The JCI July 27, 2022

𝐉𝐮𝐥𝐲 𝟐𝟕, 𝟐𝟎𝟐𝟐

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟔,𝟖𝟐𝟎𝐩𝐭 – 𝟔,𝟗𝟏𝟎𝐩𝐭 (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟔,𝟖𝟕𝟐𝐩𝐭)

* 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐢𝐜𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐥𝐨𝐰𝐞𝐫 𝐛𝐲 𝐬𝐨𝐦𝐞 𝟏% , 𝐚𝐥𝐬𝐨 𝐝𝐫𝐚𝐠𝐠𝐞𝐝 𝐛𝐲 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒)-𝐛𝐚𝐬𝐞𝐝 𝐫𝐞𝐭𝐚𝐢𝐥𝐞𝐫 𝐖𝐚𝐥𝐦𝐚𝐫𝐭 𝐚𝐟𝐭𝐞𝐫 𝐭𝐡𝐞 𝐜𝐨𝐦𝐩𝐚𝐧𝐲 𝐜𝐮𝐭 𝐢𝐭𝐬 𝐩𝐫𝐨𝐟𝐢𝐭 𝐞𝐱𝐩𝐞𝐜𝐭𝐚𝐭𝐢𝐨𝐧𝐬 𝐭𝐡𝐢𝐬 𝐲𝐞𝐚𝐫

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

Morning,

 The Jakarta Composite Index (JCI) today (7/27) is expected to trade between 6,820pt – 6,910pt  to hold ground and supported by bargain hunters.

Yesterday (7/26), Wall Street ended with the DJIA closed lower by 229 points or 0.7% to 31,762pt, while the S&P500 and the Nasdaq  closed lower by 1.2% and 1.9%, respectively. The US-based Walmart stated that earnings this year to drop by 12% , or higher than the previous estimate of a 1% drop.

Meanwhile, the yield of the US 10-year Treasury note fell  by 2bp to close at 2.8%. The inversion between the 2-year and 10-year notes remained yesterday, with the yield of the 2-year US Treasury notes was up 3 bp at 3.06%.  At the other end,  Case-Shiller Home Price Index showed home prices in May increased by 19.7% YoY , seemed to cool from the April’s of 20.6% YoY in April.

Yesterday,  the WTI price closed lower by 2.0% to  USD94.8/barrel, mainly on the risk of inflation and thus demand weakness.  In the while of the US Federal Reserve’s two-day policy meeting, concluding on today and economists have broadly expecting a 75 bp hike to interest rates. Meanwhile, the USDIDR closed  at IDR14,984  vs. IDR14,992 the previous one.

Cheers,