The JCI September 13, 2022

𝐒𝐞𝐩𝐭𝐞𝐦𝐛𝐞𝐫 𝟏𝟑, 𝟐𝟎𝟐𝟐

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟕,𝟐𝟏𝟎𝐩𝐭 – 𝟕,𝟑𝟏𝟎𝐩𝐭 (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟕,𝟐𝟓𝟓𝐩𝐭)

* 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐢𝐜𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐡𝐢𝐠𝐡𝐞𝐫 𝐛𝐲 𝐬𝐨𝐦𝐞 𝟏%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐚𝐬 𝐭𝐫𝐚𝐝𝐞𝐫𝐬 𝐞𝐱𝐩𝐞𝐜𝐭 𝐚 𝐰𝐢𝐝𝐞𝐥𝐲-𝐞𝐬𝐭𝐢𝐦𝐚𝐭𝐞𝐝 𝐀𝐮𝐠𝐮𝐬𝐭’𝐬 𝐦𝐨𝐧𝐭𝐡𝐥𝐲  𝐝𝐞𝐟𝐥𝐚𝐭𝐢𝐨𝐧 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐡𝐞𝐚𝐝𝐥𝐢𝐧𝐞 𝐂𝐏𝐈 𝐜𝐨𝐦𝐞𝐬 𝐭𝐨 𝐦𝐚𝐭𝐞𝐫𝐢𝐚𝐥𝐢𝐳𝐞𝐬, 𝐝𝐚𝐭𝐚 𝐭𝐨 𝐛𝐞 𝐫𝐞𝐥𝐞𝐚𝐬𝐞𝐝 𝐭𝐨𝐝𝐚𝐲

* 𝐓𝐡𝐞 𝐉𝐂𝐈  𝐢𝐬 𝐞𝐱𝐩𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐟𝐥𝐮𝐜𝐭𝐮𝐚𝐭𝐞 𝐚𝐧𝐝 𝐬𝐮𝐩𝐩𝐨𝐫𝐭𝐞𝐝 𝐛𝐲 𝐬𝐭𝐚𝐛𝐥𝐞 𝐔𝐒𝐃𝐈𝐃𝐑 𝐚𝐧𝐝 𝐨𝐢𝐥-𝐜𝐥𝐨𝐬𝐞

Morning,

The Jakarta Composite Index (JCI) today (9/13) is expected to trade between 7,210pt –7,310pt  to attempt higher and is supported by bargain hunters. Upside to the JCI, today is expected to be restrained by planned labor protests in the capital city Jakarta.

Meanwhile, yesterday (9/12) Wall Street ended with the DJIA closed higher by 230 points or 0.7% to 32,381pt, while the S&P500 and the Nasdaq closed higher by 1.1% and 1.3%, respectively.

Wall Street is expected to respond to the US’s August inflation data with economists surveyed by Dow Jones expecting the headline Consumer Price Index (CPI)  to decline by 0.1%, and to rise by 0.3% excluding energy and fuel.

On the other end, the yield on the benchmark 10-year Treasury note rose 3 basis points to 3.35% yesterday, and the 2-year Treasury yield traded almost unchanged at 3.56%, continuing to be in a  yield-spread inversion trend.

Yesterday, the WTI price was higher by 1.1%  at USD87.8/barrel, mainly on supply fear and also as the embargo on Russian oil shipments effective December 5 is nearing. Meanwhile, the USDIDR closed at  IDR14,839 vs. IDR14,846 the previous one.

Cheers,