Stocks surged more than 7% last week, Wall Street's best performance since 2009, as traders grew hopeful that global policymakers are taking action to tackle Europe's two-year-old debt crisis.
The Dow Jones Industrial Average, as quoted by foxbusiness.com, fell 0.61 point, or 0.01%, to 12,019, the S&P 500 slipped 0.3 point, or 0.02%, to 1,244 and the Nasdaq Composite gained 0.73 point, or 0.03%, to 2,627.
Action was fairly subdued on the day, with the major market averages making only small moves. The S&P 500 leaped 7.4% on the week, its best performance since March 13, 2009, which is considered to be the beginning of the current bull market. The broad-market index has nearly doubled since hitting its bear-market low of 666.79 on March 6, 2009, but is still down by 1.1% for the year.
The Dow tacked on 788 points, or 7%, the second-biggest weekly point gain in the history of the blue-chip index, and the best percentage performance since July 2009. How about Indonesia stock market today? Bisnis Indonesia provides recommendations today:
Jakarta Composite Index may move sideways today. Investor will anticipate the release of the US nonfarm payroll. The index is estimated to move within the range of 3,520-3,842.
We estimate that the index may be mixed and move within the support-resistance level of 3,740-3.809.
Today, the index technically may continue to rise within the range of 3,750-3,810. The US's employee data that will be released tonight and debt crisis development in the Euro Zone may provide sentiments to the JCI. Several stocks to watch: UNTR, HRUM, CPIN, and ASRI.
Disclosure: No position at the stock mentioned above.
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