Wall Street closed last week’s trading (02/07) in the green; marked by continued new records for Nasdaq and S&P500. The data release showed 850K new jobs in June, far beating consensus projections of 720K. This has an impact on inflation expectation, which is expected to remain above 4% until next year.
After moving sideways on a weekly basis, today’s JCI movement has the potential to be depressed. Investors will still be overshadowed by the impact of the Emergency Micro PPKM; amid the daily positive case numbers that continue to rise. Technically, JCI is expected to move in the range of 5,950 – 6,130.
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