US stock markets closed trading in April with a decline in all three major indexes. Even though company performance reports and the release of economic data are still on a positive trend, stock prices, which have risen quite aggressively, need a reasonable correction. Meanwhile, the worsening Covid-19 case in India has also put pressure on world oil prices.
Throughout April, JCI’s movement was relatively stagnant with a slight increase of 0.17%. Investors will be watching the release of economic data such as the Manufacturing PMI index, which reached its highest point last month, as well as inflation which is expected to increase in this Ramadan period. JCI twill still try to get out of the consolidation phase today in the range of 5,950 – 6,030.
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