Market Review and Prediction

The main indexes on Wall Street continued their upward trend, driving both the Dow Jones and S&P500 to reach all-time highs. The market was optimistic about the appointment of U.S. President-elect Donald Trump’s choice for Treasury Secretary, Scott Bessent, who is expected to help steer the economy without triggering inflation. Meanwhile, U.S. Treasury yields and the U.S. dollar weakened. The same trend was observed in crude oil and gold prices. The US stock markets will be closed on Thursday in observance of Thanksgiving and will close early on Friday. As a result, trading volumes are expected to be lower. Investors are also awaiting the release of the PCE inflation data, which will be published on Wednesday.

JCI closed up 1.65% at 7314 on Monday, November 25, 2024. The financial sector posted the largest gains, while the technology sector was the only one to experience a decline. Foreign investors recorded a net sell of IDR 573.15 billion, including transactions in the non-regular market. On today's trading, the JCI is expected to move within a support range of 7287/7250 and a resistance range of 7350/7370. Stock picks: BBRI, BMRI, BBNI, BBCA, ASII, INDY, UNTR, JSMR, CPIN, JPFA, BSDE, CTRA, SMRA.

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