The Dow ended the day with in the red, while the Nasdaq modestly advanced, as traders mulled a mixed batch of economic data and traded cautiously following big gains earlier in the week.
The Dow Jones Industrial Average, as quoted by foxbusiness.com, fell 25.7 points, or 0.21%, to 12020, the Standard & Poor's 500 slipped 2.4 points, or 0.19%, to 1245 and the Nasdaq Composite rose 5.6 points, or 0.22%, to 2626.
In contrast to the bullish start to this week, the markets wobbled most of the day as traders mulled disappointing weekly jobless claims, and an uplifting U.S. manufacturing report.
“We’ve got a hangover from what we saw yesterday,” Will Hedden, a trader at London-based IG Index said in an interview. “People are being very cautious after the big move yesterday.”
Thanks to emergency action from central banks around the world and upbeat economic signals, the blue chips rocketed 490 points higher on Wednesday -- their best performance since March 2009. Over the week's first three days, the benchmark index has surged 814 points, or 7.8% -- its biggest three-day rally in more than two years on a percent basis. How about Indonesia stock market today? Bisnis Indonesia provides recommendations:
Jakarta Composite Index (JCI) today may move within the range of 3,748-3,683 with several stocks to watch: AKRA, CTRS, and UNTR. The JCI technically rose in 4 consecutive days.
The JCI is estimated to move within the support-resistance level of 3,742-3.800. The index increase yesterday was driven by central banks that will help solving the debt crisis in Euro zone.
The index may continue to rise within the range of 3,730-3,850. Bond auction of Spanish and France along with manufacturing data in the US could provide positive sentiments to the JCI. Several stocks for day trading: ITMG, INDF, UNTR, and AKRA.
Disclosure: No position at the stock mentioned above.
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