The JCI August 15, 2022

𝐀𝐮𝐠𝐮𝐬𝐭 𝟏𝟓, 𝟐𝟎𝟐𝟐

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟕,𝟏𝟎𝟎𝐩𝐭 – 𝟕,𝟐𝟎𝟎𝐩𝐭  (𝐅𝐫𝐢𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞:  𝟕,𝟏𝟐𝟗𝐩𝐭)

* 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐢𝐜𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐡𝐢𝐠𝐡𝐞𝐫 𝐛𝐲 𝐬𝐨𝐦𝐞 𝟏.𝟓%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐨𝐧 𝐛𝐞𝐭𝐭𝐞𝐫-𝐭𝐡𝐚𝐧-𝐞𝐱𝐩𝐞𝐜𝐭𝐞𝐝 𝐞𝐚𝐫𝐧𝐢𝐧𝐠𝐬 𝐫𝐞𝐥𝐞𝐚𝐬𝐞 𝐟𝐨𝐫 𝐭𝐡𝐞 𝟐𝐐𝟐𝟐 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒)-𝐥𝐢𝐬𝐭𝐞𝐝 𝐜𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬

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

Morning,

The Jakarta Composite Index (JCI) today (8/15) is expected to trade between 7,100pt –7,200pt  to attempt higher and supported by bargain hunters.   

Meanwhile, Friday last week (8/12) Wall Street ended with the DJIA closed higher by 424 points or 1.3% to 33,761pt, while the S&P500 and the Nasdaq closed higher by 1.7% and 2.1%, respectively. Wall Street was also positive on the US July’s import and export data release which showed softer import growth, down by 1.4% vs. a decline of 1% estimate.

At the other end, the yield on the benchmark 10-year Treasury note fell by 5 basis points at 2.84%, and the 2-year Treasury yield increased slighlty to 3.25%, continuing to be in a spread-inversion trend.

Last week,  the WTI price closed lower by 2.2% to  USD92.3/barrel, mainly supported by supply disruption in the Gulf of Mexico platforms amid OPEC+ members’ official view for this year lower demand estimate revision.

Cheers,