US stock market started October (01/10) in the green, with significant gains in all three major indexes. The market received positive sentiment from the news of an experimental Covid-19 drug made by Merck & Co that can reduce the death and hospitalization rate by up to 50%. Investors are also watching the progress of the infrastructure stimulus package which is currently being debated in the US parliament.
Although declining at the end of last week, the JCI was still able to post a weekly gain of 1.37%. The energy sector was the main driver with an increase of 17.76%; in line with the sentiment of the energy crisis in China which raised commodity prices. Entering a new week, JCI will try to maintain a higher consolidation range above 6,200.
Download full report HERE.
