The S&P 500 rose 0.51% boosted by the financial sector, as the UST10Y yield increased to 2.50% or its highest position since May 2019. US Treasury yields jumped in response to speculations of a 50 bps Fed Fund Rate hike in May 2022. High lending rates benefited banking stocks, but pressured technology and growth stocks. The Dow Jones closed up 0.44%, with the Nasdaq down 0.16%.

The JCI closed 0.7% lower on Friday, but was still above the psychological level of 7,000. Investors realized their profits, after the JCI touched a historical high on Thursday. Meanwhile, developments in Ukraine, world oil prices and inflation in Indonesia are the market moving sentiments this week. NHKSI Research projects that the JCI will move upward in the range of 6,900 – 7,100 today.

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