2 crucial plots to keep stock market on its toes this week | Inquirer Business
Close  
MARKET OUTLOOK

2 crucial plots to keep stock market on its toes this week

/ 04:05 AM January 24, 2022

The upcoming release of fourth quarter gross domestic product (GDP) and additional data potentially confirming a downtrend in COVID-19 infections will keep investors busy this week.

The benchmark Philippine Stock Exchange index (PSEi) ended relatively flat last week at 7,293.52, reflecting lingering market uncertainties that were amplified by worries over the US Federal Reserve’s next steps in rolling back market-supporting stimulus measures.

ADVERTISEMENT

BDO Unibank Inc. chief strategist Jonathan Ravelas said the PSEi movements would still be confined within the 7,000-7,350 range.

A surprise GDP report could lift the market while investors closely monitor announcements on COVID-19 numbers.

FEATURED STORIES

Meanwhile, plans by the US Federal Reserve to raise interest rates amid surging inflation dragged US markets lower the past week.

“The sentiment might sweep over here,” Luis Gerardo Limlingan, managing director at Regina Capital Development, said over the weekend.

Other investors would also be positioning ahead of the release of fourth quarter corporate earnings.

“It will be interesting to see whether power stocks will start to climb given that commodity prices continued to rise,” Limlingan said.

He added consumer stocks would also be in focus after “inflation tapered at the end [of 2021] and spending got back closer to prepandemic levels.” INQ

Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Business, Philippine Stock Exchange index (PSEi), stocks
For feedback, complaints, or inquiries, contact us.

Curated business news

By providing an email address. I agree to the Terms of Use and
acknowledge that I have read the Privacy Policy.



© Copyright 1997-2022 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.