The JCI February 24, 2023

𝐅𝐞𝐛𝐫𝐮𝐚𝐫𝐲 𝟐𝟒, 𝟐𝟎𝟐𝟑

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟔,𝟕𝟗𝟎𝐩𝐭 – 𝟔,𝟗𝟐𝟎𝐩𝐭(𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟔,𝟖𝟒𝟎𝐩𝐭)

* 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐞𝐱𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐡𝐢𝐠𝐡𝐞𝐫 𝐛𝐲 𝐚𝐫𝐨𝐮𝐧𝐝 𝟎.𝟓%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐬𝐮𝐩𝐩𝐨𝐫𝐭𝐞𝐝 𝐛𝐲 𝐚 𝐦𝐮𝐭𝐞𝐝 𝐥𝐚𝐭𝐞𝐬𝐭 𝐣𝐨𝐛 𝐝𝐚𝐭𝐚 𝐨𝐟 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒)

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

Morning,

The Jakarta Composite Index (JCI) today (2/24) is expected to trade between 6,790pt–6,920pt to attempt higher and be supported by bargain hunters.

Yesterday (2/23) on Wall Street, the DJIA closed higher by 109 points or 0.3% to 33,154pt, while the S&P500 and the Nasdaq closed higher by 0.5% and 0.7%, respectively.

The US jobless claims fell to 192k for the week ended February 18, the Labor Department reported Thursday, lower than the forecast by Dow Jones forecast of 197k units.

The 10-year United States Treasury yield yesterday traded lower by 4 basis points at 3.881%, and the yield on the policy-sensitive 2-year Treasury was almost unchanged at 4.691%.

Yesterday, the price of WTI rose by 2% to USD75.4/ barrel, mainly on supply constraints along with the news that Russia is to cut oil exports, effective in March,  from its western posts by up to 25% or higher than its announced production cuts of 500bpd.  Meanwhile, the USDIDR closed at  IDR15,179 vs. IDR15,187 the previous one.

Cheers,