Wall Street closed sideways in trading (07/04/2021), although a slight gain in S&P 500 was able to send the index to new record highs. The release of the minutes of the March FOMC meeting confirmed the Fed’s commitment to continue enforcing loose monetary policy. Meanwhile, investors are also considering President Biden’s statement that he is willing to negotiate a proposal for an increase in corporate tax rates.
Domestically, JCI was still able to continue its rebound amidst foreign selling that had not subsided. Investors will observe the impact of the decline in Foreign Exchange Reserves on the rupiah exchange rate. For today, JCI is expected to move in a consolidation range in the area of 5,980 – 6,126.
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