The S&P500 and Nasdaq scored another record high at the close of last weekend (27/08). The Fed Chair Jerome Powell, in his statement, gave signals to start tapering-off at the end of this year; but yet to see a raise in benchmark interest rate. Market participants took this as a sign of continued loose monetary policy for the time being.
Throughout last week, JCI managed to slightly strengthen by 0.18%; supported by increases in the Technology, Health, and Transportation sectors. Investors will respond to the results of the Jackson Hole symposium meeting and pay close attention to some domestic economic data to be released at the beginning of the month. Technically, JCI has the opportunity to rebound at the beginning of the week with a range of movement at 6,021 – 6,131.
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