The S&P 500 joined Nasdaq in setting a record high closing on (18/08/2020), as well as returning to pre-pandemic levels. The very fast rebound in the US markets was triggered by investor optimism for the economic recovery, hopes for new stimulus, and the development of the Covid-19 vaccine.
Meanwhile, trade balance data showing an increase in surplus were still able to lift the JCI yesterday. As for the announcement of the 7-DRRR interest rate today, markets tend not to expect changes. Approaching the long holiday, the JCI movement is prone to profit taking.
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