Wall Street started February (01/02) on a higher note; with all three major indexes closing in the green. Technology sector stocks closed higher, amid anticipation ahead of the release of major companies’ financial performances, such as Alphabet, Facebook, and Amazon. Meanwhile, the US Manufacturing PMI data fell to 57.6 in the January 2022 period; from 58.8 in the previous month.
JCI closed 0.22% lower on (31/01) to 6,631; thus cumulatively increased by 0.75% over the past month. Market participants will pay close attention to the release of routine economic data at the beginning of the month, but the spike in the number of Covid-19 cases still has the potential to be a negative sentiment. Technically, the benchmark index is expected to move with a tendency to strengthen in the range 6600-6700.
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