Stocks rebound on mixed US inflation report

Philippine stocks bounced back Thursday as investors digested the latest inflation report from the United States.

A mixed US inflation report also boosted Asian equity markets Thursday as it soothed fears of a possible Federal Reserve interest rate hike next week, though the still hot reading left open the possibility of one more before year’s end. “However, the is not likely to declare victory until it sees further evidence of improvement towards the two percent target. They will remain open to further rate hikes, if needed.”

The Fed has insisted that its decision-making would be based on incoming data, meaning any indication that prices were on their way back up will likely spook markets.

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