US indices closed lower in the final trading session of 2024. Throughout the year, the Nasdaq Composite posted the best performance, rising 28.64% ytd, driven by a surge in technology stocks and the AI boom. The Dow Jones Index increased by 12.88% ytd, while the S&P 500 recorded a 23.31% ytd gain. In addition to positive sentiment from the AI enthusiasm, the market’s strong performance was also supported by the 100 basis point reduction in the Federal Reserve's benchmark interest rate and optimism surrounding potential deregulation and corporate tax cuts under the Trump administration. However, concerns remain that the Fed may reduce interest rates less aggressively in 2025 compared to last year. There are also fears that Trump may initiate a new trade war, which could trigger inflation, leading to higher US Treasury yields and a stronger US dollar.

Throughout 2024, the JCI closed 2.65% lower. The transportation sector experienced the largest decline, while the energy sector posted the strongest growth. On Monday, December 30, 2024, the JCI closed up 0.62% at 7,079 points. The technology sector recorded the highest gains, while the financial sector was the only one to decline. Foreign investors conducted a net buy worth IDR 560.89 billion, including in the non-regular market. On today's trading, the JCI is expected to move within a support range of 7,025/6,990 and a resistance range of 7,100/7,130. Stock picks: BBNI, BRPT, JPFA, CPIN, INDF, UNTR, TPIA, AMMN, MDKA, AKRA.

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