US markets closed on the mix in the first day of July. The Dow Jones closed lower while the S&P 500 index and the Nasdaq managed to book a rise. Improved economic data on employment and manufacturing are still offset by an increase in new cases of Covid-19 in the US which reached 40,000 per day.
As for today’s JCI movement, investors will continue to digest the announcement of the June inflation rate which is still quite low (0.18%) MoM but still shows an increase compared to the previous month. This indicates a change in inflation trends that historically have always peaked in the Ramadhan-Eid period.
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