The indices on the Wall Street exchange closed mixed. The Dow Jones and S&P500 indices ended higher, while the Nasdaq Composite closed in negative territory. The positive sentiment stemmed from the Producer Price Index (PPI) being lower than estimated. The PPI for December 2024 was recorded at 0.2%, lower than the estimated 0.4%. The core PPI remained stagnant. Ongoing corrections in the technology sector stocks weighed on the S&P500 and Nasdaq Composite indices. The market is now anticipating the Consumer Price Index (CPI) data to be released tonight. If the CPI comes lower than forecasts, it will open more room for the Federal Reserve to further reduce interest rates. Meanwhile, crude oil prices corrected due to projections from the US government that US oil demand will remain stagnant this year. In contrast, gold prices strengthened, driven by the lower-than-expected PPI.

The JCI on Tuesday, January 14, 2025, closed down 0.86% at the 6956 level. The healthcare sector experienced the largest correction, while the technology sector posted the biggest gains. Foreign investors conducted a net sell of IDR 633.2 billion, including in the non-regular market. Today, the JCI is expected to move within the support range of 6930/6890 and resistance of 7000/7040. Stock picks: ANTM, TINS, INCO, UNTR, MDKA, SRTG.

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