The JCI January 4, 2024

𝐋𝐀𝐓𝐄 𝐏𝐎𝐒𝐓

𝐉𝐚𝐧𝐮𝐚𝐫𝐲 𝟒, 𝟐𝟎𝟐𝟑

• 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟕,𝟐𝟎𝟎 – 𝟕,𝟑𝟒𝟎 𝐩𝐨𝐢𝐧𝐭𝐬 (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟕,𝟐𝟕𝟗 𝐩𝐨𝐢𝐧𝐭𝐬)

• 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐞𝐱𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐥𝐨𝐰𝐞𝐫 𝐛𝐲 𝐚𝐫𝐨𝐮𝐧𝐝 𝟏%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐨𝐧 𝐭𝐡𝐞 𝐥𝐚𝐭𝐞𝐬𝐭 𝐝𝐚𝐭𝐚 𝐨𝐟 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐥𝐚𝐛𝐨𝐫 𝐦𝐚𝐫𝐤𝐞𝐭 𝐭𝐡𝐚𝐭 𝐩𝐫𝐨𝐦𝐩𝐭𝐞𝐝 𝐡𝐞𝐚𝐯𝐲 𝐩𝐫𝐨𝐟𝐢𝐭-𝐭𝐚𝐤𝐢𝐧𝐠𝐬

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

Morning,

The Jakarta Composite Index (JCI) today (1/4) is expected to trade in the range of  7,240 – 7,340 points to attempt higher with the support of bargain hunters.

Meanwhile, yesterday  (1/3) on Wall Street, the DJIA closed lower by 285 points or 0.76% to 37,430 points, while the S&P500 and the Nasdaq Composite closed lower by 0.8% and 1.2%, respectively.

The US November’s JOLTS report came about in line with expectations at 8.79 million employment listings.  December’s ISM Manufacturing report, also released on Wednesday, registered a 47.4 reading, higher than both consensus estimates and the previous month’s level.

The yield of the 10-year  US  Treasury note was lower by 3  basis points to 3.911%, while the yield on the 2-year Treasury bond was higher by 8 basis points to 4.33%.

Yesterday, the WTI futures contract closed higher by 3.29% at USD72.7/barrel, also by support of a united pledge of OPEC+member in November to cut 2.2mn bpd into the 1Q24. Meanwhile, the USDIDR closed at IDR15,495 vs. IDR15,473 the previous one.

Cheers,