Wall Street closed in the green last week (15/10), with Dow Jones leading the gains by 1.09%. Retail sales data surprisingly grew by 0.7% in September, far exceeding consensus expectations that projected a 0.2% contraction. This indicates that the impact of the delta variant on the economy has begun to subside.
The rally of JCI continued with an increase of 0.11% last Friday, although it mostly stayed in the red throughout the day. The development of the electricity crisis that hit several developed countries is still one of the supporting sentiments for stock market movements. Entering a new week, JCI has the potential to re-test the all-time high level with a projected range of movement at 6,600-6,750.
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