The JCI October 3, 2022

𝐎𝐜𝐭𝐨𝐛𝐞𝐫 𝟑, 𝟐𝟎𝟐𝟐

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟔,𝟗𝟑𝟎𝐩𝐭 – 𝟕,𝟏𝟎𝟎𝐩𝐭 (𝐅𝐫𝐢𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟕,𝟎𝟒𝟏𝐩𝐭)

* 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐢𝐜𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐥𝐨𝐰𝐞𝐫 𝐛𝐲 𝐚𝐥𝐦𝐨𝐬𝐭 𝟐%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐨𝐧 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐏𝐞𝐫𝐬𝐨𝐧𝐚𝐥 𝐂𝐨𝐧𝐬𝐮𝐦𝐩𝐭𝐢𝐨𝐧 𝐄𝐱𝐩𝐞𝐧𝐝𝐢𝐭𝐮𝐫𝐞 𝐢𝐧𝐝𝐞𝐱 𝐝𝐚𝐭𝐚 𝐟𝐨𝐫 𝐀𝐮𝐠𝐮𝐬𝐭  𝐰𝐚𝐬 𝐬𝐭𝐫𝐨𝐧𝐠𝐞𝐫 𝐭𝐡𝐚𝐧 𝐞𝐱𝐩𝐞𝐜𝐭𝐞𝐝

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

Morning,

 The Jakarta Composite Index (JCI) today (10/1) is expected to trade between 6,930pt –7,100pt. The JCI is expected to be volatile and holds ground while also to respond on the country’s inflation data for September.

Meanwhile, Friday last week (9/30) Wall Street ended with the DJIA closed lower by 500 points or 1.7% to 28,726pt, while the S&P500 and the Nasdaq both closed lower by 1.5%.

The personal consumption expenditures price index excluding food and energy rose 0.6% for the month of August after being flat in July, faster than the 0.5% Dow Jones estimate.  On a year-over-year basis, core PCE increased 4.9%, more than the 4.7% estimate and up from 4.7% the previous month.

On the other end, the yield on the benchmark 10-year Treasury note rose to 3.814% last week. The 2-year Treasury increased to 4.264% while continuing to be in the yield-inversion trend to its 10-year counterpart.

Friday, the price of  WTI futures declined 51 cents to trade at $80.72 per barrel, mainly supported by the prospect of an output cut, to be decided in the next OPEC+members meeting on October 5. Meanwhile, the USDIDR  closed at  IDR15,232 vs. IDR15,247 the previous one.

Cheers,