Snowflake Stock – Filipino Stocks Surge as Global Equities Await Latest U.S. Inflation Verdict
Easing lockdown restrictions sent Filipino stocks surging, while most major bourses traded in a tight range on Thursday.
index rose more than 5% in Manila as the country begins to roll back Covid-19 lockdowns, though the country’s president,
warned he will jail village leaders and police officers who don’t enforce restrictions.
The rest of Asia put in a mixed performance, with the
easing 0.3% in Tokyo and the
slipping 0.2%, while the
Stoxx Europe 600
rose 0.1% in morning trade.
There is a big slate of U.S. economic data on Thursday, including a second look at first-quarter gross domestic product, though investors may be waiting for Friday’s release of personal income and personal-consumption expenditures price inflation data.
“It seems that market participants stayed relatively indecisive ahead of tomorrow’s release of the core PCE index, which is the Fed’s favorite inflation metric,” said Charalambos Pissouros, senior market analyst at JFD Group.
may climb, as the home-furnishings retailer hiked its annual earnings outlook following a stronger-than-forecast jump in profits during the first quarter. Graphics chip maker
reported record-beating sales and guided for a stronger current quarter than analysts anticipated.
may slip, as the identity-management software company forecast a wider loss than anticipated and announced the departure of its chief financial officer.
shares also may see pressure, after the database software maker reported a doubling of quarterly losses.