MNI: US DEC FINAL MANUF PMI 49.4 (FLASH: 48.3); NOV: 49.7

US MBA: REFIS -36% SA; PURCH INDEX -13% SA IN 2-WKS THRU DEC 27

MNI China Daily Summary: Thursday, January 2

MNI China Press Digest Jan 2: Domestic Demand, Debt, Housing

CHINA DEC CAIXIN MANUFACTURING PMI 50.5 VS 51.5 IN NOV

MNI: PBOC Net Drains CNY273.8 Bln via OMO Thurs

US EIA: CRUDE OIL STOCKS EX SPR -1.18M TO 415.6M DEC 27 WK

MNI: US NOV CONSTRUCT SPENDING +0.0%

MNI: US JOBLESS CLAIMS -9K TO 211K IN DEC 28 WK

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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Late Equities Roundup: Testing Session Lows Post FOMC

US STOCKS
  • Stocks are weaker late Wednesday, near lows after the Fed left rates steady yet again, while Chairman Powell poured cold water on current chances of a rate cut at the next FOMC on March 20. Currently, the DJIA is down 294.34 points (-0.77%) at 38174.96, S&P E-Mini futures are down 75.5 points (-1.52%) at 4875.75, Nasdaq down 320.3 points (-2.1%) at 15191.4.
  • Laggers: Communication Services and Information Technology sectors led laggers for the second day running, interactive media and entertainment shares weighed on the former: Alphabet -6.9% after disappointing ad revenue annc, Meta -1.89%, Charter Communications -1.557%. Software and services weighed on the IT sector late: Roper Technologies -4.24%, Fortinet -2.64%, Intuit -2.39%.
  • Couple notable mentions: NY regional bank shares came under pressure after New York Community Bancorp fell over 40% on the open cut it's dividend after posting a loss on purchase of collapsed Signature Bank shares. While KBW Regional Banking Index was nearly -4%, larger banks traded firm.
  • On the flipside, shares of Boeing gained 5.1% after the CEO tried to get out in front of ongoing safety issues and efforts to improve waning confidence. Boeing declined to provide 2024 guidance after Q4 earnings, cash flow and revenue all surpassed analysts’ expectations this morning.
  • Leading gainers: Health Care and Utility sectors outperformed late, equipment and services names buoyed the former: Stryker +6.92%, Edwards Lifesciences +6.54% while Cencora gained 5.24%. Meanwhile, multi energy and electricity providers supported the Utility sector: DTE Energy +0.73, Dominion +0.20%
  • Looking ahead: corporate earnings docket after the close: MetLife and Qualcomm. Already annc'd: Boston Scientific, Phillips 66, Thermo Fisher, Old Dominion, Boeing, Mastercard, Hess Corp. On tap for Thursday: International Paper, Call Corp, Stanley Black & Decker, Honeywell, Sirius XM, Apple, Merck, Eaton Corp,
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