MNI China Daily Summary: Tuesday, April 30

MNI BRIEF: China To Keep Tackling Risks In Real Estate, Debts

MNI BRIEF: China Politburo Flags Policy Support; 3rd Plenum In July

MNI WATCH: CNB Seen Cutting 50Bps to 5.25%, Signal Slower Pace

MNI BRIEF: Caixin Apr Manufacturing PMI Hits Over One-year High

MNI BRIEF: China April Mfg. PMI Moderates To 50.4

Strong Q1 GDP Print Consistent With Survey Outperformance

GDP Bounces On Construction / Exports; Weaker End-2023 On Revisions

MNI: ITALY APR FLASH HICP +0.6% M/M, +1% Y/Y

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 Return Higher, Tech/Growth Leads Bounce

EQUITIES
  • During the final session of the month, equity markets across Wall Street traded higher, with tech and growth names leading the bounce, prompting outperformance in the NASDAQ relative to S&P 500 and Dow Jones Industrial Average.
  • The NASDAQ 100 now trades close to 8% off last week's lows, and is again narrowing in on the 200-dma. This sentiment was echoed across the S&P 500, with consumer discretionary and tech sectors ripping higher. The gains were led by some of the most oversold stocks of recent weeks, with Tesla, Netflix, AMD and NVIDIA all sharply higher.
  • The risk-on appetite was reflected in the underperformance for value stocks and defensive sectors, leading healthcare and consumer staples to underperform - sitting at the bottom of the pile in the S&P 500.
  • The progression of earnings season remains a focus, with Meta (Facebook), Alphabet (Google) and Amazon all due in the coming days. Full earnings schedule including expectations and timings here: https://marketnews.com/mni-us-earnings-schedule-sp...

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Homepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange BulletsAT&T Market NewsBank of America Market News

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