The JCI October 14,2022

𝐎𝐜𝐭𝐨𝐛𝐞𝐫 𝟏𝟒, 𝟐𝟎𝟐𝟐

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟔,𝟖𝟓𝟎𝐩𝐭 – 𝟕,𝟎𝟎𝟎𝐩𝐭  (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟔,𝟖𝟖𝟏𝐩𝐭)

* 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐢𝐜𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐡𝐢𝐠𝐡𝐞𝐫 𝐛𝐲 𝐚𝐥𝐦𝐨𝐬𝐭 𝟑%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐨𝐧 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐒𝐞𝐩𝐭𝐞𝐦𝐛𝐞𝐫’𝐬 𝐢𝐧𝐟𝐥𝐚𝐭𝐢𝐨𝐧 𝐝𝐚𝐭𝐚 𝐰𝐡𝐢𝐜𝐡 𝐢𝐬 𝐥𝐨𝐰𝐞𝐫 𝐚𝐬 𝐜𝐨𝐦𝐩𝐚𝐫𝐞𝐝 𝐭𝐨 𝐀𝐮𝐠𝐮𝐬𝐭

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

Morning,

The Jakarta Composite Index (JCI) today (10/14) is expected to trade between 6,850pt – 7,000pt to attempt higher with the support of bargain hunters.   The JCI is expected to join the regional- rally mode, while Japan’s Nikkei 225 rose by 2.7% within opening time. 

Meanwhile, yesterday (10/13) Wall Street ended with the DJIA closed higher by 828 points or 2.8% to 30,039pt, while the S&P500 and the Nasdaq closed higher by 2.6% and 2.2%, respectively.

The US’s headline inflation rate for September came in at 8.2% YoY, slightly higher than the consensus estimate of 8.1% YoY, but continued to set a lower dot since the year’s high in June. The US’s CPI figure seems to be well-responded, also against the higher-than-expected PPI’s number that was released the previous day.

The yield on the benchmark 10-year Treasury note rose by 9 basis points, trading at 3.958% yesterday. The yield on the 2-year Treasury, jumped by 19 basis points to 4.476%.

Yesterday, the price of  WTI futures closed higher by 2.7% to close at USD89.2/ barrel, mainly on a lower-than-predicted drawdown of the US’s distillate inventory of 4.9mn barrels/week vs. a drop of 2mn barrels in the week ended October 7.  Meanwhile, the USDIDR  closed at  IDR15,357 vs. IDR15,373 the previous one.

 Cheers,