MNI China Daily Summary: Friday, December 13

MNI BRIEF: PBOC To Curb Any Yuan Overshot : PBOC Zou

MNI: GERMANY OCT EXPORTS -2.8% M/M (VS FCST -2.6%)

CHINA YTD NEW LOANS CNY17.1 TRLN VS MEDIAN CNY17.5 TRLN: PBOC

MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Fri; -1.22% Y/Y

MNI: EUROZONE OCT IP +0% M/M, -1.2% Y/Y

MNI: SPAIN NOV HICP +0% M/M, +2.4% Y/Y

MNI: FRANCE NOV HICP -0.1% M/M, +1.7% Y/Y

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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US STOCKS: Extending Late Session Lows, Dow Underperforming

US STOCKS
USEquitiesNorth AmericaBulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets
  • Stocks are extending late session lows at the moment, the Dow underperforming as Utility and Consumer Discretionary sectors continue to weigh. Currently, the DJIA is down 488.05 points (-1.15%) at 41865.32, S&P E-Minis down 59.25 points (-1.02%) at 5741.5, Nasdaq down 209.7 points (-1.2%) at 17929.35.
  • There were no obvious headline drivers for the extension, likely program related as futures bounced slightly in late trade, focus on this week's CPI/PPI inflation measure, the September FOMC minutes and the start of the latest earnings cycle with Bank of NY Mellon, Wells Fargo, JP Morgan and Blackrock announcing Friday. 
  • Utilities and Consumer Discretionary sector shares continue to underperform in late trade, water and independent power providers weighing on the Energy sector early on: Vistra -6.54%, American Water Works -4.22%, NextEra Energy -3.53%. The Discretionary sector weighed by a mix of sporting goods, electronics and food related companies: Deckers Outdoor -5.76%, Garmin -4.53%, Ross Stores -4.12% and Dominos Pizza -4.01%.
  • Energy and Information Technology sector shares continued to lead gainers in late trade, oil & gas stocks supporting the Energy sector as crude prices continued to surge (WTI +2.84 at 77.21) as Mideast tensions remain unresolved. Diamondback Energy +2.72%, EOG +1.21%, Valero +0.87%. Leading late session gainers in the IT sector: Super Micro Computers surged 15.55% on strong GPU sales, Nvidia gained 3.84%, while Fair Isaac Corp gained 2.10%.
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  • Stocks are extending late session lows at the moment, the Dow underperforming as Utility and Consumer Discretionary sectors continue to weigh. Currently, the DJIA is down 488.05 points (-1.15%) at 41865.32, S&P E-Minis down 59.25 points (-1.02%) at 5741.5, Nasdaq down 209.7 points (-1.2%) at 17929.35.
  • There were no obvious headline drivers for the extension, likely program related as futures bounced slightly in late trade, focus on this week's CPI/PPI inflation measure, the September FOMC minutes and the start of the latest earnings cycle with Bank of NY Mellon, Wells Fargo, JP Morgan and Blackrock announcing Friday. 
  • Utilities and Consumer Discretionary sector shares continue to underperform in late trade, water and independent power providers weighing on the Energy sector early on: Vistra -6.54%, American Water Works -4.22%, NextEra Energy -3.53%. The Discretionary sector weighed by a mix of sporting goods, electronics and food related companies: Deckers Outdoor -5.76%, Garmin -4.53%, Ross Stores -4.12% and Dominos Pizza -4.01%.
  • Energy and Information Technology sector shares continued to lead gainers in late trade, oil & gas stocks supporting the Energy sector as crude prices continued to surge (WTI +2.84 at 77.21) as Mideast tensions remain unresolved. Diamondback Energy +2.72%, EOG +1.21%, Valero +0.87%. Leading late session gainers in the IT sector: Super Micro Computers surged 15.55% on strong GPU sales, Nvidia gained 3.84%, while Fair Isaac Corp gained 2.10%.