Wall Street started the week (04/10) with declines in all three major indexes; led by Nasdaq which fell 2.14%. Expectations of rising Treasury yields put pressure on growth category stocks such as the technology sector. The market is also still waiting for developments regarding the increase in the US Government debt ceiling ahead of the October 18 deadline.
Domestically, JCI posted a significant gain of 1.83%; supported by large cap stocks. Investors have again accumulated in several sectors that are closely related to economic recovery, such as: Banking, Energy, Industry, and Property. For today, JCI has the opportunity to strengthen again with a range of movement at 6,300-6,400.
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