Wall Street closed lower in trading (13/07), marked by declines in all three major indexes. The release of US inflation data showed an increase of 5.4% yoy last month; the highest increase in the last 13 years. Meanwhile, major banks such as JP Morgan and Goldman Sachs started the financial reporting season by posting above expectation performances.
Domestically, JCI’s movement rate was halted amid plans to extend the emergency PPKM to 6 weeks. Investors also responded negatively to the 2021 economic growth revision from the Ministry of Finance and Bank Indonesia. Technically, JCI will try to stay above the psychological level of 6,000; with a projected daily range of 5,950 – 6,130.
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