US stock markets closed the last trading day of February mixed, with the Dow Jones and S&P lower. Meanwhile, the rise in technology stocks again managed to lift the Nasdaq into the green zone. On a weekly basis, the three major stock market posted declines after being shrouded in fears of an increase in yield on US bonds which had penetrated 1.5%.
Although during the month of February, JCI was able to strengthen 6.47%, however the majority of these increases occurred only in the first week and tended to be sideways afterwards. Entering March, market players will be watching the release of routine economic data such as the Inflation rate and Manufacturing PMI. JCI movement today is expected to be in the range of 6,200 – 6,314.
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