After posting the best first quarter in more than a decade, the markets continued on their upward march as a strong reading on the U.S. manufacturing sector reinforced traders' bullish sentiment.
The Dow Jones Industrial Average, as quoted by Foxbusiness.com, climbed 52.5 points, or 0.4%, to 13264, the S&P 500 rose 10.4 points, or 0.74%, to 1419 and the Nasdaq Composite gained 28.1 points, or 0.91%, to 3120.
The global economy is expected to take the spotlight during the holiday-shortened trading week, with key reports on tap every day leading up to the monthly employment report from the Labor Department.
The Institute for Supply Management's closely-followed gauge of U.S. manufacturing activity rose to 53.4 in March from 52.4 in February, suggesting the sector is expanding at a quicker pace.
Meanwhile, U.S. construction spending slid 1.1% in February from the month prior, the biggest fall since July 2011. Economists expected an increase of 0.6%. How about Indonesia stock market today? Bisnis Indonesia provides recommendations:
Today, Jakarta Composite Index (JCI) may move within the range of 4,131-4,195 with tension of profit taking. Several stocks to watch: BHIT, HRUM, and ENRG.
The JCI may move within the overbought area. The next resistance target is at 4,195 and 4,123 as the support level. Investors are suggested to realize profit taking.
Despite the profit taking threat, the JCI may tend to close to 4,200. The index is estimated to move within the support-resistance of 4,126-4,189. Top picks: GGRM, JSMR, KIJA, PNBN, and BDMN.
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