Today’s Outlook :

 

• US MARKET : Wall Street closed mostly lower on Wednesday, although all three major indices rebounded from their session lows. Technology stocks extended their decline, weighed down by a sharp post-earnings drop in chipmaker AMD. Market participants also digested softer labor market data while awaiting Alphabet’s earnings release after the close. The NASDAQ Composite fell 1.5% to 22,904.58, after having dropped as much as 2.5% earlier in the session. The S&P 500 declined 0.5% to 6,882.76. In contrast, the Dow Jones Industrial Average rose 0.5% to 49,500.90, supported by a surge in Amgen shares following its quarterly results.

 

 

Sentiment toward software stocks has recently turned negative amid concerns over competition from new AI models. Investors have rotated out of richly valued technology names on worries about the disruptive impact of AI on established software and analytics businesses. The technology sector had weakened on Tuesday. Investors are now cautiously awaiting Alphabet’s earnings, with attention focused on its heavy AI spending—amounting to billions of dollars for data centers and chips. AI-related trading remained subdued on Wednesday after AMD shares plunged 17% due to a disappointing first-quarter outlook, despite the company posting record fourth-quarter revenue of USD 10.3 billion.

 

 

 

• EUROPEAN MARKET : European stocks were mixed on Wednesday as investors digested quarterly earnings and awaited the release of regional inflation data. Germany’s DAX fell 0.5%, France’s CAC 40 gained 1%, and the U.K.’s FTSE 100 rose 0.9%.

 

 

Preliminary January eurozone inflation data was scheduled for release on Wednesday, ahead of the ECB’s rate decision the following day. Inflation is expected to ease to 1.7% year-on-year, below the ECB’s 2% target. The ECB is expected to keep rates unchanged at 2% for a fifth consecutive meeting, although a significant downside surprise in inflation could raise concerns, given the euro’s rapid appreciation against the dollar, which could further suppress inflation

 

 

 

•  ASIAN MARKET : Asian markets were mixed on Wednesday. South Korean stocks hit an all-time high, although gains were capped as the rally in technology shares cooled following a weak close on Wall Street.

 

 

Asian markets had been supported by a strong rally in the previous session. South Korea’s KOSPI rose nearly 1% to a record high of 5,361.85 after surging almost 7% on Tuesday, driven by sharp gains in heavyweight chipmakers and technology stocks. Japan’s Nikkei 225 fell 0.7% after climbing about 4% in the prior session.

 

 

AI sentiment remained volatile, pressured by overnight declines in U.S. technology stocks that prompted profit-taking. Elsewhere, China’s Shanghai Composite edged up 0.1%, while the CSI 300 slipped 0.2%. Hong Kong’s Hang Seng fell 0.5%.

 

 

 

• COMMODITIES – PRECIOUS METALS: Gold prices rose in early Asian trade on Thursday, moving back above key levels as cooling safe-haven demand and dollar strength eased. Spot gold gained 1.1% to USD 5,019.51 per ounce, while April gold futures rose 1% to USD 5,038.76 per ounce. Earlier pressure eased after Iran and the U.S. confirmed they would hold talks this week, reducing fears of military escalation in the Middle East. Gold had climbed as high as USD 5,092.31 per ounce on Wednesday before slipping back below the USD 5,000 level. Dollar strength—triggered by the nomination of Kevin Warsh as the next Federal Reserve chair—had also weighed on metal prices.

 

 

• COMMODITIES – OIL : U.S. WTI crude prices fell on Thursday after the U.S. and Iran agreed to hold talks in Oman on Friday, despite differences over the agenda, amid heightened regional tensions. WTI declined 1% to USD 64.5 per barrel. Brent crude trading resumed at 01:00 GMT. Oil prices had surged about 3% on Wednesday after media reports suggested the planned U.S.–Iran talks could collapse.

 

 

 

• INDONESIA : The JCI closed slightly higher by 0.3% at 8,146.7, amid ongoing pressure on conglomerate-related stocks. On the positive side, fundamentally strong consumer stocks and major banks remained stable, indicating accumulation by Danantara, led by BMRI. In addition, increasing share buyback actions among conglomerate stocks signal potential positive catalysts for the IHSG, which over the past year has been supported by rotation into conglomerate group stocks. Investors are advised to remain cautious by maintaining nearby stop-loss and trailing-stop levels amid ongoing volatility.

 

 

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