๐ ๐๐๐ซ๐ฎ๐๐ซ๐ฒ ๐, ๐๐๐๐
Morning,
The Jakarta Composite Index (JCI) today (2/6) is expected to trade in the range of ย 7,120 – 7,280 points to attempt higher with the support of bargain hunters.
Meanwhile, yesterday ย (2/5) on Wall Street, the DJIA closed lower by 274 points or 0.71% to 38,380 points, while the S&P500 and the Nasdaq Composite closed lower by 0.32% and 0.2%, respectively.
The US rate cut chances get pushed further back along with Januaryโs data on the index of service sector activity issued by the ISM, at +53.4% or higher than Decemberโs reading of 50.5%, and beating the consensus estimate of ย 52.0%.
The yield of the 10-year ย US ย Treasury note shot up by 15 basis points to ย 4.168%, while the yield on theย 2-year Treasury bond climbed 11 ย basis points at 4.37%.
Yesterday, the WTI futures contract for March gained 0.7% to USD72.78/barrel, mainly on supply concerns along with the ongoing conflict in the Middle East including on the Red Sea. ย Meanwhile, the USDIDR closed at IDR15,705 vs. IDR15,668 the previous one.
Cheers,