US stock markets closed last month (29/10) in the green, with all three major indexes simultaneously posting new all-time highs. Health and technology sectors were the main drivers, although Apple and Amazon’s performance was lower than expected. Meanwhile, crude oil prices rose again as OPEC+ is
expected to maintain production cuts.
Despite ending last week with a gain of 1.03%; on a weekly basis, JCI declined by 0.79% following the fall of large-cap consumer stocks. In the beginning of the month, market participants will pay close attention to the release of routine economic data such as Inflation rate and Manufacturing PMI. Technically, the movement of the benchmark index has a chance to strengthen with a projected range of 6,560-6,680.
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