All three major US indexes closed sharply higher in trading (14/10); with the S&P 500 up 1.71%. Technology and banking sector stocks were the drivers, following positive results from several companies that have released their quarterly performance. Meanwhile, weekly jobless claims fell to 293,000, much better than the estimated 320,000.
In line with the majority of global exchanges, JCI resumed its upward rally past the 6,600 level. Apart from blue chips, yesterday’s gains were also supported by the technology sector which posted a 4.15% increase. Towards the weekend, JCI has the potential to test the all-time high point with a projected range of movement at 6,550-6,750.
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