The three main US markets simultaneously rose slightly at the end of trading last week. Even though the April inflation data showed an increase, the yield on the 10-year Treasury Bond actually fell to 1.58%. This indicates that market participants believe that the increase in inflation will only be temporary and are back to chasing technology stocks.
Throughout last week, JCI was able to strengthen by 1.31% with foreign net buys almost reaching IDR2 trillion. Investors will be paying close attention to the release of economic data at the beginning of the month, such as the May inflation rate and the Manufacturing PMI index. JCI will try to continue strengthening in the range of 5,800 – 5,900.
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