Daily Market Notes December 1, 2009

PSEi      3,097.92         UP     52.95
value php      3,098,071,865.00

DOW    34.92 +0.34% 10,344.84
NASDAQ 6.16 +0.29% 2,144.60
S&P 500 4.14 +0.38% 1,095.63

Wall Street takes on its pre destined rout last Friday, as it trades half the day for Thanksgiving holiday.  While we were sleeping for Bonifacio Day Holiday yesterday, Asia turns positive and continued their rally today, while Europe that was positive last Friday turned sour yesterday.  Wall street was flat yesterday as some early holiday numbers from the National Retail Federation showed that, while there were more shoppers this year, they spent less.

Local value turnover was found wanting again, not the hallmarks needed for newer highs.  Leading the index gainers were ALI 12.50, or 12 pts gain for the psei on 94m nfb.  This was complemented by rallies in other property counters FLI .92, 13M NFB, and MEG 1.46, 12m nfb.    Read more... (273 words, estimated 1:06 mins reading time)