US stock market managed to rebound at the close of trading (03/08); marked by a new record high for S&P 500. The gains were led by the energy and health sectors amid the continued high spread of the Delta variant of Covid-19. The yield on the 10-year US Treasury is still below 1.2% after the release of manufacturing data which was reported to have slowed.

Domestically, the JCI was still able to continue strengthening at the beginning of the week; supported by the Transportation, Industry, and Finance sectors. The implementation of PPKM level 4 seems to be starting to bear fruit as the daily number of cases is decreasing. For today, JCI will try to move up to a higher consolidation range with a projected movement at 6,100 – 6,226.

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