US stock markets in general were still able to strengthen at closing (27/05); although Nasdaq weakened slightly. The cyclical industrial sector had a gust of positive wind from the jobless claims figure which fell back to 406,000. Meanwhile, Republicans are offering proposals worth USD928 billion for President Biden’s planned infrastructure program.
Although it had time to re-penetrate 5,900; JCI strengthening yesterday was held back by large bank stocks which weakened towards closing. Investors will pay close attention to the various corporate action plans that are happening. Towards the end of the week, JCI will try to strengthen within a limit; the projected range of movement is 5,800 – 5,975.
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