US stock markets closed higher, driven by rising technology stocks. Nasdaq closed higher by 1.9%, followed by S&P 500 and Dow Jones, which rose 0.8% and 0.3%, respectively. Meanwhile, yield inversion persists in the US bond market between the US Treasury series UST2Y and UST10Y, which is seen as an indicator of a US recession in the next two years or so. Investors remain concerned about the crisis in Ukraine, which has led to a spike in commodity prices that exacerbated the already high inflation outlook.
JCI closed higher by 0.5% to 7,116 yesterday. Market participants are still watching for the recession signal coming from the US government bond market, as well as rising crude oil prices which could trigger higher inflation. NHKSI Research projects that the JCI will move upward today, within a range of 7,000 to 7,200.
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