JCI’s Moved Sideways
On early days of last week, consumers’ dampened optimism retreated JCI to 0.34%. June’s CCI slowed at 126.4, lower than May’s 128.2, as did CEI to lag at 138.1— a fall from May’s 142.9. The murky outlook of next-6-month slump in wages, business activities, and job data was a logical takeaway for the slumping figures. After the tepid close, JCI was rebounding 0.35% on mid-days of last week as the Fed’s signal of loosen monetary stance proved a potent driver for JCI movement. On Friday (7/12) JCI dipped 0.68% as investors retained profit-taking to anticipate the trade balance figure to be released on Monday (7/15). BI has not taken any pre-emptive stance following the Fed’s hint of rate cut; thus, investors pulled out their money, while awaiting BI’s Board of Governors Meeting to be held on Thursday (07/18). Last week, JCI closed flat at 6,373.
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