US stock markets rose again after the Christmas holiday (27/12); with the S&P 500 index continuing a new all-time high. The energy and technology sectors became the pillars of the rally that marked the start of the Santa Klaus rally period. Oil prices managed to rebound almost by 3% after previously slumped due to the sentiment of flight delays following the increase in cases of the Omicron variant.
From the domestic market, the JCI posted a slight gain of 0.19% to 5,575; supported by foreign net buys worth IDR 365 billion. The Raw Materials Sector was the leader of gains in the midst of relatively low trading volume; with an increase of 1.41%. For today, the benchmark index is still likely to continue moving higher with a projected range at 6,500 – 6,620.
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