Wall Street closed last week with significant gains, in line with nearly all global stock markets. The rise was marked by S&P 500 breaking above the 4,000 level for the first time. Investors welcomed the presentation of Biden administration’s planned USD 2 trillion infrastructure policy package over the next 8 years.

JCI was still continuing its downward trend with a correction of 2.97% over the past week. Market participants will expect positive catalysts from several economic indicators that will be released this week, such as the Foreign Exchange Reserves and Consumer Confidence Index (IKK) for March 2021. Today’s JCI is expected to consolidate in the range of 5,950 – 6,100.

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