US stock markets tended to strengthen at the closing (20/10), with Dow Jones reaching the record intraday high. The widespread release of financial performance for the third quarter of 2021 is still a positive catalyst for stock index movements. Analysts expect an average net profit increase of 33% yoy at S&P500 member companies.
Although slightly weaker in trading (19/10); the positive momentum of the JCI was still maintained with the accumulation of foreign net buys reaching IDR 513 billion. The outward rotation of new economic stocks seems to be continuing, marked by the decline in the technology sector index by 1.57%. Technically, the JCI has the potential to re-test the all-time high level with a range of movement at 6,600-6,750.
Download full report HERE.