S&P 500 closed with a record high on (21/10); led by the consumer discretionary sector. The rise in the 10-year US Treasury yield nearing 1.7% also didn’t deter the tech sector from continuing gains. Meanwhile, the weekly jobless claims figure fell to 290K; the lowest level since the Covid-19 pandemic.
Domestically, JCI experienced a 0.35% correction in the midst of foreign net buy transactions which were still recorded at IDR 531 billion. The energy sector led the decline by 3.26%; as global commodity prices began to stabilize. Towards the end of the week, JCI is expected to continue to consolidate in the range of 6,600-6,750.
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