US stock market declined at the end of November (30/11); marked by a weakening of the S&P500 by 1.9%. The chair of the Federal Reserve, Jerome Powell, signaled a faster implementation of tapering in line with continued inflationary pressure. This adds to the dynamics of the market, which is still plagued by concerns about the impact of the Omicron variant of the Covid-19 virus.
Domestically, JCI closed lower by 1.13% despite turning green in early trading yesterday. Concerns about the effectiveness of the Covid-19 vaccine against the Omicron variant, as well as the increase in PPKM to level 2 in the DKI Jakarta area, are some of the market’s ballast sentiments. Technically, the benchmark index is expected to fluctuate again in the range of 6,500-6,650.
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