SONA, Fed rates, earnings to sway stocks this week

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The State of the Nation Address, an expected rate hike by the US Federal Reserve, and corporate earnings are seen to influence what is seen to be volatile trading at the local stock market this week.

“Next week, we expect the local market to start on cautious trading as investors await the State of the Nation Address for clues on the local economy’s direction,” said Philstocks Financial Senior Supervisor for Research Japhet Tantiangco.

Aside from the SONA, Tantiangco said investors are expected to take cues from the Federal Reserve’s upcoming policy meeting. It noted that firms such Meralco, Wilcon, and the Aboitiz group will also be reporting their first half performances and “overall results for the first half should print better year-on-year.”

Source: News Formal (newsformal.com)

 

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