Dow Jones closed last weekend (22/10) with a new record high, while S&P 500 and Nasdaq declined. The head of the Federal Reserve, Jerome Powell; reaffirmed the view that inflationary pressures were only temporary and it was not yet time to raise interest rates. This week, investors will be watching the release of US GDP data and the financial performance of major technology
companies.
Despite going up 0.16% throughout last week; the upward trend in the JCI seems to be starting to hold up at the all-time high level. Market participants will continue to pay close attention to the release season for the third quarter of 2021 Financial Statements; and sentiment on global commodity price movements. Technically, the benchmark index is expected to move in the range of 6,600-6,750.
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