As we near the end of 2023, we may need to adjust our portfolio and strategy.
We can expect sideways trading with a slight downward bias on some profit-taking this week.
The Bangko Sentral ng Pilipinas kept rates steady after an off cycle hike in October. Meanwhile, the stock market is expected to trade upwards this week.
Will the stock market jingle all the way to a rally before the year ends?
More companies are expected to release their financial results this week. Coupled with more data announcements and other events, we see a slight upward bias.
The US Fed rate hike pause and expected cooling domestic inflation will set the mood for the stock market this week.
Volume is expected to remain tepid as investors will stay on the sidelines on holiday thinned trading activity.
Financial results demonstrate Metrobank’s strength and resilience despite unpredictable market conditions.
Expect sideways trading with a downward bias as oil prices rise and more companies release earnings, just before a truncated trading week next week.
Investors will continue to monitor the tumult in the Middle East and key data releases. Expect sideways trading with a downward bias.
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