MNI BRIEF: China State Planner To Increase Trade-in Support

MNI China Daily Summary: Thursday, July 25

MNI BRIEF: Japan Govt Keeps Econ View, Cuts Exports

MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut

MNI: PBOC Sets Yuan Parity Lower At 7.1321 Thurs; -1.92% Y/Y

CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

Core Goods Pipeline Pressures Pick Up On 3m/3m Basis

Aircraft-Led Durables Collapse Masks Rebound In Core Orders

MNI: BELGIUM JUL BNB BUSINESS SURVEY -12.3

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

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Late Equity Roundup

US STOCKS
  • Stocks drifting back near session lows after the FI close, Real Estate and Consumer Discretionary sectors underperforming. At the moment: DJIA is down 233.5 points (-0.61%) at 37482.98, S&P E-Mini future down 35.5 points (-0.69%) at 4752.0, Nasdaq down 151.1 points (-1%) at 14614.83.
  • Laggers: Real Estate and Consumer Discretionary sector shares underperforming, estate services shares weighing on the former: CBRE -4.4% after downgrade from Evercore, CoStar Group -2.84%. Autos and parts makers weighed on the Consumer Discretionary sector: Aptiv -6.23% following a downgrade by Baird, Borg Warner -5.2%, Tesla -3.7%, Ford -3.08%.
  • Leading gainers: Energy sector shares supported by oil and gas refiners that rallied traded strong with crude prices holding gains (WTI +2.55 at 72.93): Marathon Petroleum +4.78%, Valero +3.0%. Equipment and services shares also helped buoy Energy shares in the first half: Haliburton and Schlumberger both +1.5%, Baker Hughes +0.35%. Meanwhile telecom shares buoyed Communication Services: Verizon +0.87%, T-Mobile +0.03%.
  • Reminder, the next quarterly earnings cycle starts in earnest next week Friday with UnitedHealth, BlackRock, Bank of America, Wells Fargo, JPMorgan, Citigroup and Bank of NY Mellon.
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