US stock markets closed lower in trading (03/06); led by Nasdaq which fell 1.03%. The weekly jobless claims data fell below the 400,000 level for the first time since the pandemic started. Investors are also anticipating the release of a better payroll report; which again led to speculation that the Fed will soon discuss raising interest rates.
From the domestic market, foreign buying of big cap stocks was able to encourage JCI to continue its strengthening rally. Optimism for economic recovery coupled with the dividend distribution season are still the main strengthening sentiments. For today, JCI will try to test the nearest resistance level with a projected range of movement at 6,060 – 6,226.
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