The JCI May 8, 2024

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𝐌𝐚𝐲 𝟖, 𝟐𝟎𝟐𝟒

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• 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟕,𝟎𝟔𝟎 – 𝟕,𝟐𝟏𝟎 𝐩𝐨𝐢𝐧𝐭𝐬 (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟕,𝟏𝟐𝟒 𝐩𝐨𝐢𝐧𝐭𝐬)

• 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐞𝐱𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐡𝐢𝐠𝐡𝐞𝐫 𝐛𝐲 𝐚𝐫𝐨𝐮𝐧𝐝 𝟎.𝟏% 𝐚𝐬 𝐭𝐫𝐚𝐝𝐞𝐫𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐰𝐞𝐢𝐠𝐡𝐞𝐝 𝐭𝐡𝐞 𝐬𝐭𝐫𝐨𝐧𝐠 𝐞𝐚𝐫𝐧𝐢𝐧𝐠𝐬 𝐫𝐞𝐥𝐞𝐚𝐬𝐞 𝐢𝐧 𝐭𝐡𝐞 𝟏𝐐𝟐𝟒 𝐚𝐠𝐚𝐢𝐧𝐬𝐭 𝐭𝐡𝐞 𝐜𝐚𝐭𝐜𝐡 𝐨𝐟 𝐢𝐧𝐟𝐥𝐚𝐭𝐢𝐨𝐧

• 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐢𝐬 𝐞𝐱𝐩𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐟𝐥𝐮𝐜𝐭𝐮𝐚𝐭𝐞 𝐬𝐮𝐩𝐩𝐨𝐫𝐭𝐞𝐝 𝐛𝐲 𝐬𝐭𝐚𝐛𝐥𝐞 𝐔𝐒𝐃𝐈𝐃𝐑 𝐚𝐧𝐝 𝐨𝐢𝐥-𝐜𝐥𝐨𝐬𝐞

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Morning,

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The Jakarta Composite Index (JCI) today (5/8)  is expected to trade in the range of  7,060 – 7,210 points to attempt higher with the support of bargain hunters.  

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Meanwhile, yesterday  (5/7) on Wall Street, the DJIA closed higher by 32 points or 0.08%  to  38,884  points. The S&P500 and the Nasdaq Composite closed higher by 0.13% and lower by 0.19%, respectively.

The yield of the 10-year  US  Treasury fell by 2 basis points to 4.457%. The 2-year Treasury yield was higher by 1 basis point to 4.83%.

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Yesterday, the US West Texas Intermediate futures for June settlement, closed lower by 0.13%  at USD78.38/barrel, mainly supported by news on the  prospect of flow of supply from the US  strategic petroleum reserve against the current level of production from the OPEC+ member. Meanwhile, the USDIDR closed at IDR16,054 vs. IDR16,025.

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Cheers,