The markets leaped on Tuesday, with the Nasdaq closing above 3000 for the first time in more than a decade, after JPMorgan's unexpected dividend hike and stock buyback added to enthusiasm over an upbeat economic assessment from the Fed.
The Dow Jones Industrial Average, as quoted by foxbusiness.com, jumped 218 points, or 1.7%, to 13178, the S&P 500 rose 25 points, or 1.8%, to 1396 and the Nasdaq Composite gained 56.2 points, or 1.9%, to 3040.
The Dow has risen for five-straight sessions, pushing the blue-chip index to its highest level since 2007. The broader S&P 500 is now trading at its highest levels in close to four years. Conversely, volatility has plummeted to the lowest level since June 2007, as tracked by the CBOE's VIX, data compiled by FOX Business show.
The JCI today may further gain today and move within the range of 3,935-4,030.
The JCI today is estimated to be mixed with potential to drop within the range of 3,987-4,020. Several stocks to pick: INTP, SMGR, MAIN, MDLN, and CLPI.
Minna Padi Investama:
The JCI today may move sideways within the range of 3,992-4.040. Be ware of profit taking on several blue chip stocks that have rallied. ASII, SMGR, and JSMR could be watched.
Disclosure: No position at the stock mentioned above.
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