The JCI March 25, 2024

𝐌𝐚𝐫𝐜𝐡 𝟐𝟓, 𝟐𝟎𝟐𝟒

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟕,𝟐𝟖𝟎 – 𝟕,𝟒𝟐𝟎 𝐩𝐨𝐢𝐧𝐭𝐬 (𝐅𝐫𝐢𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟕,𝟑𝟓𝟎 𝐩𝐨𝐢𝐧𝐭𝐬)

* 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐞𝐱𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐥𝐨𝐰𝐞𝐫 𝐛𝐲 𝐚𝐫𝐨𝐮𝐧𝐝 𝟎.𝟓%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐨𝐧 𝐭𝐞𝐜𝐡𝐧𝐢𝐜𝐚𝐥 𝐫𝐞𝐭𝐫𝐞𝐚𝐭 𝐟𝐨𝐥𝐥𝐨𝐰𝐢𝐧𝐠 𝐭𝐡𝐞 𝐛𝐞𝐬𝐭 𝐰𝐞𝐞𝐤𝐥𝐲 𝐩𝐞𝐫𝐟𝐨𝐫𝐦𝐚𝐧𝐜𝐞 𝐬𝐩𝐮𝐫𝐫𝐞𝐝 𝐛𝐲 𝐭𝐡𝐞 𝐥𝐚𝐭𝐞𝐬𝐭 𝐝𝐞𝐜𝐢𝐬𝐢𝐨𝐧 𝐨𝐧 𝐭𝐡𝐞 𝐩𝐚𝐭𝐡 𝐨𝐟 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐦𝐨𝐧𝐞𝐭𝐚𝐫𝐲 𝐩𝐨𝐥𝐢𝐜𝐲 𝐛𝐲 𝐭𝐡𝐞 𝐜𝐨𝐮𝐧𝐭𝐫𝐲’𝐬 𝐜𝐞𝐧𝐭𝐫𝐚𝐥 𝐛𝐚𝐧𝐤

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

Morning,

The Jakarta Composite Index (JCI) today (3/25)  is expected to trade in the range of  7,280 – 7,420 points to attempt higher with the support of bargain hunters.

Meanwhile, Friday last week (3/22) on Wall Street, the DJIA closed lower by 306 points or 0.77%  to  39,476  points. The S&P500 and the Nasdaq Composite closed lower by 0.14% and higher by 0.2%, respectively.

The US central bank the Federal Reserve held steady on interest rates at the conclusion of its March meeting Wednesday last week (3/20), and it’s sticking with its forecast for three interest rate cuts.

Friday, the yield of the 10-year  US  Treasury was down by more than 6 basis points to 4.206%. The 2-year Treasury yield was last lower by 3 basis points at 4.596%.

Last week, the US West Texas Intermediate futures for May settlement, closed lower by 0.6%  at USD80.6/barrel, also on the  prospect of better supply along with the news of possible ceasefire on the Israel and Hamas war.   Meanwhile, the USDIDR closed at IDR15,773 vs. IDR15,662.

Cheers,