US stock markets closed in the green zone on (22/12); with increases in all three major indexes. Positive sentiment came from the news that Pfizer’s Covid-19 drug, Paxlovid; has obtained an emergency use permit. Meanwhile, the energy sector was able to strengthen by 1%; after US crude oil stockpiles reported a larger-than-expected decline.
Domestically, JCI continued to be under pressure with a 0.38% decline yesterday to 6,529. As many as 8 of the 11 sectoral indices declined, amidst the lack of new driving catalysts. Technically, the benchmark index has a chance to test the psychological support level with a projected range of movement at 6,500-6,620.
Download full report HERE.
