Market Outlook

Market participants will sift through headlines during the weekend break, especially with Fed chair Powell’s upcoming statement, and property trends in China.

Participants will check on continuity of prior session’s advance, as well as consensus for status quo from BSP’s policy meeting today.

The index closed lower at 6,335.91 with bears still selling, ending the day with a doji candlestick.

Eyes are set whether inflection point could be made at the 6,300 zone, as several watch if supply pressure would still be

Local equities might need to find a stable base for now, as the market digests on slower 2Q GDP, versus

The index closed lower at 6,449.66 with bears still selling after lower-than-expected GDP data.

Sentiment might sway to Wall Street’s overnight incline (DJIA +1.16%, Nasdaq Comp. +0.61%), on expectations of tamer sequel inflation trend.

The index closes higher at 6,576.76 with bulls being able to defend prices near 6,500 levels.

Sentiment might sway to Wall Street’s weakness, as some investors cash-out with the Ghost month season.

The PSEi closed at 6,593.80, with bulls trying to defend prices near 6,600 levels.

Selective buying might provide the boost on local gauges, as investors seize on this lull to position in equities.

Sentiment might glide with the region, on optimism over China’s economic stimulus plan.

Volatile sessions are seen, as participants await key issues that will be presented in Pres. Marcos, Jr.’s SONA, timed with the US Federal Reserve’s meeting this week (25-26 July).

Sessions might remain range-bound, as participants heed to 2Q23 corporate earnings.

Market watchers will monitor the PSEi’s staying power above the 6,500 zone, as some are likely to