With the Philippine stock market on a six-week winning streak, investors will decide if gains can be sustained by taking cues from the release of the country’s balance of payments data, US jobs and home sales reports, as well as recent corporate earnings results.

“The local market is already on a 6-week winning streak with last week’s rise attributed mainly to the progress between the US and China’s trade relations... Noticeably however, is the thinning gains of the market as selling pressure strengthens amid investors’ caution,” said Philstocks Financial Research Manager Japhet Tantiangco.

He noted that, “The local market is still deemed to be at undervalued levels despite the 6-week rise. Hence, there is still room for bargain hunting. However, investors are expected to look for catalysts that would compel them to get into the bourse.”

Rizal Commercial Banking Corporation Chief Economist Michael L. Ricafort said upcoming major economic data include the Philippine BOP and US data on jobless claims, home sales, as well as the S&P Global Manufacturing and Services purchasing managers’ index

Tantiangco added that investors are still expected to go through first quarter corporate results while watching out for developments on the global trade front with signs of progress on negotiations with the US expected to fuel positive sentiment in the market.

Online stock brokerage 2TradeAsia.com said “Markets continue to wrestle with opposing forces as global data sends mixed messages. U.S. inflation dipped to another multi-year low, but inflation expectations remain elevated amid lingering tariff effects and stickier services prices.”

For stock picks, COL Financial continues to have a BUY rating for Globe Telecom as the potential for capital appreciation from its investment in GCash is still significant despite a reduction in core income estimate for 2025 and 2025 “after cutting our service revenue forecast.”

COL also has a BUY rating for First Philippine Holdings Corporation after its earnings beat forecasts and noted that, “Given FPH’s 68 percent ownership in FGEN, we view FPH as a cheaper way to own FGEN. FPH is trading at a huge 57 percent discount to its market based net asset value of ₱133 per share.”