Wall Street rallied amid US Midterms. The Dow appreciated 300 points, or 1% leading Wall Street’s gains. As for the US Midterms outcome, it will determine Congress’s control amid fears of major changes in politics. Yesterday’s market moves, amid investors’ wait for the release of inflation data on Thursday local time, provide a further indication of whether the Fed can slow down the aggressive rate hikes.
JCI suppressed amid several positive sentiments. As for Basic Material and Infrastructure, both weakened by 1% or led the sectoral weakness. JCI closed at 7,050 or weakened by 52 points. Market movements yesterday, amid positive sentiment on the realization of economic growth of 52% YoY in 3Q22 and the rupiah exchange rate which relatively maintained within the level of IDR15,698/USD. NHKSI Research projects JCI today to move bullish.
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