Wall Street closed last weekend (10/12) in the positive territory; with S&P 500 up 0.95% while setting a new record high. US inflation last November was recorded at 0.8% MoM and 6.8 YoY. Although this figure is the highest in 39 years, it is in line with market expectations.
Over the past week, JCI was able to record a 1.75% gain; supported by increases in 10 of the 11 sectoral indexes. This week, market attention will be on the last Bank Indonesia Board of Governors Meeting (RDG) in 2021; and the FOMC meeting to be convened by The Federal Reserve. Technically, JCI still has the potential to move even higher in the range of 6,600-6,750.
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