US stock market closed mixed on trading (16/03/2021), marked by a decline in Dow Jones after strengthening for 7 days in a row. Market participants will be watching the direction of the Federal Reserve’s policy at the ongoing FOMC meeting. Meanwhile, US retail sales last February was reported to have fallen by 3% on a MoM basis.
Contrary to the direction of regional stock markets, JCI’s move on yesterday’s decline was dragged by commodity-based stocks. Investors tend to wait and see ahead of the results of the FOMC and BI RDG meetings which will be announced tomorrow. Technically, today JCI is expected to move in the range of 6,296 – 6,400.
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