The JCI January 26, 2024

𝐉𝐚𝐧𝐮𝐚𝐫𝐲 𝟐𝟔, 𝟐𝟎𝟐𝟒

• 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞:𝟕,𝟏𝟐𝟎 – 𝟕,𝟐𝟔𝟎 𝐩𝐨𝐢𝐧𝐭𝐬 (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟕,𝟏𝟕𝟖 𝐩𝐨𝐢𝐧𝐭𝐬)

• 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐞𝐱𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐡𝐢𝐠𝐡𝐞𝐫 𝐛𝐲 𝐚𝐫𝐨𝐮𝐧𝐝 𝟎.𝟓%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐬𝐩𝐮𝐫𝐫𝐞𝐝 𝐛𝐲 𝐡𝐢𝐠𝐡𝐞𝐫 𝐭𝐡𝐚𝐧 𝐞𝐱𝐩𝐞𝐜𝐭𝐞𝐝 𝐝𝐚𝐭𝐚 𝐨𝐟 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐆𝐃𝐏 𝐠𝐫𝐨𝐰𝐭𝐡 𝐟𝐨𝐫 𝐭𝐡𝐞 𝟒𝐐𝟐𝟑

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

Morning,

The Jakarta Composite Index (JCI) today (1/26) is expected to trade in the range of  7,120 – 7,260 points to attempt higher with the support of bargain hunters.

Meanwhile, yesterday  (1/25) on Wall Street, the DJIA closed higher by 243 points or 0.64% to 38,049 points, while the S&P500 and the Nasdaq Composite closed higher by 0.53% and 0.18%, respectively.

GDP, a measure of all the goods and services produced, increased at a 3.3% annualized rate in the fourth quarter of 2023, higher than the widely estimated 2% gain. For all of 2023, the US GDP figure accelerated at a 2.5% annualized pace (2022: 1.9% YoY).

Yesterday, the yield of the 10-year  US  Treasury note dropped by 4 basis points to  4.13%, while the yield on the 2-year Treasury bond was lower by 7 basis points at 4.314%.

Yesterday, the WTI futures contract for March closed higher by 3.02% to USD77.36/barrel, mainly on demand prospect along with the release of higher than expected US economic growth in the 4Q23. Meanwhile, the USDIDR closed at IDR15,767 vs. IDR15,719 the previous one.

Cheers,