Today’s Outlook :
• US MARKET : Wall Street closed mixed on Thursday amid volatile trading in the technology sector. The S&P 500 slipped 0.1% to 7,354.42, the Nasdaq Composite fell 0.5% to 25,358.60, while the Dow Jones Industrial Average edged up 0.1% to 51,920.93 after briefly reaching a new intraday record high.
Micron Technology surged nearly 16% after reporting quarterly earnings and guidance that exceeded expectations, supported by strong demand for AI chips and data centers. In contrast, Apple plunged 6.1% after raising prices for MacBooks, iPads, and smart home devices to offset rising costs caused by shortages of memory chips and storage.
On the economic front, investors focused on May’s Core PCE inflation data, the Federal Reserve’s preferred inflation gauge. Core PCE rose 0.3% month-on-month and 3.4% year-on-year, in line with expectations, while headline PCE increased 0.4% MoM and 4.1% YoY. Despite meeting forecasts, inflation remains well above the Fed’s 2% target.
The data comes amid uncertainty over the monetary policy outlook after energy supply disruptions caused by the U.S.–Israel–Iran conflict previously drove oil prices higher and intensified global inflationary pressures.
• EUROPEAN MARKET : European markets advanced on Thursday for the first time this week after oil prices retreated to pre-Middle East conflict levels, easing inflation concerns and reducing expectations of aggressive ECB rate hikes.
The STOXX 600 gained 0.8%, Germany’s DAX rose 1.1%, France’s CAC 40 added 0.6%, Italy’s FTSE MIB increased 0.3%, and the UK’s FTSE 100 climbed 0.7%.
The decline in oil prices prompted investors to reassess the ECB’s monetary policy outlook after its recent 25-basis-point rate hike. The improved sentiment also supported interest rate-sensitive sectors such as technology and real estate
• ASIAN MARKET : Asian markets rallied on Thursday after Micron Technology’s upbeat outlook boosted optimism over AI spending and fueled a rally in semiconductor stocks. South Korea’s KOSPI surged 5.7%, while Japan’s Nikkei 225 jumped 5%.
The gains were led by memory chip stocks after Micron signaled resilient AI-related demand. Samsung Electronics rose 5.3%, while SK Hynix soared 13.9%, recovering part of the sharp global technology sell-off earlier this week.
In China, the CSI 300 gained 1.2% while the Shanghai Composite closed flat. Sentiment was supported by the government’s plan to issue up to €5 billion in sovereign bonds and the People’s Bank of China (PBOC)’s adjustment to reverse repo operations to improve monetary policy transmission.
• COMMODITIES : Oil prices edged lower during Asian trading on Friday and remained on track for a third consecutive weekly decline. Optimism over the U.S.–Iran peace agreement and the normalization of shipping traffic through the Strait of Hormuz outweighed concerns after a cargo ship was attacked near Oman.
Brent crude fell 0.5% to USD 74.89 per barrel, while WTI declined 0.5% to USD 71.58 per barrel. On a weekly basis, both Brent and WTI are expected to fall around 7%, extending losses since the preliminary U.S.–Iran peace agreementreached last week.
• INDONESIA : The JCI closed higher at 5,999.04 on Thursday, supported by the rebound of several index movers from the Barito Group, Sinarmas— particularly DSSA—and ASII.
From a technical perspective, if the JCI fails to move back above the 6,000 level, there remains potential for a correction toward the 5,300–5,400 support area. However, if it successfully breaks above 6,000, the next upside targets are 6,100 and 6,240.
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