Wall Street closed (12/11) with all three major indexes higher last weekend; led by Nasdaq, which rose 1%. Investors returned to the technology sector, marked by the rise of megacap stocks such as Microsoft, Alphabet, and Meta. In terms of energy, crude oil prices declined again, triggered by the implementation of
lockdowns in several European countries.
From the domestic market, JCI ended last week with a 0.6% correction; although was still able to book an increase on a weekly basis. Market participants will pay close attention to the release of Trade Balance data for the October 2021 period, with the consensus projecting a surplus of USD 3.9 billion. Technically, the movement of the benchmark index is still likely to continue its decline with the range of movement at 6,630-6,710.
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