Millions more Americans file for jobless benefits; productivity tanks

Millions more Americans sought unemployment benefits last week, suggesting layoffs broadened from consumer-facing industries to other segments of the economy and could remain elevated even as many parts of the country start to reopen. READ MORE

World stocks climb on China trade relief, while U.S. jobs data dents dollar

World shares rose on Thursday after China’s exports came in far stronger than expected, suggesting an economic recovery was under way, but the dollar fell from two-week highs as U.S. data showed millions more Americans joined the ranks of the unemployed. READ MORE

TECHNICAL CHARTS

S&P500 consolidates as the market remains cautious today – when the US release the unemployment data at 8.30pm tonight (PHP TIME)
DOW likewise consolidates as the market remains cautious today – when the US release the unemployment data at 8.30pm tonight (PHP TIME)
PSEI will follow the US Markets and foreign traders will stay out till more stability in the global market

KEY TAKEWAWAYS

  • Don’t rush to the market
  • Cash is king at this stage of the game
  • Avoid speculating during this uncertainty
  • Economic team proposes P131-B in relief measures, P711-B to revive economy (Philippines are still vigilant and budget are kept for economic growth ahead) Read More
  • Market will stay vigilant as Flitch downgrades the rating – Fitch Ratings lowers Philippines’ outlook to ‘stable’ – Read More

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