US stocks surged on Friday, buoyed by Donald Trump’s presidential election victory, with major indices posting solid weekly gains of 4 to 6 percent.
The Dow Jones Industrial Average rose 259.65 points (0.59%) to finish at 43,988.99, marking a weekly gain of 4.61%.
The S&P 500 gained 22.44 points (0.38%) to close at 5,995.54, with a 4.66% increase over the week.
The Nasdaq climbed 17.32 points (0.09%) to end at 19,286.78, for a weekly gain of 5.74%.
The VIX volatility index, often referred to as the “fear gauge,” dropped by 1.71%, signaling reduced market uncertainty.
The US Dollar strengthened, rising 0.44% to 104.8, while the EUR/USD exchange rate fell 0.8%.
In contrast, precious metals and oil saw declines. Gold dropped 0.82% to USD 2,683.30 per ounce, silver fell 2.32% to USD 31.29, and Brent crude oil prices dipped 2.08% to USD 73.80. (Anadulo/Sourced online)
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MANILA — Philippine Ambassador to the United States, Jose Manuel Romualdez, has warned Filipinos residing or working illegally in the US to return to the Philippines voluntarily or risk facing deportation under the upcoming administration of President-elect Donald Trump.
In an online forum organized by the Foreign Correspondents Association of the Philippines (Focap), Romualdez highlighted Trump’s firm stance on immigration reform, noting that his campaign promises to deport undocumented immigrants is expected to become a priority.
“My advice to our compatriots who are still here but cannot secure legal status is to not wait to be deported,” Romualdez stated. “The Trump administration will be strict with immigration policy.”
According to Romualdez, there are fewer than half a million Filipinos living illegally in the US, a number smaller than that of other immigrant groups. However, he emphasized that once deported, undocumented individuals may face significant difficulty returning to the US, with a 99% chance of being permanently barred.
Romualdez urged Filipinos in the US to take immediate action, either by returning home or working on securing legal documentation to avoid the risks of deportation under the stricter immigration policies likely to be enacted by the incoming Trump administration.
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By Liezelle Soriano
MANILA — President Ferdinand “Bongbong” Marcos Jr. on Wednesday (Nov. 6, 2024) congratulated Donald Trump, who is anticipated to win the U.S. presidential election.
“President Trump has won, and the American people have triumphed. I congratulate them on their victory in an exercise that showed the world the strength of American values,” Marcos said in a statement.
The Chief Executive added that he looks forward to working with Trump on issues that “will yield mutual benefits for two nations with deep ties, shared beliefs, a common vision, and a long history of working together.”
“I am hopeful that this unshakeable alliance, tested in war and peace, will be a force for good, blazing a path of prosperity and amity in the region and on both sides of the Pacific,” Marcos continued.
“This is a durable partnership to which the Philippines is fully committed because it is founded on the ideals we share: freedom and democracy.”
According to reports, Trump claimed victory after Fox News projected his win over Kamala Harris.
This marks Trump’s second term.
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WASHINGTON, D.C. – In a dramatic address to supporters early Wednesday (06 Nov 2024) morning, former President Donald Trump declared victory in the 2024 U.S. presidential race after securing 277 Electoral College votes, according to projections by Fox News.
With at least 270 Electoral College votes required to win the presidency, Trump’s projected total placed him well over the threshold needed for a victory.
However, despite Trump’s confident declaration, as of his speech, no other major U.S. news outlets had officially called the election in his favor, and some networks continued to monitor ongoing vote counts in key battleground states.
The Trump campaign, in its statement, expressed confidence that the results would hold, but a final, formal declaration from other media outlets was still pending.
Supporters gathered at Trump’s election night headquarters cheered as the former president made his remarks, emphasizing his campaign’s success and what he described as a “tremendous” turnout among voters.
Trump’s speech, marked by his characteristic defiance, also reflected on what he called a victory against what he framed as the “establishment” and “fake news.”
As vote counting continued into the morning, the race remained tight in several critical swing states, where final tallies were expected to be slow due to high mail-in ballot volumes.
The Trump campaign’s projections, however, suggested that their candidate was poised to secure the necessary states, including Michigan, Pennsylvania, and Georgia.
While Trump celebrated, President Joe Biden, who was seeking re-election for a second term, had not yet made a public statement, and the Biden campaign remained cautious as they monitored the results closely.
As the election remains in its final stages of counting, both sides are bracing for the official tally to unfold, with significant focus on the impact of absentee and early voting ballots.
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MANILA – Philippine shares fell while the peso held steady around 58 to the dollar on Monday (04 Nov 2024).
The Philippine Stock Exchange index (PSEi) dropped 6.86 points to close at 7,136.10, with the All-Shares index down 5.55 points to 3,951.66.
“Market attention is focused on the upcoming U.S. elections and the Federal Reserve’s policy meeting,” noted Luis Limlingan, managing director of Regina Capital Development Corporation. “Any hints from the Fed about rate changes could influence market sentiment.”
This week’s local economic calendar is busy: October’s S&P Global Manufacturing PMI was released today, followed by inflation data on Tuesday. Wednesday will bring updates on employment, trade balance, and industrial production, and the week wraps up with third-quarter GDP growth figures and foreign exchange reserves on Thursday.
Most sectors ended in the red, with Mining and Oil leading the decline, down 167.12 points. Decliners outnumbered advancers 107 to 76.
The peso closed at 58.34 to the dollar, slightly down from 58.10 last Thursday. It opened at 58.27 and fluctuated between 58.15 and 58.36, with a daily weighted average of 58.238. Trading volume reached USD 1.1 billion. The markets were closed on Nov. 1 for All Saints’ Day.
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WASHINGTON – Former President Donald Trump is now confronting a revised indictment filed by US Special Counsel Jack Smith, centered on allegations of interference in the 2020 presidential election.
This updated indictment follows a recent Supreme Court decision granting Trump partial immunity from prosecution. The new charges mirror the previous allegations, accusing Trump of conspiring to overturn the election results.
In response, Trump has dismissed the indictment as a political maneuver aimed at shifting public focus away from what he describes as the current administration’s failures.
“This is nothing more than an attempt to interfere with the election and distract the American people from the disasters Vice President Kamala Harris has brought upon our nation, including the border crisis, migrant crime, rampant inflation, and the looming threat of World War III,” Trump stated on Truth Social.
(ia/mnm/Int’l Wire TASS)
PENNSYLVANIA — Law enforcement authorities have identified the man who attempted to assassinate former President Donald Trump at a rally in Pennsylvania on Saturday (13 July 2024).
The FBI announced that the shooter, who was killed, was 20-year-old Thomas Matthew Crooks from Bethel Park, Pennsylvania. The motive remains unclear.
The gunman was immediately neutralized by the Secret Service, according to their chief of communications, Anthony Guglielmi.
Bethel Park is a predominantly white, affluent suburb south of Pittsburgh, while the rally took place in Butler, about an hour north of Pittsburgh.
Pennsylvania voter records indicate that Thomas Matthew Crooks, with the same address and birth date, was a registered Republican, though the registration date is unclear.
At a news conference Saturday night, state police Lt. Col. George Bivens said the investigation was nearing an identification of the shooter, who was without identification. “The shooter has been tentatively identified,” Bivens said. “It’s a matter of doing biometric confirmations.”
Authorities are also focused on uncovering a motive and determining if the shooter had any accomplices.
(el Amigo/mnm)
WASHINGTON – Former US President Donald Trump “is fine” after being injured during a rally in Pennsylvania on Saturday, where gunshots were reported.
Footage on social media showed Trump bloodied on his right ear as he was quickly escorted off the stage.
Trump’s spokesperson, Steven Cheung, reassured the public that the former president “is fine.”
“President Trump thanks law enforcement and first responders for their quick action during this heinous act. He is fine and is being checked out at a local medical facility,” Cheung said in a statement.
CNN, citing multiple law enforcement sources, reported that the suspected shooter has been “neutralized.”
The Secret Service confirmed that protective measures were implemented and that the former president is safe.
“This is now an active Secret Service investigation and further information will be released when available,” the agency said.
President Joe Biden was briefed on the incident, according to the White House.
Reactions from political and business leaders have been swift. Pennsylvania Governor Josh Shapiro, a Democrat, condemned the shooting.
“Violence targeted at any political party or political leader is unacceptable,” Shapiro said.
Billionaire tech investor Elon Musk announced his endorsement of Trump for president.
“I fully endorse President Trump and hope for his rapid recovery,” Musk wrote on X (formerly Twitter).
(ia/mnm/PNA/Anadolu)