Wall Street closed lower in trading (02/03/2021) with the largest decline experienced by Nasdaq. Investors are seen again rotating out tech-based stocks. The discussion on the stimulus aid package at the senate which will take place this week has added to optimism for economic recovery.
Domestically, JCI seems to have started moving away from the consolidation phase after strengthening earlier this week. However, the depreciation of Rupiah against US Dollar and slowing economic data have the potential to put pressure on the market. For today, JCI is expected to move with a tendency to weaken in the range of 6,270 – 6,388.
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