9% after Apollo Global Management offered $11B to buy the former's Hollywood Studios. Warner Brothers +2.59%, Take Two Interactive +2.21%.
  • Laggers: Health Care and Energy sectors continued to underperform in late trade, pharmaceutical and biotech shares weighed on the former: Insulet -2.49%, AbbVie -1.95%, Moderna -1.78%. Oil and gas stocks traded weaker as crude prices remained under pressure at midday (WTI -1.70 at 81.77): Hess -1.37%, Chevron -0.88%, Diamondback Energy -0.37%.
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