Dow Jones and S&P 500 managed to close at new record highs on (11/08), while Nasdaq edged lower. Investors responded positively to the US Senate’s decision to approve a proposal for an infrastructure package aimed at improving transportation and telecommunications access. July inflation data showed an increase of 0.5% on a monthly basis; so US inflation is at 5.4% yoy.
In the second week of August, JCI was still under pressure with the decline led by the Technology sector. With the lack of new positive domestic sentiment, market players will pay close attention to indications of the start of tapering policy from the Federal Reserve. Technically, JCI is projected to be in a lower range of 6,000 – 6,150 area.
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