The JCI March 14, 2024

𝐌𝐚𝐫𝐜𝐡 𝟏𝟒, 𝟐𝟎𝟐𝟒

• 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟕,𝟑𝟒𝟎 -𝟕,𝟒𝟖𝟎 𝐩𝐨𝐢𝐧𝐭𝐬 ( 𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟕,𝟒𝟐𝟏 𝐩𝐨𝐢𝐧𝐭𝐬)

• 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐛𝐫𝐨𝐚𝐝𝐞𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐞𝐱𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐥𝐨𝐰𝐞𝐫 𝐛𝐲 𝐚𝐫𝐨𝐮𝐧𝐝 𝟎.𝟑%, 𝐚𝐬 𝐭𝐫𝐚𝐝𝐞𝐫𝐬 𝐚𝐫𝐞 𝐢𝐧 𝐦𝐨𝐧𝐢𝐭𝐨𝐫 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐅𝐞𝐛𝐫𝐮𝐚𝐫𝐲 𝐩𝐫𝐨𝐝𝐮𝐜𝐞𝐫 𝐩𝐫𝐢𝐜𝐞 𝐢𝐧𝐝𝐞𝐱 (𝐏𝐏𝐈) 𝐝𝐚𝐭𝐚 𝐫𝐞𝐥𝐞𝐚𝐬𝐞 𝐢𝐧 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒), 𝐬𝐜𝐡𝐞𝐝𝐮𝐥𝐞𝐝 𝐟𝐨𝐫 𝐭𝐨𝐝𝐚𝐲

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

Morning,

The Jakarta Composite Index (JCI) today (3/14) is expected to trade in the range of  7,340 – 7,480 points to attempt higher with the support of bargain hunters.

Meanwhile, yesterday (3/13) on Wall Street, the DJIA closed higher by 38 points or 0.1%  to  39,043 points. The S&P500 and the Nasdaq Composite closed lower by 0.12% and 0.54%, respectively.

Economists polled by Dow Jones anticipate that headline PPI grew by 0.3% in February, or 0.2% when excluding food and energy prices. The metric PPI is a measurement of wholesale inflation.

The PPI report is the last major piece of economic data to be released before the Federal Reserve’s upcoming policy meeting, set for March 19-20.

Yesterday, the yield of the 10-year  US  Treasury rose by 3 basis points at 4.178%. The 2-year Treasury yield gained 1  basis point to 4.61%.

Yesterday,  the WTI futures contract for April gained 2.78% at USD79.72/barrel, mainly on supply concerns along with the news that Ukrainian drones hit a Rosneft refinery close to Moscow. Ukraine has repeatedly struck Russian oil infrastructure since January in a campaign to hurt the country’s economy. Meanwhile, the USDIDR closed at IDR15,576 vs. IDR15,603.

Cheers,