A U.S. Labor Department report showed that new claims for unemployment benefits unexpectedly fell last week, pointing to a persistently tight labor market. | Reuters
“But it seems the market is starting to discount that we’re getting into the eighth or ninth inning of these rate hikes even though the Fed is saying ongoing rate hikes would be necessary,” Villere said.
On Wall Street, the Nasdaq regained earlier losses from better-than-expected revenue at chipmaker Nvidia Corp. The results drove the company’s shares up 14 percent, along with shares of other semiconductor manufacturers. “When you see strong numbers at certain companies, it could be market moving and that’s what we’re seeing today – a bit of a relief rally,” Villere added.
Brent crude futures settled up 2 percent to $82.21 a barrel, while West Texas Intermediate crude futures advanced 2 percent to $75.39 after six sessions of losses.U.S. Treasury yields edged lower in choppy trading, with those on the 10-year pulling back from three-month highs, as investors have priced in strong economic data.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Department of Agriculture reconstitutes body for foreign meat establishments’ accreditation | Jasper Y. ArcalasThe Department of Agriculture (DA) has announced the reconstitution of two inter-agency bodies to fast-track the accreditation of foreign meat establishments (FMEs) that are allowed to export meat products to the country. Senior Agriculture Undersecretary Domingo F. Panganiban issued twin Special Orders (SO) that reformed the Pre-Inspection Committee (PIC) and…
Read more »
PRC adds new F2F oathtaking date for new agriculturistsThe Professional Regulation Commission (PRC) on Wednesday, Feb. 22, announced an additional face-to-face oathtaking date for new Agriculturists.
Read more »
PRC adds new F2F oathtaking date for new agriculturistsThe Professional Regulation Commission (PRC) on Wednesday, Feb. 22, announced an additional face-to-face oathtaking date for new Agriculturists.
Read more »
Miss Direction: Anne Jakrajutatip, new owner of Miss Universe, ignites controversies with new rulesMiss Universe Organization owner Anne Jakrajutatip is raising eyebrows in the pageant community with her policies as the new franchise owner. | via philstarlife
Read more »
Philippines falls in labor resilience index - BusinessWorld OnlineThe Philippines slipped three spots to rank 65th out of 136 countries in the latest report of the Global Labor Resilience Index (GLRI) by public policy advisory firm Whiteshield. The index assessed countries on the resilience of their labor markets and provides policy guidance on how to enhance it. With an overall labor resilience score […]
Read more »
Labor seeks wage hikes anew amid high inflation | Samuel P. MedenillaLABOR groups are now demanding additional allowances, grants, and a new round of wage hikes in response to government’s alleged failure to address high inflation. Trade Union Congress of the Philippines (TUCP) Vice President Luis Corral said they are now just waiting for the first quarter inflation data before filing…
Read more »