US stock markets closed lower on (05/01); marked by a sharp correction on Nasdaq by 3.34%. Investors responded to the release of the Federal Reserve’s December meeting minutes, which signaled a more hawkish monetary policy than expected. This triggered higher bond yields, with the 10-year US Treasury breaking the 1.7% level.
JCI recorded the first decline in 2022 by 0.49% yesterday, marked by a weakening in 10 of 11 sectoral indexes. Market participants will still be faced with the challenge of the changing Federal Reserve policy and the increasing number of Covid-19 cases. As for the movement of the benchmark index, it will try to rebound with the projected range of movement at 6634 – 6750.
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