Investors await Fed meeting results

THE stock market’s direction this week is expected to be influenced by the results of a US Federal Reserve meeting on Wednesday, US time, when policymakers are widely expected to announce a fourth interest rate hike for the year.

“Investors will take cues from the move of the Fed…,” Timson Securities, Inc. trader Jervin de Celis said, adding that the “FOMC’s (Federal Open Market Committee) outlook for the US economy will also be announced so if estimates remain favorable for the US, we might see a continutation of foreign selling in our market.”