Wall Street indexes rallied, with the S&P 500 reaching a record high. In a virtual speech at the World Economic Forum, Trump stated that he would push for an immediate reduction in interest rates. Additionally, he mentioned plans to urge Saudi Arabia and OPEC to lower crude oil prices. As a result of these comments, crude oil prices and short-term US Treasury yields saw a decline. While the President cannot control interest rates, Trump's remarks generated a positive sentiment on Wall Street. Several corporate earnings reports that exceeded estimates also contributed to the positive outlook. Conversely, crude oil prices continued to weaken, and gold prices corrected due to a stronger US dollar. The market is awaiting the upcoming Federal Reserve meeting on January 28-29, 2025.

The Indonesia Stock Exchange (IDX) will be closed on January 27-29, 2025. The JCI closed 0.34% lower at 7,232 on Thursday, January 23, 2025. The property sector experienced the largest correction, while the technology sector posted the biggest gain. Foreign investors made a net purchase of IDR 18.01 billion, including in the non-regular market. Today, the JCI is expected to move within a support range of 7,200/7,180 and a resistance range of 7,250/7,280. Stock picks: BBCA, BRIS, ISAT, ICBP, INDF, TOWR, PGAS, SSIA, TPIA.

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