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Stocks inch higher on bets of aggressive Fed hike - BusinessWorld Online

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The Philippine Stock Exchange index (PSEi) went up by 13.47 points or 0.21% to close at 6,223 on Tuesday, while the broader all shares index increased by 5.22 points or 0.15% to 3,364.99. READ:

The Philippine Stock Exchange index went up by 13.47 points or 0.21% to close at 6,223 on Tuesday, while the broader all shares index increased by 5.22 points or 0.15% to 3,364.99.

Mr. Arce said that the President’s pledge to pursue “prudent” fiscal management and tax reforms gave local equities a boost. Mr. Lood said “statements by Fed Chairman Jerome H. Powell after the announcements will be vital, as some investors fear that aggressive rate increases will push the US and global economies into recession.”

Investors also want to see if emerging risks to the economic outlook would cause the Fed to signal less aggressive rate increases in its coming meetings.

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