Overseas news
US stocks ended lower on Thursday, with insurance firm UnitedHealth’s shares down sharply and technology stocks easing. Investors are waiting for the November non-farm payrolls (NFP) report due today.
The report measures the number of workers in the US aside from those in farms, private households, proprietors, non-profit employees, and active military. It gives a good picture of the general job situation in that country.
In most US regions, economic activity has expanded slightly since early October, with employment growth “subdued” and inflation rising at a modest pace. This was according to the US Federal Reserve’s (the Fed) Beige Book.
The Beige Book is a publication by the Fed that covers economic conditions across 12 Federal Reserve districts.
Members of the Federal Open Market Committee (FOMC) use data from these reports to help them decide on measures that could support the national economy.
Local developments
Headline inflation quickened in November to 2.5%, meeting the consensus estimate. This happened as prices of vegetables, meat, and fish rose after a series of typhoons caused widespread damage.
Headline inflation looks at price changes in the Consumer Price Index (CPI). This is a standard “basket” of goods and services that a typical family spends on.
SMC Tollways Corp. (SMCTC) listed its P35 billion fixed-rate bond issuance at the Philippine Dealing & Exchange Corp. (PDEx) on Thursday. SMCTC will use the proceeds to refinance its debt and support its Skyway System expansion.
The Philippine Rating Services Corp. gave the bond offer a “PRS Aaa” rating, its highest rating that indicates minimal credit risk.
The latest news doesn’t show any big market changes so far, and so it might be a good idea for you to continue following your strategy while staying updated.
