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Morning,
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The Jakarta Composite Index (JCI) today (5/3) is expected to trade in the range of 7,060 โ 7,210 points to attempt higher with the support of bargain hunters.
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Meanwhile, yesterday (5/2) on Wall Street, the DJIA closed higher by 322 points or 0.85% to 38,227 points. The S&P500 and the Nasdaq Composite closed higher by 0.91% and 1.51%, respectively.
The unit labor costs in the US increased 4.7% in the January to March period, resulting from a 5% increase in hourly compensation offset by a 0.3% growth rate in productivity, the Labor Department reported Thursday. Economists surveyed by Dow Jones had been looking for a 4% increase in unit labor costs and 0.5% in productivity.
The yield of the 10-year US Treasury fell by 5 basis points to 4.583%. The 2-year Treasury yield was last lower by 5 basis points to 4.887%.
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Yesterday, the US West Texas Intermediate futures for June settlement, closed higher by 0.49% at USD79.4/barrel, mainly on supply concerns as the upcoming meeting of OPEC+, on June 1, comes near. Meanwhile, the USDIDR closed at IDR16,202 vs. IDR16,276.
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Cheers,