US stock markets rose in trading (29/04/2021), marked by S&P 500 closing at a new record high. US GDP growth in the first quarter of 2021 is reported to be 6.4% or higher than the estimated 6.1%. On the other hand, mega-cap technology companies such as Apple and Facebook also posted brilliant performances earlier this year.
From the domestic market, the continued rebound in JCI was able to bring the benchmark index to close above 6,000. This strengthening was supported by the mining sector which rose by 2.01%, in line with improving world commodity prices. Towards the end of the week, JCI was quite vulnerable to profit taking with a projected range of movement at 5,950 – 6,030.
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