The JCI October 5, 2022

𝐎𝐜𝐭𝐨𝐛𝐞𝐫 𝟓, 𝟐𝟎𝟐𝟐

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟕,𝟎𝟎𝟎𝐩𝐭 -𝟕,𝟏𝟔𝟎𝐩𝐭 (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟕,𝟎𝟕𝟐𝐩𝐭)

* 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐢𝐜𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐡𝐢𝐠𝐡𝐞𝐫 𝐛𝐲 𝐬𝐨𝐦𝐞 𝟑%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐨𝐧 𝐰𝐞𝐚𝐤𝐞𝐫-𝐭𝐡𝐚𝐧-𝐞𝐱𝐩𝐞𝐜𝐭𝐞𝐝 𝐣𝐨𝐛 𝐨𝐩𝐞𝐧𝐢𝐧𝐠𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐟𝐨𝐫 𝐀𝐮𝐠𝐮𝐬𝐭

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

Morning,

The Jakarta Composite Index (JCI) today (10/5) is expected to trade between 7,000pt –7,160pt to attempt higher with the support of bargain hunters.

Meanwhile, yesterday (10/4) Wall Street ended with the DJIA closed higher by 825 points or 2.8% to 30,316pt, while the S&P500 and the Nasdaq closed higher by 3.1% and 3.3%, respectively.

The US’s number of job openings plunged by more than a million in August, to totaling 10.05 million for the month, a 10% drop from the 11.17 million reported in July well below the 11.1 million FactSet estimate.

The data has added to the stock markets a slight idea that the US central bank might slow down its tightening this year, while still expecting the Fed to push forward with a fourth consecutive 0.75 percentage point interest rate hike at its next meeting.

On the other end, the yield on the benchmark 10-year Treasury note fell by 3basis points to 3.62% yesterday. The 2-year Treasury closed almost flat at 4.1% while continuing to be in the yield-inversion trend to its 10-year counterpart.

Yesterday, the price of  WTI futures rose by 3.3% to close at $86.4 per barrel, mainly on renewed concerns about supply tightness, as investors expect  OPEC+, will cut output by more than 1 million barrels per day at their first in-person meeting since 2020 today (10/5).  Meanwhile, the USDIDR  closed at  IDR15,276 vs. IDR15,293 the previous one.

Cheers,