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The local bourse closed higher at 6608.36.

Sessions might glide to Wall Street’s incline, given indications from Fed chief Powell on interest rates.

Sessions might move sideways, possibly with an upward bias, as investors sift through select shares with attractive valuation.

The week’s attention would be on the local central bank’s policy meeting, specifically on officials’ outlook on interest rates given the latest April inflation & 1Q24 GDP data.

The PSEi retreated by -1.57% w-o-w to close at 6,511.93.

The local bourse fell by 116.72 points and continued to move sideways after a rejection from MA100.

Slower year-on-year (YoY) GDP growth comparison is expected, with high base effect for 1Q23.