The JCI October 27, 2022

𝐎𝐜𝐭𝐨𝐛𝐞𝐫 𝟐𝟕, 𝟐𝟎𝟐𝟐

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟔,𝟗𝟖𝟓𝐩𝐭 – 𝟕,𝟏𝟐𝟎𝐩𝐭 (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞:  𝟕,𝟎𝟒𝟒𝐩𝐭)

* 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐛𝐫𝐨𝐚𝐝𝐞𝐫 𝐢𝐧𝐝𝐢𝐜𝐞𝐬 𝐒&𝐏𝟓𝟎𝟎 𝐚𝐧𝐝 𝐭𝐡𝐞 𝐍𝐚𝐬𝐝𝐚𝐪 𝐂𝐨𝐦𝐩𝐨𝐬𝐢𝐭𝐞 𝐜𝐥𝐨𝐬𝐞𝐝 𝐥𝐨𝐰𝐞𝐫 𝐛𝐲 𝐬𝐨𝐦𝐞 𝟏%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐨𝐧 𝐜𝐨𝐧𝐭𝐢𝐧𝐮𝐞𝐝 𝐰𝐨𝐫𝐫𝐲 𝐭𝐡𝐚𝐭 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐞𝐜𝐨𝐧𝐨𝐦𝐲 𝐦𝐢𝐠𝐡𝐭 𝐟𝐚𝐥𝐥 𝐢𝐧𝐭𝐨 𝐚 𝐝𝐞𝐞𝐩 𝐫𝐞𝐜𝐞𝐬𝐬𝐢𝐨𝐧𝐬

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

Morning,

 The Jakarta Composite Index (JCI) today (10/27) is expected to trade between 6,985pt – 7,120pt to attempt higher with the support of bargain hunters.   

Meanwhile, yesterday  (10/26) Wall Street ended with the DJIA closed higher by 2 points or 0.0% to 31,839pt, while the S&P500 and the Nasdaq closed lower by 0.7% and 2.0%, respectively.

Data on new home sales in the US for September pointed to a 10.9% decline from the prior month to a seasonally adjusted annualized rate of 603k units, better than the consensus estimate of a 13.4% decline. This triggered caution in traders for the super Hawkish stance of the US central bank.

The 10-year US Treasury yield, meanwhile, fell by 10 basis points at 4.011% yesterday, and the yield on the policy-sensitive 2-year Treasury fell by 4 basis points to 4.424%.

Yesterday, the price of  WTI crude closed higher by 3.0%, at USD87.9 a barrel, mainly boosted by the latest US crude export data, at 5.1mn barrels/day, a historic high level. Meanwhile, the USDIDR  closed at  IDR15,596 vs. IDR15,616 the previous one.

Cheers,