The Dow Jones and S&P 500 closed trading last weekend (16/04/2021) with new record highs. The release of economic data that was better than expected and the strong financial performance for the first quarter of 2021 became ammunition for the US stock market to continue the bullish trend. This week, investors’ attention will be on mega-cap technology stocks which are scheduled to release quarterly financial reports.
Over the past week, the JCI managed to rebound by 0.26%, which was marked by the return of buying from foreign investors. Market participants will be watching the results of the announcement of the BI RDG results this week as well as the release of US economic data which can provide a clearer indication of the economic recovery in the country. Entering the new week, JCI is expected to continue its consolidation with a range of movement at 6,000 – 6,115.
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