The markets tacked on solid gains on Wednesday, helped by financial, energy and technology shares, on stronger-than-expected quarterly results from investment banking titan Goldman Sachs and encouraging developments from the IMF.
The Dow Jones Industrial Average, as quoted by foxbusiness.com, gained 96.9 points, or 0.78%, to 12579, the S&P 500 rose 14.4 points, or 1.1%, to 1308 and the Nasdaq Composite rose 41.6 points, or 1.5%, to 2770.
Wall Street has had a strong start to the year. The Dow, S&P 500 and Nasdaq all closed at their highest values since July on Thursday. How about Indonesia stock market today? Bisnis Indonesia provides recommendations from several brokerages:
Jakarta Composite Index (JCI) may move mixed and tend to rise. We estimate that the JCI moves within support-resistance level of 3,855-4,000.
Following Fitch Ratings, Moody's yesterday upgraded credit rating of Indonesia to investment grade or Baa3 from Ba1. This actions will improve investor trust on Indonesia economy prospect and stability.
The JCI is estimated to move within the range of 3,943-4,028 with a possible profit taking. Several stocks to watch: BMRI, INDF, and ADRO.
Technically, the JCI may move within the range of 3,930-4,012. Several stocks to monitor: BMRI, SMGR, UNTR, and CPIN.
Minna Padi Investama:
The rise of stocks with large market capitalization is estimated to drive the JCI surpassing 4,000 today. Several stocks to watch: PNLF, ADRO, and BBCA.
Disclosure: No position at the stock mentioned above.
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