The JCI May 12, 2023

𝐌𝐚𝐲 𝟏𝟐, 𝟐𝟎𝟐𝟑

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟔,𝟔𝟗𝟎𝐩𝐭 – 𝟔,𝟖𝟐𝟎𝐩𝐭 (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟔,𝟕𝟓𝟔𝐩𝐭)

* 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐭𝐡𝐞 𝐃𝐉𝐈𝐀  𝐜𝐥𝐨𝐬𝐞𝐝 𝐥𝐨𝐰𝐞𝐫 𝐛𝐲 𝟎.𝟕%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐭𝐫𝐢𝐠𝐠𝐞𝐫𝐞𝐝 𝐛𝐲 𝐬𝐞𝐧𝐭𝐢𝐦𝐞𝐧𝐭 𝐟𝐫𝐨𝐦  𝐡𝐢𝐠𝐡𝐞𝐫 𝐭𝐡𝐚𝐧 𝐞𝐱𝐩𝐞𝐜𝐭𝐞𝐝 𝐰𝐞𝐞𝐤𝐥𝐲 𝐝𝐚𝐭𝐚 𝐨𝐟 𝐭𝐡𝐞 𝐥𝐚𝐭𝐞𝐬𝐭 𝐣𝐨𝐛𝐥𝐞𝐬𝐬 𝐜𝐥𝐚𝐢𝐦𝐬 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 (5/12) is expected to trade between 6,690pt–6,820pt to attempt higher and be supported by bargain hunters.

Yesterday (5/11) on Wall Street, the DJIA closed lower by 222 points or 0.7% to 33,310pt, while the S&P500 and the Nasdaq closed lower by 0.2% and higher by 0.2%, respectively.

US jobless claims for the week ending May 6 rose by 22,000 to 264,000 which is the most since November of 2021. The weekly number of applications is seen as roughly representative of the number of US layoffs.  Also, the delay in the debt ceiling lift in the Parliament added to the selling pressures on Wall Street.

The 10-year US Treasury closed lower by 5 basis points at 3.392%. The yield on the 2-year Treasury closed almost unchanged at 3.908%.

Yesterday, the price of WTI closed lower by 2.3% to USD70.9/ barrel mainly as the latest US inflation data suggested that the country’s central bank the Federal Reserve might hike the policy rate further.   Meanwhile, the USDIDR closed at IDR14,722 vs. IDR14,746  the previous one.

Cheers,