The JCI October 5, 2023

𝐎𝐜𝐭𝐨𝐛𝐞𝐫 𝟓, 𝟐𝟎𝟐𝟑

• 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞:𝟔,𝟖𝟒𝟎𝐩𝐭 – 𝟔,𝟗𝟕𝟎𝐩𝐭 (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟔,𝟖𝟖𝟕𝐩𝐭)

• 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐞𝐱𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐡𝐢𝐠𝐡𝐞𝐫 𝐛𝐲 𝐚𝐫𝐨𝐮𝐧𝐝 𝟎.𝟖%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐭𝐫𝐢𝐠𝐠𝐞𝐫𝐞𝐝 𝐛𝐲 𝐭𝐡𝐞 𝐥𝐚𝐭𝐞𝐬𝐭 𝐝𝐚𝐭𝐚 𝐨𝐟 𝐩𝐫𝐢𝐯𝐚𝐭𝐞 𝐣𝐨𝐛 𝐠𝐫𝐨𝐰𝐭𝐡 𝐢𝐧 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒)

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

Morning,

The Jakarta Composite Index (JCI) today (10/5) is expected to trade between 6,840pt to 6,970pt to attempt higher and be supported by bargain hunters.

Meanwhile, yesterday (10/4) on Wall Street, the DJIA closed higher by 127 points or 0.4% to 33,002pt, while the S&P500 and the Nasdaq Composite closed higher by 0.8% and 1.4%, respectively.   The US payroll processing firm ADP said that private job growth totaled 89,000 for September, or well below the 160,000 estimate from Dow Jones. This gave investors the idea of a loosening US labor market and liquidity.

The 10-year US Treasury yield dropped by 6 basis points to 4.734%, its highest level since 2007.   Similarly, the 2-year Treasury fell by 9 basis points to 5.054%.

Yesterday, the price of the WTI  futures fell by 5.6% to USD84.2/barrel, mainly on the latest data of the US gasoline inventory, at +6.5mn barrels or higher than the consensus estimate of +0.2mn barrels. Meanwhile, the USDIDR closed at IDR15,636 vs. IDR15,600 the previous one.

Cheers,