CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

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 Equity Roundup: Inside Range, IT Outperforming

US STOCKS
  • Stocks hold mixed, off lows following this morning's weaker than expected JOLTS job openings data that rekindled projections of a rate cut in early 2024. At the moment, DJIA is down 77.91 points (-0.22%) at 36125.11, S&P E-Mini futures down 3 points (-0.07%) at 4573.25 while the Nasdaq is up 29.3 points (0.2%) at 14214.09.
  • Leading gainers: Information Technology and Consumer Discretionary sectors outperformed, hardware and storage makers buoyed the former: Apple +1.86%, MSI and Keysight Technology both +0.10%. Auto-makers continued to support the Consumer Discretionary sector with Tesla +1.23%, GM -0.51%.
  • Laggers: Materials and Energy sectors underperformed, metals/mining shares weighing on the former: Freeport-McMoRan -2.49%, Steel Dynamics -1.39%, Newmont Mining -1.31%. Meanwhile, energy and equipment stocks traded weaker: Baker Hughes -2.84%, Haliburton -2.57%, Schlumberger -2.52%.
  • A bullish theme in S&P e-minis remains intact and last Friday’s push higher is a positive development. The contract is trading closer to its recent highs and so far, corrections have been shallow. Note too that moving average studies are in a bull-mode position and this highlights positive market sentiment. A resumption of gains would signal scope for a climb towards 4690.75, the Aug 2 high. Initial support lies at 4596.86, the 20-day EMA.
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