Concerns about the ongoing conflict in Ukraine, US inflation, and the Fed’s stance remained negative sentiments for the end of 1Q22. All three US stock markets closed lower by more than 1.5%. The movement of the US stock market is increasingly sensitive to the development of peace between Russia and Ukraine. The already high US inflation in line with rising commodity prices has the opportunity to make the Fed more aggressive in raising its benchmark interest rate. Investors are also looking forward to the release of unemployment rate data to confirm the strength of the US labor market.

JCI went up by 0.3% to 7,071 in the last 1Q22 trading, supported by gains in 7 out of 11 sectors yesterday. Meanwhile, the energy sector led the gains with an increase of up to 2.56%. Movements in global stock markets, US Treasury yields, and commodity prices remained the market moving sentiment in early 2Q22. NHKSI Research projects that the JCI will move downward (technical correction) today, with a range of 7,000-7,100.

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