The JCI May 17, 2024

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𝐌𝐚𝐲 𝟏𝟕, 𝟐𝟎𝟐𝟒

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• 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟕,𝟏𝟗𝟎 – 𝟕,𝟑𝟎𝟎 𝐩𝐨𝐢𝐧𝐭𝐬 ( 𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟕,𝟐𝟒𝟕 𝐩𝐨𝐢𝐧𝐭𝐬)

• 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐞𝐱𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐥𝐨𝐰𝐞𝐫 𝐛𝐲 𝐚𝐫𝐨𝐮𝐧𝐝 𝟎.𝟐%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐨𝐧 𝐜𝐨𝐧𝐬𝐨𝐥𝐢𝐝𝐚𝐭𝐢𝐨𝐧 𝐫𝐞𝐭𝐫𝐞𝐚𝐭 𝐟𝐨𝐥𝐥𝐨𝐰𝐢𝐧𝐠 𝐚 𝐛𝐞𝐭𝐭𝐞𝐫-𝐭𝐡𝐚𝐧-𝐚𝐧𝐭𝐢𝐜𝐢𝐩𝐚𝐭𝐞𝐝 𝐀𝐩𝐫𝐢𝐥 𝐢𝐧𝐟𝐥𝐚𝐭𝐢𝐨𝐧 𝐫𝐚𝐭𝐞 𝐢𝐧 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐭𝐡𝐚𝐭 𝐩𝐫𝐨𝐩𝐞𝐥𝐥𝐞𝐝 𝐭𝐡𝐞 𝐃𝐉𝐈𝐀 𝐭𝐨 𝐢𝐭𝐬 𝐫𝐞𝐜𝐨𝐫𝐝-𝐢𝐧𝐭𝐫𝐚-𝐝𝐚𝐲-𝐡𝐢𝐠𝐡 𝐲𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐚𝐭 𝟒𝟎,𝟎𝟓𝟏 𝐩𝐨𝐢𝐧𝐭𝐬

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

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Morning,

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The Jakarta Composite Index (JCI) today (5/17)  is expected to trade in the range of  7,190 – 7,300 points to attempt higher with the support of bargain hunters.

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Meanwhile, yesterday  (5/16) on Wall Street, the DJIA closed lower by 39 points or 0.1%  to  39,869 points. The S&P500 and the Nasdaq Composite closed lower by 0.21% and 0.26%, respectively.

The yield of the 10-year  US  Treasury rose 4 basis points to 4.381%. The 2-year Treasury yield was higher by 7 basis points to 4.797%.

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Yesterday, the US West Texas Intermediate futures for June settlement, closed higher by 0.76%  at USD79.23/barrel mainly demand prospect underpinned by the renewed hope on policy rate cuts after the release of April’s softer inflation rate in the US.  Meanwhile, the USDIDR closed at IDR15,944 vs. IDR16,070 previously.

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Cheers,