Wall Street ended in the green last weekend (5/11); with all three major indexes booking new all-time highs. Employment data recorded 531 thousand new jobs created during the last month; exceeding the consensus estimate of 450K. The unemployment rate managed to drop from 4.8% to 4.6%.
Meanwhile, JCI ended on a slight decline at the end of last week; with the largest decline seen in the Energy and Property sector. Statistics Indonesia (BPS) announced economic growth of 3.51% yoy in the third quarter of 2021. Entering the new week, the benchmark index has a limited opportunity to strengthen with a projected range of movement at 6,550-6,680.
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