MNI China Daily Summary: Monday, April 29

MNI BRIEF: China Pushes Back Against Japan's Semiconductor Threat

MNI: China CFETS Yuan Index Down 0.33% In Week of Apr 26

MNI: PBOC Conducts CNY2 Bln Via OMO Mon; Liquidity Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1066 Mon; -4.49% Y/Y

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS MON

April Inflation: Services Decelerate, Core Goods Likely Soft

MNI: GERMANY APR CPI +2.2% Y/Y

Core CPI Outlook: Services Softens, Energy Uptick Underwhelms

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

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

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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Stocks Inch Higher Ahead of Biden Stimulus Speech

EQUITIES

In line with futures, cash equities have opened higher in the US, with the S&P500 posting early gains of 0.2% while both the Dow and NASDAQ outperform modestly with gains of 0.5% or so.

Energy and industrials trade well in early trade while the utilities and consumer staples sectors are the laggards. Earnings are an early driver, with BlackRock one of the poorest performers on the back of a disappointing report - shares are off 2.4% (although most are pinning the drop on profit-taking rather than any fundamental flaws in their earnings).

For the e-mini S&P, today's high of 3,817.75 was just 8 points shy of the alltime highs printed on Jan8, which may come into play headed into Biden's stimulus address at 1915ET.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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