Wall Street managed to rebound in trading (28/01/2021), after being hit by a sell-off the previous day. The market began to appreciate the release of financial reports of large companies, the majority of which beat analyst expectations. Meanwhile, data shows the US economy was able to grow by 4% in the fourth quarter of 2020.
The decline in the JCI for 6 consecutive days caused the benchmark index to close below the 6,000 level for the first time in 2021. Although there is still a lack positive catalyst, investors will start to watch for the start of the financial reporting season after PT Bank Mandiri Tbk (BMRI) released its 2020 performance. Today, JCI is expected to move in the range of 5,835 – 6,195.
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