US stock markets closed lower again at the end of last week (07/01); marked by continued corrections in technology stocks. US employment data reported 199K new jobs in December, far short of the 400K estimate. However, this did not dampen expectations of an increase in interest rates, marked by the yield on the 10-year US Treasury which briefly touched 1.8%.
JCI closed the first week of 2022 with a 0.72% strengthening last Friday, supported by foreign net buys worth IDR 944 billion. Market participants will pay close attention to the release of the Consumer Confidence Index (CCI) data, which was last reported to be in the optimistic zone at the level of 118.5. For today, JCI has the potential to continue strengthening with a projected range of 6,650 – 6,820.
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