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Morning,
The Jakarta Composite Index (JCI) today (11/20) is expected to trade in the range of 6,910 – 7,030 points to attempt higher with the support of bargain hunters.
Meanwhile, on Friday last week (11/17) on Wall Street, the DJIA closed higher by 2 points or 0.01% to 34,947 points, while the S&P500 and the Nasdaq Composite both closed higher by 0.1%.
Theย US privately owned housing starts came in at a seasonally adjusted annual rate of 1.372 million, higher than the 1.35 million estimated by Dow Jones. Building permits came in at 1.487 million, also above the 1.45 million estimate. These have been perceived by investors as a higher chance for a path of soft landing of policy rate moves by the Federal Reserve.
The yield of the 10-year ย US ย Treasury Note fell by 1 basis point to 4.44%, while the yield on theย 2-year Treasury bond rose 5 ย basis points to 4.9%.
Friday, the WTI futures closed higher by 3.0% at USD75.1/barrel, mainly on technical reverse after the previous 5% loss with risks of war-driven supply disruption in the background. Meanwhile, the USDIDR closed at IDR15,504 vs. IDR15,503ย the previous one.
Cheers,