Connect with us


Covid situation, economic data will influence the stock market index

Covid situation, economic data will influence the stock market index
Covid situation, economic data will influence the stock market index


Investors are expected to follow the development of the Covid-19 situation in the country, as well as the release of some major economic data and more reports on corporate earnings in the third quarter.

Japhet Tantiangco, senior research analyst at Philstocks Financial Inc., said the main index was lowered to its support range of 7,000 to 7,100 points last week, which could be tested further this shortened trading week. .

Profit-taking pushed the local Philippine Barometer of Securities (PSEi) stock market index down on Friday after falling 1.44% or 103.03 points to close at 7,054.70.

Tantiangco said futile hopes of easing the national capital region’s alert level by November 1 could lead to early selling pressure. possibility of easing restrictions during next government decision period. “

Presidency spokesman Harry Roque announced on Friday that Metro Manila would remain below Alert Level 3 from November 1 to 14.

The Philippines recorded 4,008 new cases of Covid-19 on Saturday, bringing the total to 2.783 million.

Tantiangco noted that the increase in bank lending in September could also strengthen market sentiment, as it shows improving economic conditions.

The expected impression of the country’s inflation rate for October, meanwhile, is seen as a downside risk to the market.

“If it came faster than September’s 4.8%, it could cause negative sentiment in the market,” Tantiangco explained.

Investors are also reportedly monitoring the September labor force survey results, as well as third quarter corporate financial reports.

Tantiangco said the local stock exchange could also take inspiration from the Federal Foreign Market Committee’s policy meeting abroad.

“If there will soon be hints of monetary tightening from the Federal Reserve, this could also weigh on the market,” he continued.

Meanwhile, Rizal Commercial Banking Corp. chief economist Michael Ricafort also cited the upcoming release of major economic data as a catalyst for the market.

Ricafort also included the trend of new cases of Covid-19, additional measures to further reopen the economy and the progress of the country’s vaccination program.

Tantiangco considers the 7,300 level to be the resistance of the market.

“If the 7,000-7,100 range does not hold, the next major market support is at 6,600,” he noted.




The mention sources can contact us to remove/changing this article

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos


to request, modification Contact us at Here or [email protected]