Market Review and Prediction

The indices on Wall Street rose on Friday, supported by positive sentiment from lowerthanexpected PPI and CPI data, a decline in US Treasury yields, and the start of the Q4 2024 earnings season, with financial performance from several major banks surpassing expectations. Additionally, the market is awaiting the inauguration of Donald Trump for a second term as U.S. President on Monday, January 20, 2025. Investors are keen to see what executive orders Trump will issue following his inauguration. Market participants will also focus on the continuation of the earnings season, with notable financial reports scheduled for release this week from companies like Netflix, P&G, J&J, and others. Meanwhile, the Bank of Japan is expected to raise interest rates by 0.25% this week. The IMF has revised its global economic growth forecast upward to 3.3% for this year, from the previous prediction of 3.2%, largely driven by an upward revision in the U.S. economic growth outlook.

On Friday, January 17, 2025, the JCI closed up by 0.66% at 7,154. The consumer cyclical sector saw the largest gains, while the transportation sector experienced the largest corrections. Foreign investors posted a net buy of IDR 240.32 billion, including in the non-regular market. For today’s trading, the JCI is expected to move within a support range of 7,100/7,070 and a resistance range of 7,190/7,215. Stock picks: BMRI, BBCA, BBNI, BRIS, ASII, UNTR, TLKM, SSIA, INDF.

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