The JCI March 10, 2023

𝐌𝐚𝐫𝐜𝐡 𝟏𝟎, 𝟐𝟎𝟐𝟑

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟔,𝟕𝟎𝟎𝐩𝐭 – 𝟔,𝟖𝟓𝟎𝐩𝐭 (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟔,𝟕𝟖𝟎𝐩𝐭)

* 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐞𝐱𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐥𝐨𝐰𝐞𝐫 𝐛𝐲 𝐚𝐥𝐦𝐨𝐬𝐭 𝟐%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐨𝐧 𝐜𝐚𝐮𝐭𝐢𝐨𝐮𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐫𝐞𝐥𝐞𝐚𝐬𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐥𝐚𝐛𝐨𝐫 𝐝𝐚𝐭𝐚 𝐟𝐨𝐫 𝐅𝐞𝐛𝐫𝐮𝐚𝐫𝐲

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

Morning,

The Jakarta Composite Index (JCI) today (3/10) is expected to trade between 6,700pt–6,850pt to hold ground and be supported by bargain hunters.

Meanwhile, yesterday  (3/9) on Wall Street, the DJIA closed lower by 544 points or 1.7% to 32,255pt, while the S&P500 and the Nasdaq closed lower by 1.9% and  2.1%, respectively.

Wall Street is bracing for the US February jobs report with the nonfarm payrolls is expected to rise 225,000 in the month. Also, the unemployment rate is expected to remain unchanged from January — when it hit a low not seen since 1969 — at 3.4%.

Yesterday, the 10-year United States Treasury yield closed 7 basis points lower at 3.909%.  The yield on the policy-sensitive 2-year Treasury yield fell 19 basis points at 4.874%.

Yesterday, the price of WTI closed lower by 1.2% to USD75.7/ barrel, also mainly on caution of the US job data, set to be released  today.   Meanwhile, the USDIDR closed at  IDR15,438 vs. IDR15,451 the previous one.

Cheers,