The indices on Wall Street continued to rise, driven by a rally in technology sector stocks due to optimism surrounding AI and the new Trump administration. President Trump announced a joint venture called Stargate, in collaboration with OpenAI, Oracle, and Softbank, to invest at least USD 500 billion in AI infrastructure in the U.S. The S&P 500 index reached a new all-time high. Additionally, positive sentiment was supported by better-than-expected financial results from several major companies. Meanwhile, crude oil prices continued to decline due to concerns that potential import tariffs under Trump could negatively impact crude oil demand. On the other hand, gold prices strengthened again, approaching their previous high.

The JCI closed up by 1.05% on Wednesday, January 22, 2025, at the level of 7257. Technology sector stocks posted the largest gains, while the property sector stocks experienced the most significant correction. Foreign investors recorded a net buy of IDR 293.03 billion, including in the non-regular market. For today’s trading, JCI is expected to move within the support range of 7220/7200 and resistance levels of 7280/7320. Stock picks: BMRI, BRIS, CPIN, BREN, BMRI, TLKM, ISAT, ICBP, INDF, ASII, TOWR.

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