Wall Street closed in the red in trading (27/07); ending the last 5 days of gains. The losses were led by Nasdaq which fell 1.2%; indicating profit taking amid the solid performance of technology companies. The Federal Reserve will start its monthly meeting today, where investors will await the latest signal from the central bank.

Domestically, JCI resumed its sideways phase after a slight decline of 0.15%; with 7 out of 11 sectors declining. The market is still watching the developments of the Covid-19 pandemic; where Indonesia recorded the highest rates of recovery and death. For today, the JCI is expected to remain under pressure with a range of movement at 6,000 – 6,166.

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