The JCI April 12, 2023

𝐀𝐩𝐫𝐢𝐥 𝟏𝟐, 𝟐𝟎𝟐𝟑

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞:𝟔,𝟕𝟓𝟎𝐩𝐭 – 𝟔,𝟗𝟎𝟎𝐩𝐭  (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟔,𝟖𝟏𝟏𝐩𝐭)

* 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐭𝐡𝐞 𝐍𝐚𝐬𝐝𝐚𝐪 𝐂𝐨𝐦𝐩𝐨𝐬𝐢𝐭𝐞 𝐜𝐥𝐨𝐬𝐞𝐝 𝐥𝐨𝐰𝐞𝐫 𝐛𝐲 𝟎.𝟒%,  𝐦𝐨𝐫𝐞 𝐝𝐫𝐢𝐯𝐞𝐧 𝐛𝐲 𝐜𝐚𝐮𝐭𝐢𝐨𝐧 𝐨𝐧 𝐭𝐡𝐞 𝐫𝐢𝐬𝐤 𝐨𝐟 𝐫𝐞𝐜𝐞𝐬𝐬𝐢𝐨𝐧 𝐢𝐧 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐭𝐡𝐚𝐧 𝐛𝐲 𝐯𝐢𝐠𝐢𝐥𝐚𝐧𝐜𝐞 𝐨𝐟 𝐝𝐨𝐯𝐢𝐬𝐡 𝐩𝐫𝐨𝐬𝐩𝐞𝐜𝐭

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

Morning,

The Jakarta Composite Index (JCI) today (4/12) is expected to trade between 6,750pt–6,900pt to attempt higher and be supported by bargain hunters.

Yesterday (4/11) on Wall Street, the DJIA closed higher by 98 points or 0.3% to 33,685pt, while the S&P500 and the Nasdaq closed lower by 0.0% and lower by 0.4%, respectively.

Wall Street looked ahead to March’s consumer price index, slated to be released today,  a key data point that could affect the Federal Reserve’s rate decision come May. Economists polled by Dow Jones predict that CPI rose by 0.2% in March, compared to a 0.4% gain in February.

Meanwhile, the 10-year US Treasury yield gained by 1 basis point to 3.426%.  The yield on the 2-year Treasury rose by 2 basis points at 4.033%.

Yesterday, the price of WTI closed higher by 2.1% at USD81.5/ barrel, mainly supported by the risk of tighter supply stemming from output reduction by OPEC+, effective May.   Meanwhile, the USDIDR closed at  IDR14,888 vs. IDR14,905 the previous one.

Cheers,