Market Outlook

Sentiment might sway to Wall Street’s incline (DJIA +1.18%, Nasdaq Comp. +2.96%), as economic & corporate earnings growth prospects are highlighted anew.

The PSEi settled higher by +0.62% to 6,897.36 yesterday as the bears fled the bourse.

Light sessions are seen, with foreign fund managers on their extended weekend break for the US Presidents’ Day holiday.

Movements might stay range-bound for now, as the PSEi reinforces a firmer base at 6,800.

The PSEi surged by +0.34% w-o-w to close at 6,873.23, marking its fourth winning streak.

Sentiment might sway to Wall Street’s lead, with improved liquidity returning to equities.

Attention would be on the local central bank’s policy meeting, with consensus for a status quo.

The PSEi closed at 6827.92, slightly below its intraday high of 6848.57, indicating some volatility during the trading day.

Sentiment might glide to Wall Street’s weakness, on fears for possible slight uptick in domestic inflation for Feb.

Participants will monitor continuity of yesterday’s trend, or for supply pressure to start coming out ahead of the Lunar break.

The PSEi surged by +2.13% w-o-w to close at 6,850.16, extending its winning streak for the third week.

Participants will monitor continuity of yesterday’s trend, or for supply pressure to start coming out ahead of the Lunar break.

The market is trading above key moving averages (50-day, 100-day, and 200 -day) and is poised to revisit the next resistance level.

Attention is set for the 6,800 target, having moved past 6,700.

The PSEi concluded yesterday’s session with a -23.42pts decline to 6,623.01.