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Morning,
The Jakarta Composite Index (JCI) today (12/7) is expected to trade in the range of 7,010 – 7,150 points to hold ground with the support of bargain hunters.
Meanwhile, yesterday (12/6) on Wall Street, the DJIA closed lower by 70 points or 0.2% to 36,054 points, while the S&P500 and the Nasdaq Composite closed lower by 0.2% and 0.6% respectively.
US private payrolls grew by 103,000 workers in November, below the downwardly revised 106,000 in October and the 128,000 Dow Jones estimate. The softer print of the labor market was perceived as a higher chance for the Federal Reserve to set foot for a soft landing.
The yield of the 10-year ย US ย Treasury Note was lower by 10 basis points to 4.117%, while the yield on theย 2-year Treasury bond was trading higher by 2 basis points to 4.601%.
Yesterday, the WTI futures closed lower by 4.1% at USD69.4/barrel, mainly on demand concerns along with the latest figure of US weekly gasoline inventories, higher by 5.4mn barrels. ย Meanwhile, the USDIDR closed at IDR15,504 vs. IDR15,504 the previous one.
Cheers,