The US stock markets closed mixed in trading (06/07), with S&P 500 ending its gains during the previous 7 sessions. The technology sector was still able to move positively, along with the decline in the 10-year US Treasury yield to 1.35%. Meanwhile, crude oil prices were volatile after OPEC+ was unable to reach an agreement on production cuts.
Domestically, JCI was able to rebound despite the lack of new positive sentiment; with gains occurring in 9 out of 11 sectors. Investors will pay close attention to the release of Foreign Exchange Reserves data for June which is estimated to remain at a safe level to maintain Rupiah’s stability. For today, JCI is expected to move within the consolidation range at 5,950 – 6,130.
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