Despite closing higher on Friday (23/04/2021), the three major US markets experienced a decline over the past week. Planned capital gains tax increases offset the positive news from economic data and financial performance releases. Investors will be looking for signals from the results of the Federal Reserve’s meeting scheduled for this week.
The lack of domestic sentiment and concerns about the increase in the number of Covid-19 cases, mean JCI still tend to be depressed. The market will anticipate the release of the first quarter of 2021 financial statements which are expected to be able to provide an indication of the issuer’s performance recovery. For today, JCI still has the opportunity to continue the rebound with a range of movement at 5,973 – 6,115.
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