Wall Street indices closed lower, driven by a correction in technology sector stocks. Earlier, the indices had shown strength, supported by better-than-expected earnings reports from Morgan Stanley and Bank of America. However, the correction in major technology stocks led to a decline in the indices. The Q4 earnings season has started strong, with 77% of companies that have released their financial reports exceeding expectations. Meanwhile, crude oil prices corrected after a sharp increase the previous day, while gold prices continued to rise.

The JCI closed higher by 0.39% on Thursday, January 16, 2025, at 7,107. The property sector posted the largest gains, while the consumer cyclicals sector saw the biggest decline. Foreign investors recorded a net buy of IDR 430.32 billion, including in the non-regular market. Today, the JCI is expected to trade within a support range of 7,070/7,030 and a resistance range of 7,160/7,190. Stock picks: ASII, BBTN, PTBA, BRPT, ICBP, BBNI, BBCA, UNTR.

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