Wall Street closed last week (17/12) with losses in all three major indexes; led by Dow Jones which fell 1.48%. Market participants are weighing the impact of the Federal Reserve’s decision to end stimulus more quickly, as well as plans to increase interest rates. Meanwhile, several countries in Europe have begun to impose activity restrictions to suppress the spread of the Omicron variant of the Covid-19 virus.
Although it still leaned toward being under pressure, JCI had managed to close slightly higher by 0.11% last Friday. Investors still expect Window Dressing action to support stock market movements, amid the lack of new positive sentiment towards the end of 2021. Technically, the benchmark index still has the potential for limited gains at the beginning of the week with a projected range of movement from 6,550-6,661.
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