The JCI May 20, 2024

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𝐌𝐚𝐲 𝟐𝟎, 𝟐𝟎𝟐𝟒

• 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞:𝟕,𝟐𝟓𝟎 – 𝟕,𝟒𝟎𝟎 𝐩𝐨𝐢𝐧𝐭𝐬 (𝐅𝐫𝐢𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟕,𝟑𝟏𝟕 𝐩𝐨𝐢𝐧𝐭𝐬)

• 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐭𝐡𝐞 𝐃𝐉𝐈𝐀 𝐜𝐥𝐨𝐬𝐞𝐝 𝐚𝐛𝐨𝐯𝐞 𝐭𝐡𝐞 𝟒𝟎,𝟎𝟎𝟎 𝐩𝐨𝐢𝐧𝐭𝐬 𝐥𝐞𝐯𝐞𝐥 𝐭𝐡𝐞 𝐟𝐢𝐫𝐬𝐭 𝐭𝐢𝐦𝐞, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐨𝐧 𝐚 𝐜𝐨𝐧𝐭𝐢𝐧𝐮𝐞𝐝 𝐞𝐮𝐩𝐡𝐨𝐫𝐢𝐚 𝐨𝐯𝐞𝐫 𝐀𝐩𝐫𝐢𝐥’𝐬 𝐛𝐞𝐭𝐭𝐞𝐫-𝐭𝐡𝐚𝐧-𝐞𝐱𝐩𝐞𝐜𝐭𝐞𝐝 𝐢𝐧𝐟𝐥𝐚𝐭𝐢𝐨𝐧 𝐝𝐚𝐭𝐚 𝐨𝐟 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒)

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

Morning,

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The Jakarta Composite Index (JCI) today (5/20)  is expected to trade in the range of  7,25 – 7,400 points to attempt higher with the support of bargain hunters.

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Meanwhile, on Friday last week  (5/17) on Wall Street, the DJIA closed higher by 134 points or 0.34%  to  40,004 points. The S&P500 and the Nasdaq Composite closed higher by 0.12% and lower by 0.07%, respectively.

The yield of the 10-year  US  Treasury rose 4 basis points to 4.42%. The 2-year Treasury yield was higher by 3 basis points to 4.829%.

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Last week, the US West Texas Intermediate futures for June settlement, closed higher by 1.05%  at USD80.06/barrel mainly backed by demand prospects along with the latest economic data in China in addition to a higher chance of a rate cut in the US.  Meanwhile, the USDIDR closed at IDR15,978 vs. IDR15,944 previously.

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Cheers,