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 stocks decline
On Thursday, Philippines stocks dived after the close because losses in the Services, Mining & Oil as well as Property sectors brought stocks down.
The PSEi Composite went down 0.88%, reaching a fresh 1-month minimum.
On the PSEi Composite the best gainers were Universal Robina Corp, Aboitiz Power Corp and Emperador Inc. They soared respectively 0.94%, 0.65% and 0.53%.
Losers were represented by PLDT Inc, Globe Telecom Inc and Alliance Global Group Inc, losing respectively 3.59%, 3.32% and 2.78%.
Diving stocks managed to defeat advancing ones on the Philippines Stock Exchange by 134 to 79, while 38 stood still.
The currency pair CNY/PHP edged up 0.34%, trading at 7.4521, while USD/PHP climbed up 0.05%, trading at 50.530.
As for the US Dollar Index Futures, it inched down 0.29%, being worth 95.50.
Meanwhile, August delivery gold futures slumped 0.16%, trading at a troy ounce. Besides this, August delivery oil futures ascended 0.78%, trading at $45.09 a barrel.
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The US Bureau of Economic Analysis will publish Core Personal Consumption Expenditures (PCE) on May 27 at 15:30 GMT+3.
The United States will publish the Preliminary GDP on Thursday, May 26, at 15:30 GMT+3.
The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.