The bullish movement in the stock market is gaining speed, and Bitcoin ETFs are closer than they might seem. What do we need to know for the next trading week?
Philippines equities slump at close of trade
On Thursday, Philippines shares dived after the close because losses in the Mining & Oil, Holding Firms as well as Property sectors suppressed equiites.
The PSEi Composite went down 0.60%.
On the PSEi Composite the best performance was demonstrated by such benchmarks as GT Capital Holdings Inc, Security Bank Corp and Robinsons Land Corp. They went up 2.15%, 2.05% and 1.73% respectively.
Meanwhile, the losers were represented by Semirara Mining Corp, JG Summit Holdings Inc and Petron Corp. They inched down respectively 5.11%, 4.75% and 2.70%.
Declining equities outnumbered growing shares on the Philippines Stock Exchange by 105 to 91, while 50 stood still.
The currency pair CNY/PHP gained 0.05% reaching 7.6680, USD/PHP managed to soar 0.02% being worth 51.000.
The US Dollar Index Futures headed south 0.03% demonstrating an outcome of 93.28.
Meanwhile, December delivery gold futures rose 0.23% trading at $1279.68 a troy ounce.
On Wednesday, September 22, Microsoft will be holding a product launch. The event starts at 18:00 GTM + 3.
Every year in early autumn Apple holds its event where it presents new iPhones, Apple Watches, and iPads. This year wasn’t an exclusion. But yesterday’s presentation didn’t result in Apple stock growth, and here’s why.
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.
Every week we expect many interesting events that can shake the market.