๐๐๐ซ๐๐ก ๐, ๐๐๐๐
Morning,
The Jakarta Composite Index (JCI) today (3/5) is expected to trade in the range of ย 7,200 – 7,360 points to attempt higher with the support of bargain hunters.
Meanwhile, yesterdayย (3/4) on Wall Street, the DJIA closed lower by 98 points or 0.23% ย to ย 38,990 ย points. The S&P500 and the Nasdaq Composite closed lower by 0.12% and 0.41%, respectively.
The USย stock markets are also awaiting the event of Fed Chairman Jerome Powell to provide testimony about monetary policy to the House of Representatives on Wednesday (3/6) and to the Senate on Thursday(3/7).
Also, the yield of the 10-yearย USย Treasury rose by 3 basis points at 4.219%. Theย 2-year Treasuryย yield increased by 7 ย basis points at 4.61%.
Yesterday (3/4), ย the WTI futures contract for April lost ย 1.54% at USD78.74/barrel, mainly on the official announcement on Sunday (3/3) of an extension on additional voluntary cuts of 2.2mn barrels per day of several OPEC+ countries, aimed at supporting the stability and balance of oil markets. ย ย Meanwhile, the USDIDR closed at IDR15,723 vs. IDR15,696 the previous one.
Cheers,