News Formal

Wall Street gains fuel peso, stocks rebound

  • 📰 TheManilaTimes
  • ⏱ Reading Time:
  • 24 sec. here
  • 8 min. at publisher
  • 📊 Quality Score:
  • News: 34%
  • Publisher: 92%

Wall News

Street,Gains,Fuel

THE peso and the stock market posted a rebound on Wednesday following a two-day decline as sentiment rose on hopes that the US Federal Reserve (Fed) could cut interest rates more than once this year.

THE peso and the stock market posted a rebound on Wednesday following a two-day decline as sentiment rose on hopes that the US Federal Reserve could cut interest rates more than once this year.The currency strengthened by 7 centavos to P58.725:$1 while the benchmark Philippine Stock Exchange index climbed 1.43 percent, or 91.07 points, to close at 6,450.03.The broader All Shares index also rose, by 32.46 points or 0.94 percent, to 3,495.13.The peso opened at P58.

research and engagement officer Mikhail Plopenio, meanwhile, said the PSEi rose 'as investors hunted for bargains after a two-day decline.''Positive cues from Wall Street also fueled this Wednesday's climb with the bourse joining its neighboring peers in the green territory at the session's close,' he added.'Inflows from foreign funds gave the market a boost as foreigners were net buyers with net inflows amounting to P22.09 million.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in PH

Philippines Philippines Latest News, Philippines Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today (June 5, 2024): Asian stocks trade mixed after Wall Street logs modest gainsAsian shares traded mixed Wednesday, as investors weighed recent data highlighting a slowing U.S. economy that offers both upsides and downsides for Wall Street. Japan's benchmark Nikkei 225 shed 1.0% in early trading to 38,448.61. Australia's S&P/ASX 200 edged up 0.3% to 7,759.20. South Korea's Kospi jumped 1.2% to 2,695.02.
Source: BusinessMirror - 🏆 19. / 59 Read more »

Stock market today (June 19, 2024): Global stocks are mixed after Wall Street edges to more records | Zimo ZhongWorld stocks were mixed on Wednesday after U.S. benchmarks ticked to more records following the latest signs that the U.S. economy may be slowing without falling into recession. The future for the Dow Jones Industrial Average was down 0.1% while that for the S&P 500 rose 0.1%. U.S.
Source: BusinessMirror - 🏆 19. / 59 Read more »