The JCI May 2, 2023

𝐌𝐚𝐲 𝟐, 𝟐𝟎𝟐𝟑

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟔,𝟖𝟓𝟎𝐩𝐭 – 𝟕,𝟎𝟎𝟎𝐩𝐭  (𝐅𝐫𝐢𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟔,𝟗𝟏𝟔𝐩𝐭)

* 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐞𝐱𝐞𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐜𝐥𝐨𝐬𝐞𝐝 𝐦𝐚𝐫𝐠𝐢𝐧𝐚𝐥𝐥𝐲 𝐥𝐨𝐰𝐞𝐫  𝐨𝐧 𝐜𝐨𝐧𝐬𝐨𝐥𝐢𝐝𝐚𝐭𝐢𝐨𝐧 𝐬𝐭𝐚𝐧𝐜𝐞 𝐟𝐨𝐥𝐥𝐨𝐰𝐢𝐧𝐠 𝐭𝐡𝐞 𝐦𝐨𝐬𝐭 𝐫𝐞𝐜𝐞𝐧𝐭 𝐫𝐚𝐥𝐥𝐲

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐢𝐬 𝐞𝐱𝐩𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐠𝐚𝐢𝐧 𝐚𝐧 𝐞𝐝𝐠𝐞 𝐬𝐮𝐩𝐩𝐨𝐫𝐭𝐞𝐝 𝐛𝐲 𝐬𝐭𝐚𝐛𝐥𝐞 𝐔𝐒𝐃𝐈𝐃𝐑 𝐚𝐧𝐝 𝐨𝐢𝐥-𝐜𝐥𝐨𝐬𝐞

Morning,

The Jakarta Composite Index (JCI) today (5/2) is expected to trade between 6,850pt–7,000pt to attempt higher and be supported by bargain hunters.

The JCI is expected to respond to the country’s inflation data for April. Consensus calls for a higher monthly estimate of 0.47% (March: 0.18%) and an annual rate of 4.48% (March: 4.97%).

Yesterday (5/1) on Wall Street, the DJIA closed lower by 47 points or 0.1% to 34,052pt, while the S&P500 and the Nasdaq closed lower by 0.0% and 0.1%, respectively. Traders are in monitor as members of the US central bank’s Federal Open Market Committee will begin their policy meeting today. The announcement on interest rates and a subsequent press conference is expected tomorrow (5/3).

Meanwhile, the 10-year US Treasury was higher by 11 basis points to 3.559%.  The yield on the 2-year Treasury increased by 7 basis points at 4.135%.

Yesterday, the price of WTI closed lower by 1.5% to USD75.7/ barrel, along with the 0.29% daily rebound of the USD Index. Meanwhile, the USDIDR closed at IDR14,661 vs. IDR14,822  the previous one.

Cheers,