PSEi 2,431.34 DOWN 6.70
value php 1,529,901,105.00
DOW 223.32 -2.63% 8,280.74
NASDAQ 49.20 -2.67% 1,796.52
S&P 500 26.91 -2.91% 896.42
Stocks tumbled at the open and remained in the red throughout
the session as investors considered the broader implications of the dismal June jobs report. Employers cut 467,000 jobs from their payrolls in June, after cutting 322,000 jobs in May, the Labor Department reported Thursday. That made June the first month in four in which job losses rose from the previous month.
Economists surveyed by Briefing.com expected 365,000 job losses.
That's a 27% more drop than expected.
And yet asiawide, equity markets took it in stride that emanated an aura of "natural correction" and the panic sellling after triple digit losses for the Dow just wasn't there on Asia anymore (or yet).
Locally, our lowest point of the day was 2412 for the index, or an intraday drop of 25 points.So what I said yesterday that, "It seems that upon hitting 2 week low supports, sellers take a break and stop their selling, but heavy buying do not want to put their money in at those levels either." still applies.
America takes a break tonight for the July 4 celebration.
TOTAL FOREIGN BUYING : P 674,368,657.45
TOTAL FOREIGN SELLING : P 678,667,542.50
NO. OF ADVANCES: 28
NO. OF DECLINES: 54
NO. OF UNCHANGED: 59
NO. OF TRADED ISSUES: 141
NO. OF TRADES: 4,735
LEGEND:
NFB : Net Foreign Buying
NFS : Net Foreign Selling
PHP : Philippine pesos
About dragon
The SEC may be finally doing something proactive. Just read SEC requested a copy of STOCK SHOCK–new movie about market manipulation. http://www.chrismartenson.com/forum/sec-requests-copy-dvd-stock-shock/21622