The JCI May 10, 2023

𝐌𝐚𝐲 𝟏𝟎, 𝟐𝟎𝟐𝟑

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟔,𝟕𝟑𝟎𝐩𝐭 – 𝟔,𝟖𝟔𝟎𝐩𝐭  (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟔,𝟕𝟖𝟎𝐩𝐭)

* 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐞𝐱𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐥𝐨𝐰𝐞𝐫 𝐛𝐲 𝐚𝐫𝐨𝐮𝐧𝐝 𝟎.𝟒% 𝐰𝐡𝐢𝐥𝐞 𝐦𝐨𝐬𝐭 𝐭𝐫𝐚𝐝𝐞𝐫𝐬 𝐚𝐫𝐞 𝐢𝐧 𝐜𝐚𝐮𝐭𝐢𝐨𝐮𝐬 𝐦𝐨𝐧𝐢𝐭𝐨𝐫 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐮𝐩𝐜𝐨𝐦𝐢𝐧𝐠 𝐫𝐞𝐥𝐞𝐚𝐬𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐥𝐚𝐭𝐞𝐬𝐭 𝐂𝐏𝐈 𝐜𝐡𝐚𝐧𝐠𝐞

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

Morning,

The Jakarta Composite Index (JCI) today (5/10) is expected to trade between 6,730pt–6,860pt to attempt higher and be supported by bargain hunters.

Yesterday (5/8) on Wall Street, the DJIA closed lower by 57 points or 0.2% to 33,562pt, while the S&P500 and the Nasdaq closed lower by 0.5% and 0.6%, respectively.

Investors are bracing for US April’s consumer price index due out on  Wednesday (5/10). Analysts polled by Dow Jones are calling for a 0.4% month-over-month increase in inflation (March:0.3%)  and a 5% rise from a year ago (March:5.1%).

Meanwhile, the 10-year US Treasury closed higher by 3 basis points at 3.528%. The yield on the 2-year Treasury climbed 3 basis points at 4.039%.

Yesterday, the price of WTI closed higher by 0.5% to USD73.5/ barrel supported by supply concerns while wildfires in Alberta province prompted oil producers to shut in at least 280k barrels of oil equivalent per day, more than 3% of Canada’s output.  Meanwhile, the USDIDR closed at IDR14,757 vs. IDR14,709  the previous one.

Cheers,