Overnight Market Snapshot – October 11, 2013
The overnight markets surged on news that the US is closer to a deal in raising their debt limit. Risk-on mode led the equities markets (DJIA +2.18%, S&P 500 + 2.18%, Nasdaq +2.26%) to rise. Emerging market shares like the iShares MSCI Philippines Index ETF (EPHE +4.42%) and the Philippine Long Distance Company ADRs (PHI +1.28%) also spiked as a result. Positive sentiment from last night may spill over today and lift the local PSEi.
