The markets shed early losses and jumped into positive territory after the Federal Reserve said it would hold interest rates at exceptionally low levels until 2014.
The Dow Jones Industrial Average, as quoted by foxbusiness.com, rose 83.1 points, or 0.66%, to 12759, the S&P 500 gained 11.4 points, or 0.87%, to 1326 and the Nasdaq Composite rose 31.7 points, or 1.1%, to 2818.
The Federal Reserve said on Wednesday it plans on holding interest rates at exceptionally low levels until late 2014 to support a stronger economic recovery. The central bank also said it expects employment to improve only gradually. The economic community had differing view points on what exactly this moves indicates.
Today, Jakarta Composite Index (JCI) may face further corrections and move within the range of 3,935-3,997. Several stocks to watch: INTP, ROTI, and MYOR. Yesterday, the JCI fell 30.98 points to 3,963.60.
Minna Padi Investama:
The JCI may swing within the range of 3,939-4,038. The lack of positive news in the market tends to consolidate the index. Several stocks to monitor: PNLF, ADRO, and PTBA.
Technically, the index today may lower to the range of 3,928-4,005. The development of debt restructuring in Yunani and financial statement result of the US and European companies can provide sentiments to the index. Some stocks could be watched for day trading such as ADH, SIMP, ADRO, and MYOR.
The JCI may swing today as debt crisis in Euro zone still shadows the market. The support-resistance level is at 3,952-3,995.
Disclosure: No position at the stock mentioned above.