MNI: PBOC Net Drains CNY98 Bln Via OMO Thurs; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1305 Thurs; -0.79% Y/Y

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1305 THURS VS 7.1312

MNI NBP WATCH: Rates Held As 2024 Outlook Remains Hawkish

MNI BRIEF: ADP's Richardson Sees Pockets of Weakness in US Job Market

MNI: GERMANY MAY FACTORY ORDERS -1.6% M/M

MNI: SWISS JUN UNEMPLOYMENT -0.9% M/M, +22.8% Y/Y

Australia May Exports +2.8%; Imports +3.9%

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

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

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Late Equities Roundup: SPX Eminis Back Near Contract Highs

US STOCKS
  • Stocks are drifting higher in late Monday trade, S&P Eminis poised to overtake last Friday's contract high oo 4934.25. Currently, S&P E-Mini futures are up 14.25 points (0.29%) at 4930.75, Nasdaq up 92.9 points (0.6%) at 15548, DJIA up 45.52 points (0.12%) at 38155.12.
  • Leading gainers: Consumer Discretionary and Communication Services sectors outperformed in late trade. Auto makers buoyed the Discretionary sector for the second day running: Tesla up +3.2% after falling over -12% last Thursday on poor sales guidance and several downgrades, while parts maker Aptiv gained 0.94%. Meanwhile, interactive media and entertainment shares led Communication Services higher in the second half: Meta +1.61%, Disney +1.29%, Netflix +0.80%.
  • Laggers: Energy and Financial sector shares underperformed late Monday, oil and gas shares weighed on the former: OneOK -1.69%, APA Corp -1.43%, Coterra Energy -1.44% as crude pared last week's late gains (WTI currently -1.07 at 76.94). Meanwhile, insurance names weighed on the Financials sector: Arthur J Gallagher, Aon and Aflac all down appr 1.3%.
  • Looking ahead: flood of earnings announcements this week: Nucor Corp, Corning, Pfizer, UPS, GM, MSFT, Alphabet, Starbucks, Boeing, Boston Scientific. Mastercard, MetLife and Meta by Wednesday.
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