Saturday, July 2, 2022
manilastandard.net
ADVERTISEMENT
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
manilastandard.net
No Result
View All Result
Home Business

Stock markets rise on busy corporate earnings day

AFPbyAFP
April 30, 2022, 8:03 am
in Business, World News
Reading Time: 4 mins read
A A
91
SHARES
Share on FacebookShare on TwitterShare on Email

Stock markets rose on Thursday as investors digested a slew of company results and shrugged off a worse-than-expected US economic contraction.

In foreign exchange, the dollar traded around 20-year peaks versus the yen and at the highest level in more than five years against the euro as the Federal Reserve prepares to aggressively hike US interest rates.

European and Asian markets closed higher and Wall Street saw major gains despite the US government reporting a surprise 1.4 percent GDP contraction in the first quarter of 2022 driven by a spike in imports and low inventories, though spending remained strong.

“Everyone on Wall Street knew to expect enhanced volatility in the first quarter given the war in Ukraine, the impact of the Omicron wave, and as the economy grappled with inflation,” Edward Moya of Oanda said. 

“Today’s economic data does not change anything for the Fed and markets should continue to think they are on a clear path to raise rates rapidly over the next couple of policy meetings.”

ADVERTISEMENT

The Dow won nearly two percent, and the Nasdaq climbed more than three percent, two days after indices suffered grievous losses on fears of tighter Fed policy.

Trading has been volatile across major assets as investors remain on high alert over a range of crises including the Ukraine war, surging inflation, higher interest rates and Chinese Covid lockdowns.

Investors are also paying close attention to the ongoing earnings season, which has seen a mixed bag of results that have weighed on tech firms.

Facebook parent Meta posted a forecast-beating reading on Wednesday, which analysts said could provide some relief to the sector.

Twitter released mixed first-quarter results on Thursday, with revenues missing estimates but active users rising, three days after agreeing to be acquired by Tesla boss Elon Musk.

After markets closed, Apple reported slower growth but results that topped estimates, while Amazon reported a rare loss due in part to a stake in electric truck maker Rivian, while warning of continued challenges.

– Inflation fight –

Central banks worldwide are hiking rates to fight spiking inflation, and data released Thursday showed German consumer prices rose at their fastest pace in four decades in April, climbing to 7.4 percent.

Sweden’s central bank on Thursday became the latest to lift rates, from zero to 0.25 percent.

The Federal Reserve is next week expected to lift US interest rates by half a point and signal further big increases through the year.

But the Bank of Japan decided to keep its ultra-loose monetary policy unchanged on Thursday, prompting the Tokyo stock market to close higher.

For its part, the European Central Bank has refused to tighten borrowing costs and on Thursday ECB vice-president Luis de Guindos said a surge in eurozone consumer prices is “very close” to reaching its peak.

Soaring prices are impacting consumers and businesses everywhere.

British consumer goods giant Unilever announced a jump in revenue after it passed on higher costs to customers.

McDonald’s also reported rising first-quarter sales on price hikes, though profits tumbled due to an unspecified tax issue.

– Key figures at around 2030 GMT –

New York – Dow: UP 1.9 percent at 33,916.39 (close)

New York – S&P 500: UP 2.5 percent at 4,287.50 (close)

New York – Nasdaq: UP 3.1 percent at 12,871.53 (close)

London – FTSE 100: UP 1.1 percent at 7,509.19 (close)

Paris – CAC 40: UP 1.0 percent at 6,508.14 (close)

Frankfurt – DAX: UP 1.4 percent at 13,979.84 (close)

EURO STOXX 50: UP 1.1 percent at 3,777.02 (close)

Tokyo – Nikkei 225: UP 1.8 percent at 26,847.90 (close)

Hong Kong – Hang Seng Index: UP 1.7 percent at 20,276.17 (close)

Shanghai – Composite: UP 0.6 percent at 2,975.48 (close)

Euro/dollar: DOWN at $1.0509 from $1.0557 late Wednesday

Pound/dollar: DOWN at $1.2468 from $1.2545

Euro/pound: UP at 84.25 pence from 84.15 pence

Dollar/yen: UP at 130.79 yen from 128.43 yen

Brent North Sea crude: UP 2.2 percent at $107.59 per barrel

West Texas Intermediate: UP 3.3 percent at $103.36 per barrel

Tags: Stock MarketUSWall Street
ADVERTISEMENT
AFP

AFP

Related Posts

Bulacan Stevia queen wants to change beverage industry

byRoderick T. dela Cruz
July 2, 2022, 8:00 pm
0
133
Lady executive now leads EastWest

A Bulacan-based entrepreneur wants to change the Philippine beverage sector by introducing Stevia-sweetened drinks for diabetic consumers and those with...

Read more

SariSuki’s logistics unit promises 15-minute grocery items delivery

byOthel V. Campos
July 2, 2022, 7:50 pm
0
138
Lady executive now leads EastWest

E-commerce social enterprise SariSuki announced the creation of a dedicated logistics unit to serve the fast-growing network of retail members...

Read more

P&A Grant Thornton welcomes new partners

byOthel V. Campos
July 2, 2022, 7:40 pm
0
138
Lady executive now leads EastWest

P&A Grant Thornton, one of the leading audit, tax, advisory and outsourcing firms in the Philippines, announced the entry of...

Read more

Lady executive now leads EastWest

byManila Standard
July 2, 2022, 7:30 pm
0
142
Lady executive now leads EastWest

EastWest chief lending officer Jacqueline Fernandez assumed her new role as EastWest president on July 1. Fernandez has been serving...

Read more

TikTok tells US senators data not shared with Chinese Communist Party

byAFP
July 2, 2022, 10:31 am
0
148
TikTok tells US senators data not shared with Chinese Communist Party

TikTok sought to reassure US senators this week that it is taking all necessary steps to limit access to users'...

Read more

Shallow magnitude 6.0 quake rocks southern Iran: USGS

byAFP
July 2, 2022, 10:30 am
0
310
Shallow magnitude 6.0 quake rocks southern Iran: USGS

A shallow 6.0 magnitude quake shook southern Iran early Saturday, the US Geological Survey said, revising down its initial measurement....

Read more

Stories you may like

  • Snapshots

    The next, now, or never in new romance film ‘Ngayon Kaya’

    2153 shares
    Share 861 Tweet 538
  • Of course, it was BBM’s project

    32014 shares
    Share 12806 Tweet 8004
  • Property relations in marriage

    1073 shares
    Share 429 Tweet 268
  • Herbosa will make an excellent DOH Secretary

    1835 shares
    Share 734 Tweet 459
  • First Family to showcase local fashion design in barong, terno

    986 shares
    Share 394 Tweet 247

Print Edition

View More

Recent Posts

  • Limited edition V63 at Toycon PH 2022
  • TNC Pro ML, PinoyGamer make lifestyle crossover with Kroma
  • PH Army Lady Battalions cop WNBL crown
  • PH takes on Australia in Asean women’s football opener
  • Animals and their Sixth Sense
  • Functional, Healthy Dog Treats for Your Dog
  • Bulacan Stevia queen wants to change beverage industry
  • SariSuki’s logistics unit promises 15-minute grocery items delivery

Advertisement

Latest News

Functional, Healthy Dog Treats for Your Dog

byDesiree Carlos
July 2, 2022, 8:10 pm
0
130
Functional, Healthy Dog Treats for Your Dog

His dog had beautiful fur but it started to look damp and unhealthy. His friend’s dog started to have joint...

Read more

Bulacan Stevia queen wants to change beverage industry

byRoderick T. dela Cruz
July 2, 2022, 8:00 pm
0
133
Lady executive now leads EastWest

A Bulacan-based entrepreneur wants to change the Philippine beverage sector by introducing Stevia-sweetened drinks for diabetic consumers and those with...

Read more

SariSuki’s logistics unit promises 15-minute grocery items delivery

byOthel V. Campos
July 2, 2022, 7:50 pm
0
138
Lady executive now leads EastWest

E-commerce social enterprise SariSuki announced the creation of a dedicated logistics unit to serve the fast-growing network of retail members...

Read more

P&A Grant Thornton welcomes new partners

byOthel V. Campos
July 2, 2022, 7:40 pm
0
138
Lady executive now leads EastWest

P&A Grant Thornton, one of the leading audit, tax, advisory and outsourcing firms in the Philippines, announced the entry of...

Read more

Lady executive now leads EastWest

byManila Standard
July 2, 2022, 7:30 pm
0
142
Lady executive now leads EastWest

EastWest chief lending officer Jacqueline Fernandez assumed her new role as EastWest president on July 1. Fernandez has been serving...

Read more

Advertisement

ADVERTISEMENT
Facebook Twitter Instagram Youtube

ABOUT US

Manila Standard

Manila Standard website (manilastandard.net), launched in August 2002, extends the newspaper’s reach beyond its traditional readers and makes its brand of Philippine news and opinion available to a much wider and geographically diverse readership here and overseas.

Digital Edition

In tone and content, the online edition mirrors the editorial thrust of the newspaper. While hewing to the traditional precepts of fairness and objectivity, MS believes the news of the day need not be staid, overly long or dry. Stories are succinct, readable and written in a lively style that has become a hallmark of the newspaper.

Download – Today’s Paper

Search

No Result
View All Result

6th Floor Universal Re Bldg., 106 Paseo De Roxas cor. Perea Street, Legaspi Village, 1226 Makati City Philippines

Trunklines: 832-5554, 832-5556, 832-5558

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Pop.Life
    • Newsmakers
    • Hangouts
    • A-Pop
    • Post Its
    • Performances
    • Malls & Bazaars
    • Hobbies & Collections
  • Technology
    • Gadgets
    • Computers
    • Business
    • Tech Plus
  • MS ON THE ROAD
    • Sedan
    • SUV
    • Truck
    • Bike
    • Accessories
    • Motoring Plus
    • Commuter’s Corner
  • Home & Design
    • Residential
    • Commercial
    • Construction
    • Interior
  • Spotlight
  • Gallery
    • Photos
    • Videos
  • Events
    • Seminars
    • Exhibits
    • Community
  • Biyahero
    • Travel Features
    • Travel Reels
    • Travel Logs
  • Pets
  • Advertise with Us

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Install Manila Standard Web App

Install App