The JCI March 15, 2024

𝐌𝐚𝐫𝐜𝐡 𝟏𝟓, 𝟐𝟎𝟐𝟒

• 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟕,𝟑𝟔𝟎 – 𝟕,𝟒𝟗𝟎 𝐩𝐨𝐢𝐧𝐭𝐬 (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟕,𝟒𝟑𝟑 𝐩𝐨𝐢𝐧𝐭𝐬)

• 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐞𝐱𝐞𝐬 𝐜𝐥𝐨𝐬𝐢𝐧𝐠 𝐥𝐨𝐰𝐞𝐫 𝐛𝐲 𝐚𝐫𝐨𝐮𝐧𝐝 𝟎.𝟑%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐨𝐧 𝐡𝐢𝐠𝐡𝐞𝐫 𝐝𝐨𝐮𝐛𝐭 𝐨𝐧 𝐭𝐡𝐞 𝐭𝐢𝐦𝐢𝐧𝐠 𝐨𝐟 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐜𝐞𝐧𝐭𝐫𝐚𝐥 𝐛𝐚𝐧𝐤 𝐭𝐨 𝐬𝐭𝐚𝐫𝐭 𝐥𝐨𝐰𝐞𝐫𝐢𝐧𝐠 𝐢𝐧𝐭𝐞𝐫𝐞𝐬𝐭 𝐫𝐚𝐭𝐞𝐬, 𝐭𝐡𝐞 𝐭𝐫𝐚𝐝𝐞𝐫𝐬’ 𝐩𝐫𝐞𝐟𝐞𝐫𝐫𝐞𝐝 𝐦𝐨𝐯𝐞

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

Morning,

The Jakarta Composite Index (JCI) today (3/15) is expected to trade in the range of  7,360 – 7,490 points to attempt higher with the support of bargain hunters.

Meanwhile, yesterday (3/14) on Wall Street, the DJIA closed lower by 138 points or 0.35%  to  38,906 points. The S&P500 and the Nasdaq Composite closed lower by 0.29% and 0.30%, respectively.

The US producer price index (PPI) rose 0.6% in February. Core PPI, which strips out food and energy, gained 0.3%. Economists polled by Dow Jones expected an increase of 0.3% for the headline number and a 0.2% advance for core PPI.  February’s PPI  marks the last major data release before the Fed’s meeting on March 19-20.

Yesterday, the yield of the 10-year  US  Treasury rose by 12 basis points at 4.298%. The 2-year Treasury yield was last 8  basis points higher at 4.69%.

Yesterday,  the WTI futures contract for April rose 0.9% at USD79.79/barrel, mainly supported by the supply side along with the latest release of US weekly crude stockpiles inventory, a drop by 1.5mn barrels vs. the consensus estimate of a rise of 1.3mn barrels.   Meanwhile, the USDIDR closed at IDR15,582 vs. IDR15,576.

Cheers,