Wall Street closed in the red in trading (17/08), which was marked by corrections in all three major indexes. The market responded negatively to the release of Retail Sales data which fell 1.1% for July; triggered by weak sales of cyclical goods. Meanwhile, Fed chief Jerome Powell said they were paying close attention to how much impact the Delta variant had on the economic recovery.
Domestically, the implementation of PPKM level 4 in Java-Bali has been extended until August 23, 2021, although it is accompanied by some easing in shopping centers and offices. The government has also announced the basic macro assumptions for 2022, with economic growth targeted at between 5% – 5.5%. Technically, JCI movement today has the potential to rebound in the range of 6,070 – 6,220.
Download full report HERE.
