US stock markets closed mixed in trading (16/09), with slight losses in Dow Jones and S&P 500. The US retail sales data reported an increase of 0.7% for the August period, much better than the consensus forecast that predicted a contraction of 0.8%. Meanwhile, the number of weekly jobless claims increased to 322.000, or up by 20.000 from the previous week.
From the domestic market, the JCI is still in the consolidation phase amidst the lack of new positive sentiment. Investors are likely to be cautious ahead of the Federal Reserve’s meeting next week, which is expected to give a clearer signal on the direction of monetary policy. Towards the end of the week, JCI’s range of movement is expected to remain in the area of 6,050 – 6,150.
Download full report HERE.