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 higher. For the first time, the Nasdaq Composite closed above the 20,000 level, driven by gains in Alphabet shares. Most technology stocks posted gains. November inflation data was in line with expectations, at 0.3% mom and 2.7% yoy. Core inflation was 0.3% mom and 3.3% yoy. With inflation data meeting estimates, the market is optimistic that the Fed will cut interest rates by 0.25% at next week’s meeting. Meanwhile, crude oil prices strengthened as the European Union imposed additional sanctions threatening the flow of Russian oil. However, rising U.S. oil inventories limited crude oil price gains. Gold prices also strengthened due to expectations of a Fed rate cut next week.

On Wednesday, December 11, 2024, the JCI closed up 0.15% at 7464. The property sector recorded the largest gain, while the transportation sector experienced the largest correction. Foreign investors made a net buy of IDR 495.4 billion, including in the non-regular market. Today, the JCI is expected to move within a support range of 7440/7400 and resistance at 7500/7530. Stock picks: BBRI, BBCA, BBTN, ASII, INCO, TLKM, ISAT, CPIN.

This report is prepared strictly for private circulation only to clients of PT Waterfront Sekuritas Indonesia. It is purposed only to person having professional experience in matters relating to investments. The information contained in this report has been taken from sources which we deem reliable. No warranty (express or implied) is made to the accuracy or completeness of the information. All opinions and estimates included in this report constitute our judgments as of this date, without regards to its fairness, and are subject to change without notice. However, none of PT Waterfront Sekuritas Indonesia and/or its affiliated companies and/or their respective employees and/or agents makes any representation or warranty (express or implied) or accepts any responsibility or liability as to, or in relation to, the accuracy or completeness of the information and opinions contained in this report or as to any information contained in this report or any other such information or opinions remaining unchanged after the issue thereof. We expressly disclaim any responsibility or liability (express or implied), its affiliated companies and their respective employees and agents whatsoever and howsoever arising (including, without limitation for any claims, proceedings, action, suits, losses, expenses, damages or costs) which may be brought against or suffered by any person as a results of acting in reliance upon the whole or any part of the contents of this report and neither PT Waterfront Sekuritas Indonesia, its affiliated companies or their respective employees or agents accepts liability for any errors, omissions or misstatements, negligent or otherwise, in the report and any liability in respect of the report or any inaccuracy therein or omission there from which might otherwise arise is hereby expresses disclaimed. This document is not an offer to sell or a solicitation to buy any securities. This firms and its affiliates and their officers and employees may have a position, make markets, act as principal or engage in transaction in securities or related investments of any company mentioned herein, may perform services for or solicit business from any company mentioned herein, and may have acted upon or used any of the recommendations herein before they have been provided to you. © PT Waterfront Sekuritas Indonesia 2024