The JCI October 6, 2022

𝐎𝐜𝐭𝐨𝐛𝐞𝐫 𝟔, 𝟐𝟎𝟐𝟐

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟕,𝟎𝟏𝟎𝐩𝐭 – 𝟕,𝟏𝟓𝟎𝐩𝐭 (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟕,𝟎𝟕𝟓𝐩𝐭)

* 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐢𝐜𝐞𝐬 𝐩𝐚𝐫𝐞𝐝 𝐥𝐨𝐬𝐬𝐞𝐬 𝐚𝐧𝐝 𝐜𝐥𝐨𝐬𝐞𝐝 𝐥𝐨𝐰𝐞𝐫 𝐛𝐲 𝐬𝐨𝐦𝐞 𝟎.𝟐%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐨𝐧 𝐚 𝐢𝐧𝐭𝐫𝐚𝐝𝐚𝐲 𝐫𝐞𝐛𝐨𝐮𝐧𝐝 𝐰𝐡𝐢𝐥𝐞 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒)  𝟏𝟎-𝐲𝐞𝐚𝐫  𝐬𝐭𝐚𝐭𝐞 𝐛𝐨𝐧𝐝𝐬 𝐚𝐥𝐬𝐨 𝐭𝐫𝐚𝐝𝐞𝐝 𝐥𝐨𝐰𝐞𝐫

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

Morning,

The Jakarta Composite Index (JCI) today (10/6) is expected to trade between 7,010pt –7,150pt to attempt higher with the support of bargain hunters.

Meanwhile, yesterday (10/5) Wall Street ended with the DJIA closed lower by 43 points or 0.1% to 30,274pt, while the S&P500 and the Nasdaq closed lower by 0.2% and 0.3%, respectively.

Data from ADP showed that the US labor market remained strong among private companies in September when businesses added 208k jobs vs.200k estimated.

On the other end, the yield on the benchmark 10-year Treasury note rose by 16 basis points to 3.78% yesterday. The 2-year Treasury climbed 7 basis points  4.17% while continuing to be in the yield-inversion trend to its 10-year counterpart.

Yesterday, the price of  WTI futures rose by 1.0% to close at $87.4 per barrel, mainly on fear of supply tightness, as OPEC+ finally decided on a meeting yesterday (10/5)  to cut output by 2 million barrels per day, effective November.  Meanwhile, the USDIDR  closed at  IDR15,196 vs. IDR15,276 the previous one.

Cheers,