US stocks end mostly higher after earnings deluge
US stocks Thursday finished a holiday-shortened week mostly higher following a plethora of earnings reports that generally met or exceeded expectations.
US stocks Thursday finished a holiday-shortened week mostly higher following a plethora of earnings reports that generally met or exceeded expectations.
The local stock barometer returned to the 6,400 level on Monday on quarter-end portfolio buying as well as bets on monetary stimulus in China.
The local stock barometer slipped on Thursday ahead of a keenly awaited meeting by the local central bank, which has indicated a bias to shift to a monetary tightening cycle.
The local stock barometer rose slightly on Wednesday as most regional markets were lifted by an upbeat US consumer confidence report.
The local stock market swung back to negative territory as investors exercised caution in the absence of fresh catalysts and against a backdrop of mostly weaker regional markets.
The local stock barometer returned to the doldrums on Wednesday, ending a two-day run-up, as investors lacked new catalysts amid a mostly sluggish regional backdrop.
The local stock barometer gained for the second session on Tuesday, bringing the main index back to the 6,400 level, as a recovery in most regional markets boosted risk-taking.
After a three-day decline, the local stock barometer firmed up on Monday but settled at a tad below the 6,400 mark.
The local stock index climbed past the 6,500-mark on Tuesday as some offshore investors realigned funds in favor of the Philippines.
The local stock barometer modestly gained on Monday on improved investor sentiment even as most other markets in the region were weighed down by sluggish data out of China and Japan.
The local stock barometer retested the 6,500 mark on Thursday as investor appetite further improved with a strong corporate earnings flow and the inclusion of more Philippine corporations into the FTSE All-World Index.
The local stock index swung back to positive territory on Wednesday after three days of profit-taking in the stock market, still driven by optimism about local corporate earnings.
