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MNI China Daily Summary: Thursday, July 25

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

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Japan Tokyo Jul Core CPI +2.2% Y/Y

MNI JAPAN JULY TOKYO CORE CPI +2.2% Y/Y; JUNE +2.1%

EZ/UK Bond Supply Calendar: BoE Short APF Operation on Monday

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

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Late Equity Roundup: Energy, IT Shares Outperform

US STOCKS
  • Stocks are breaching early session highs in late trade after recovering from post-NFP knee-jerk selling: at the highest level since early August S&P E-Mini futures are up 20.5 points (0.45%) at 4610, Nasdaq up 75.4 points (0.5%) at 14415.48, DJIA up 138.46 points (0.38%) at 36255.2.
  • Leading gainers: Energy and Information Technology sector shares lead gainers in the second half, gas storage and transportation shares outpaced equipment and service shares: Targa Resources +1.96%, Williams +1.63%, ONEOK +1.43%.
  • Meanwhile, Information Technology sector shares followed: Qorvo +4.07%, Nvidia +2.31% and Micron +2.25%. Earlier, construction/building product shares had supported Industrials: Allegion +5.47%, Carrier Group +3.86% (anncd sale of security division for appr $5B to Honeywell).
  • Laggers: Consumer Staples, Utilities and Real Estate sectors continued to underperform, household/personal product makers weighed on the former: Kimberly-Clark -1.51%, Estee Lauder -1.49%, Church & Dwight -1.36%.
  • Electricity/gas providers weighing on Utilities: Alliant Energy -1.12%, Atmos Energy -107%Xcel Energy -1%. Real Estate Investment Trusts, particularly office and specialized REITs weighed on Real Estate: SBA Comm -2.84%, Alexandria Real Estate -2.04%, Boston Properties -0.68%.
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