Most of the major US indexes closed lower on Monday (14/03), led by the Nasdaq which fell more than 2%, as market participants took profit on technology stocks. This investor action is ahead of the Fed meeting, which is projected to start raising the benchmark Fed Funds rate by 25 bps. Meanwhile, the fourth meeting between Russia and Ukraine have found no progress, further adding to investor caution.
From the domestic market, the JCI closed higher by 0.43% to 6,952.20 earlier in the week; marked by strengthening in 7 of 11 sectors. Today, investors are looking forward to the release of trade balance data for February which is projected to have a surplus of USD 1.75 billion, as well as data on exports and imports for February. Continuing trading at the beginning of the week, today JCI is trying to maintain movement in the range of 6,850 – 7,000.
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