Global markets

Stocks tumble anew on weak global markets Iris Gonzales (The Philippine Star) - August 16, 2019 - 12:00am MANILA, Philippines — Share prices continue to tumble, mirroring the performance of overseas equities markets which continue to weaken due to rising recession fears, analysts said. The benchmark Philippine Stock Exchange index retreated by 29.79 points, or 0.37 percent, to close at 7,828.86, while the broader All Shares gauge slipped at 22.57 points, or 0.47 percent, to close at 4,746.35. Most of the indexes were down too.  “Can anyone say rebound? The PSEi had a crazy day after falling by as much as 234 points early on in the morning, before recovering sharply throughout the day to end only 29 points in the red at 7,828.86. Weakness from the US markets last night with the Dow falling 800 points caused the negativity early on in the day,” P2P Securities analyst Gabriel Perez said. In terms of  … [Read more...] about Stocks tumble anew on weak global markets

By Corrie Driebusch WSJ Will Horner WSJ Tues., May 7, 2019 U.S. stock declines deepened Tuesday, with the Dow Jones Industrial Average falling more than 500 points, as investors reacted to a growing likelihood that the White House will follow through on threats to enact tariffs on Chinese goods later this week. The latest volatile reaction to the threats hit shares of trade-exposed companies, including chip makers and retailers that rely on sales from China, and concerns that new tariffs could weaken demand for oil sent energy prices and companies lower. The Dow industrials dropped nearly 550 points, or 2.1%, to 25889, while the S&P 500 fell 2% and the tech-heavy Nasdaq Composite lost 2.3%. Tech companies were among the biggest laggards, as they stand to be hurt by weakened sales in China, a country in which they do much of their business. Companies that manufacture products in China also stand to see their costs rise. Semiconductor companies in particular … [Read more...] about Global markets cautious after trade tensions buffet stocks

Oil prices fell on Thursday, pulled down by record U.S. crude production that led to a surge in stockpiles. Outside the United States, however, oil markets remained tense as exemptions to U.S. sanctions on Iran expired, a political crisis in Venezuela escalates, and as producer club OPEC keeps withholding supply. Spot Brent crude oil futures were at $71.91 per barrel at 0239 GMT, 27 cents, or 0.4 percent, below their last close. U.S. West Texas Intermediate (WTI) crude futures were down 19 cents, or 0.3 percent, at $63.41 per barrel. "Crude oil prices fell sharply as stockpiles in the U.S. rose to their highest level since 2017," ANZ bank said on Thursday. "This comes as U.S. refineries head into the spring maintenance period, stoking fears that crude oil demand will be soft and stockpiles will continue to rise," it added. U.S. crude stockpiles last week rose to their highest since September 2017, jumping by 9.9 million barrels to 470.6 barrels, as production set a record high of 12.3 … [Read more...] about Oil prices dip on record U.S. output, but global market tense