The main indices on Wall Street closed mixed, with the Dow Jones index closing lower while the S&P 500 and Nasdaq Composite indices closed at record highs. Technology sector stocks posted gains. The U.S. ISM manufacturing index for November improved to 48.4, although it remains in contraction territory, it was above the forecast of 47.5. Meanwhile, crude oil prices remained stable amid optimism about rising factory activity in China, along with concerns that the Fed will not cut interest rates at its December meeting. Gold prices weakened due to the strengthening U.S. dollar.

The Indonesian stock market is still overshadowed by negative sentiments, including higher core inflation and the weakening rupiah against the U.S. dollar, which reduces the probability of BI lowering the BI Rate on December 18. On Monday, December 2, 2024, the JCI closed down 0.95% at 7046. The consumer cyclicals sector experienced the largest correction, while the energy sector recorded the largest gain. Foreign investors recorded a net sell of IDR 1.28 trillion, including transactions in the non-regular market. Today, the JCI is expected to move within a support range of 7020/6966 and resistance at 7080/7100. Stock picks: UNTR, ADRO, ADMR, TAPG, EMTK, BREN, AMMN, CPIN, JPFA.

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