The S&P 500 and Nasdaq booked another record high on (25/08). Investors welcomed the passage of a USD 3.5 trillion infrastructure budget that will be on the agenda of President Biden’s administration. The yield on the 10-year US Treasury rose again above the 1.3% level and boosted the financial sector stocks.
Domestically, JCI managed to rebound, supported by foreign net buys of IDR 789 billion. This strengthening is in line with the majority of global stock exchanges which tend to be optimistic ahead of the annual meeting of The Federal Reserve which will be held today. Technically, JCI still has the potential to continue rising with a projected range at 6,080 – 6,180.
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