Stocks gain sharply for day and week, while copper falls further

25/06/2022 7:09:00 AM

The S&P 500 climbs 3.1% in its biggest daily percentage gain since May 2020, and the MSCI global index rises 4.8% for the week, snapping three straight weeks of declines

The S&P 500 climbs 3.1% in its biggest daily percentage gain since May 2020, and the MSCI global index rises 4.8% for the week, snapping three straight weeks of declines.

The S&P 500 climbs 3.1% in its biggest daily percentage gain since May 2020, and the MSCI global index rises 4.8% for the week, snapping three straight weeks of declines

recession , which would reduce demand for commodities and other items.James A.But any temporary pain caused by a recession would be "a necessary price to pay" to defeat damaging inflation, she said.By HERMES JOY TUNAC, GMA News Published June 23, 2022 3:32pm The new series adaptation of Jenny Han’s “The Summer I Turned Pretty” has finally seen the light of day.

“The [stock] market came into this week oversold, so it was time for a bounce,” said Quincy Krosby, chief equity strategist at LPL Financial in Charlotte, North Carolina.“We’ve seen oil prices come down along with other commodity prices,” she said, adding that the market’s move is reflecting “expectations of at least a marked slowdown if not an out-and-out recession.The PSEi dropped 102.” Also, the University of Michigan consumer sentiment survey’s reading on five-year inflation expectations was positive for stocks, Krosby said.7 percent forecast in April, which was cut from the rate predicted at the start of the year.It eased to 3.67 percent to close at 6,065.1% from the preliminary 3.Each episode lasts for less than an hour, and best believe this writer binged it for two days straight, and she’s Team Jeremiah all the way! Please don’t ask her why, we don’t like spoilers here! “The Summer I Turned Pretty” stars Lola Tung as Belly, Christopher Briney as Conrad, and Gavin Casalegno as Jeremiah.

3% estimate in mid-June.Volume remained thin at 1.The Fed last week implemented the biggest increase in its benchmark lending rate in nearly 30 years, as part of its aggressive effort to quell inflation that is at a four-decade high and squeezing American families struggling with rising prices for gasoline, food and housing.The benchmark S&P 500 last week confirmed a bear market.The Dow Jones Industrial Average rose 823.42 billion as losers swept gainers 143 to 65 with 36 unchanged.32 points, or 2.7 percent, but "narrowly avoid" a recession, according to the annual review of the US economy, known as the Article IV consultation.68%, to 31,500.He added that, “Portfolio managers were also speculating how the BSP would react to inflationary pressures, as they just released that they will be raising policy rates by 25bp to 2.

68, the S&P 500 gained 116.01 points, or 3.“ Philstocks Financial Senior Supervisor for Research Japhet Tantiangco said “The local market declined further as the Peso’s weakness against the US Dollar continued to weigh on sentiment.Georgieva met with US Treasury Secretary Janet Yellen and Fed Chair Jerome Powell and the officials "left no doubt as to their commitment to bring inflation back down.06%, to 3,911.74, and the Nasdaq Composite added 375.00 per US Dollar level, is seen to pose upside risks to inflation and discourage foreign investors from parking their funds in the Philippine market.43 points, or 3."So if it was hit by negative shock, it should pass relatively quickly and have a relatively quick recovery afterwards.

34%, to 11,607.62.For the week, the S&P 500 rose 6..4%, the Dow added 5.4%, and the Nasdaq gained 7.

5%.However, US Trade Representative Katherine Tai has said the steep tariffs on China offer negotiating "leverage" with Beijing which she is reluctant to give up.The pan-European STOXX 600 index rose 2.62% and MSCI’s gauge of stocks across the globe gained 2.63%.5 million jobs since the end of 2020, according to the IMF analysis.Benchmark copper on the London Metal Exchange was 0.

5% lower at $8,367 a metric ton after touching $8,122.50, down 25% from a peak in March and the lowest level since February 2021.Misjudging the policy mix -- in either direction -- will result in sizable economic costs at home and negative outward spillovers to the global economy.Other industrial metals also tumbled.Oil prices were higher Friday on but notched their second weekly decline.On the day, Brent crude settled up $3.

07, or 2.8%, at $113.12 a barrel, while US West Texas Intermediate crude settled up $3.35, or 3.2%, at $107.

62.In the Treasury market, yields have dropped from more than decade highs reached before last week’s Fed meeting.The US central bank hiked rates by 75 basis points at the meeting.Fed funds futures traders are now pricing for the benchmark rate to rise to about 3.5% by March, down from expectations last week that it would increase to around 4%.

Benchmark 10-year yields were last at 3.125%.They have fallen from 3.498% on June 14, the highest since April 2011.In the foreign exchange market, the US dollar fell and posted its first weekly decline this month.

In afternoon New York trading, the dollar index, which measures the US unit against six major currencies, fell 0.2% to 104.013.The US dollar’s slide boosted even commodity-focused currencies such as the Australian dollar and Norwegian crown.The Aussie rose 0.

8% to US$0.6946.Spot gold added 0.2% to $1,826.39 an ounce.

– Rappler.com.

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