MNI China Daily Summary: Friday, January 3

MNI China Press Digest Jan 3:RRR Cut Mooted, Yuan, Consumption

MNI BRIEF: Beijing Boosts Consumer Trade-ins To Cellphones

MNI: PBOC Net Drains CNY88.5 Bln via OMO Fri

MNI: PBOC Sets Yuan Parity Lower At 7.1878 Fri; -2.29% Y/Y

MNI China Daily Summary: Thursday, January 2

MNI: UK NOV M4 MONEY SUPPLY +0% M/M, +2.9% Y/Y

MNI: UK BOE NOV MORTGAGE APPROVALS 65,720

MNI: TURKEY DEC CPI +1.03% M/M

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EQUITIES: Stocks Surge in First Hour, Hardest Hit Names Stage a Bounce

EQUITIES
EquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

Having posted solid volumes in pre-cash trade, price action is really picking up, with the rally since the opening bell putting the e-mini S&P back into positive territory on the day despite further weakness across the European morning.

  • 6005.25 marks a key intraday upside level (yesterday's highs) - which coincides well with the 50% retracement of the post-Fed decision range. The index need to gain a further ~130 points thereafter to put the index flat from the FOMC policy announcement.
  • Real estate, healthcare and financials names are leading the bounce, meaning the hardest-hit names so far this week are posting the biggest gains Friday. The price action may also reflect growing sentiment that a government shutdown stopgap can be reached before the worst effects of a government shutdown take hold: the latest newsflow suggests House Republicans have drafted a new spending package and will take it through the Rules Committee just after 11:00 ET 16:00 GMT.
154 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Having posted solid volumes in pre-cash trade, price action is really picking up, with the rally since the opening bell putting the e-mini S&P back into positive territory on the day despite further weakness across the European morning.

  • 6005.25 marks a key intraday upside level (yesterday's highs) - which coincides well with the 50% retracement of the post-Fed decision range. The index need to gain a further ~130 points thereafter to put the index flat from the FOMC policy announcement.
  • Real estate, healthcare and financials names are leading the bounce, meaning the hardest-hit names so far this week are posting the biggest gains Friday. The price action may also reflect growing sentiment that a government shutdown stopgap can be reached before the worst effects of a government shutdown take hold: the latest newsflow suggests House Republicans have drafted a new spending package and will take it through the Rules Committee just after 11:00 ET 16:00 GMT.