Wall Street closed higher the day before the Fed meeting amid falling oil prices. The Central Bank of the United States (US) is projected to raise its benchmark interest rate by 25 bps, for the first time in three years. Meanwhile, oil prices fell 7% amid hopes of an end to the conflict in Ukraine.
Yesterday, declines occurred in all sectors, led by transportation and logistics, pushing the JCI down nearly 0.5% to 6,918.19. Positive sentiment on the trade balance surplus and the strengthening of the US stock market have the opportunity to support the JCI movement today, which we project to rebound with a range of movement in the range of 6,850 to 7,000.
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