S&P futures are indicating a higher open today, up +0.13%. Asian markets finished Monday trading mixed, and European equity markets are also mixed in early trades. For today's highlight, the PBOC left the MLF rate unchanged while draining a net CNY101B after a delayed operation. The yuan's midpoint fixing is the strongest since mid-June, with policymakers focusing on preventing sharp appreciation. Economists have lowered their 2024 forecasts for China's inflation, investment, and consumption due to weak domestic demand, despite expected rate cuts. Retail sales growth is projected at 4%, the lowest outside the pandemic, and fixed asset investment is down to 4.2%. The CPI forecast is reduced to 0.5%.
Companies Mentioned: Intel (NASDAQ:INTC), Visa (NYSE:V), Carlyle, Blackstone (NYSE:BX), Paramount Global (NASDAQ:PARA), Coupang (NYSE:CPNG)