The JCI July 13, 2023

𝐉u𝐥y 1𝟑, 2𝟎2𝟑

* T𝐡e J𝐂I t𝐫a𝐝i𝐧g r𝐚n𝐠e: 𝟔,𝟕5𝟎p𝐭 – 𝟔,𝟖8𝟎p𝐭 (Y𝐞s𝐭e𝐫d𝐚y c𝐥o𝐬e: 𝟔,𝟖0𝟖p𝐭)

* 𝐖a𝐥l S𝐭r𝐞e𝐭 𝐞n𝐝e𝐝 𝐰i𝐭h t𝐡e N𝐚s𝐝a𝐪 𝐂o𝐦p𝐨s𝐢t𝐞  c𝐥o𝐬e𝐝 𝐡i𝐠h𝐞r b𝐲 𝟏.𝟐% m𝐚i𝐧l𝐲 𝐨n a w𝐞l𝐜o𝐦e o𝐟 𝐥e𝐬s-h𝐚w𝐤i𝐬h s𝐭a𝐧c𝐞 𝐚l𝐨n𝐠 𝐰i𝐭h t𝐡e U𝐧i𝐭e𝐝 𝐒t𝐚t𝐞s (𝐔S)  J𝐮n𝐞 𝐢n𝐟l𝐚t𝐢o𝐧 𝐝a𝐭a r𝐞l𝐞a𝐬e y𝐞s𝐭e𝐫d𝐚y

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

Morning,

The Jakarta Composite Index (JCI) today (7/13) is expected to trade between 6,750pt–6,880pt to gain an edge in support of bargain hunters.

Meanwhile, yesterday (7/12) on Wall Street, the DJIA closed higher by 86 points or 0.3% to 34,347pt, while the S&P500 and the Nasdaq closed higher by 0.7% and 1.2%, respectively.  The US consumer price index for June came in at an increase of 0.2% (vs. estimate of 0.3%) and was up 3% from a year ago (vs. estimate of 3.1%), the lowest level since March 2021.

 The 10-year US Treasury yield was lower by 12 basis points at 3.857%.  The yield on the 2-year Treasury fell by 15 basis points at 4.742%.

Yesterday, the price of WTI  closed higher by 1.2% at USD75.8/ barrel, mainly on demand prospects as the latest US inflation data brings hopes the Federal Reserve may have fewer interest rate hikes in store for the world’s biggest economy. Meanwhile, the USDIDR closed at IDR15,084 vs. IDR15,162 the previous one.

Cheers,