Dow Jones scored a new record high once again in trading (05/05). The gains were supported by stocks from the cyclical sector such as Energy and Materials, along with continued optimism for US economic recovery. The market also got a breath of fresh air from clarification by US Finance Minister Janet Yellen, who emphasized that there was no visible inflation problem.
From the domestic market, JCI was still able to continue its gains, led by banking and metal mining stocks. The Q1/21 GDP release that was in line with expectations did not appear to have a significant impact on the capital market. For today, JCI has the potential to be limited by profit taking on a range of 5,900 – 6,030.
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