Wall Street closed lower on (03/03); with the three major indexes simultaneously contracting. Russia’s invasion of Ukraine is feared to increase inflationary pressures; along with rising energy commodity prices and supply chain disruptions. Investors will also be waiting for monthly payroll data, which is projected to record 600,000 new jobs throughout last February.
Domestically, the volatility of the JCI continued with a 0.77% decline to 6,868 on Wednesday (02/03). The continuation of the geopolitical crisis in Ukraine and profit-taking will again clash with sentiment of rising commodity prices and the release of the 2021 Financial Statements. Towards the end of the week, the movement of the benchmark index will try to rebound with a projected range of movement in the area of 6,850-7,000.
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