All three markets closed with sharp gains in trading (05/04/2021), marked by new record highs for Dow Jones and Nasdaq. Investors received a positive sign from the March employment data which showed 916,000 new jobs, or the best monthly achievement since the pandemic. On the other hand, the stable 10-year Treasury yield helped boost technology sector stocks.
Meanwhile, yesterday’s decline in the JCI was an anomaly amid the gains experienced by the majority of global and regional indexes. The US economic recovery, which is estimated to be quite rapid, has made foreign investors continue the net sell action that has occurred during the past month. For today, JCI is projected to be in the range of 5,900 – 6,050.
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