Wall Street continued its decline on (18/05), led by a correction in the energy sector. Investors responded negatively to the release of new home sales figures, which fell sharply in April. Meanwhile, US Finance Minister Janet Yellen expressed support for the plan to increase corporate taxes to finance the Biden administration’s infrastructure agenda.
Domestically, JCI managed to close flat even though it fell to below 5,800. The initiation of the Gotong Royong vaccination program slightly eased fears of an increase in the number of Covid-19 cases after the Eid holiday. Technically, JCI has the opportunity to move back to the positive area in a range of 5,817 – 5,909.
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