Stocks prices rise on hopes of Fed rate cut

PHILIPPINE stocks surged anew on Thursday, with the local stock barometer testing the immediate resistance of 7,000 points before pulling back on last-minute profit-taking, as investors took their cue from Wall Street's rally overnight and the US Federal Reserve's hint of a possible September rate cut.Meanwhile, the Philippine peso held firm against the greenback for the fourth consecutive day on Thursday.The benchmark Philippine Stock Exchange index climbed 0.89 percent, or 61.

''Most Fed officials signaled that easing monetary policy would be appropriate trading week in the green after the Fed's July meeting minutes indicated a potential rate cut in September, boosting investor optimism.''Most Fed officials signaled that easing monetary policy would be appropriate if economic data meets expectations, raising hopes for lower interest rates soon,' he said.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Philippine stocks fall as peso tumbles against the dollarDefining the News
Source: MlaStandard - 🏆 20. / 55 Read more »

PH stocks to retest 7,000 level on Fed rate cut hopesDefining the News
Source: MlaStandard - 🏆 20. / 55 Read more »

Stocks soar on wholesale inflation slowdown; Fed rate cut hopes rise | Stan ChoeNEW YORK—US stocks rallied Tuesday to one of their best days of the year after the first of several highly anticipated reports on the economy this week came in better than expected. The S&P 500 jumped 1.
Source: BusinessMirror - 🏆 19. / 59 Read more »

PH stocks climb on positive comments from US FedDefining the News
Source: MlaStandard - 🏆 20. / 55 Read more »

PH stocks decline ahead of US Fed meeting this weekDefining the News
Source: MlaStandard - 🏆 20. / 55 Read more »