Investors focus on December 14, FOMC Meeting Nov. Results a price in. Apple Inc. shares fell more than 1% after Reuters projected iPhone production to fall 30% next month, following the re-implementation of Zero Covid in China. Nasdaq depreciated 1% on a daily basis, leading to Wall Street’s weakness on October closing. Additionally, FOMC Meeting Nov., projected to raise the FFR by +75Bps, has priced in. The DJIA scored its highest monthly gain of up to +14 MoM, surpassing the S&P 500 and Nasdaq, rallying by +8% MoM and +4% MoM, respectively. Investors are also keeping a close eye on the FOMC Meeting Nov. on Wednesday local time, indicating a chance of a slower pace toward December FFR hikes to just +50Bps.

The JCI consistently moves in the Green Zone ahead of the inflation data release. Energy, and Transportation & Logistics rose by 2%, respectively, or led sectoral gains and sustained the JCI’s 42-point increase at the end of October. JCI’s movement yesterday was projected to slow down (Surv. 0.10% MoM, Vs. Sept. 1.17% MoM) amid the waiting for the release of Indonesia’s inflation data for the October period. This is in line with the normalization of several food commodity prices and the impact of the significant increase in subsidized fuel prices, which has been fully reflected in the September inflation rate. The results of this inflation data will become a reference for BI 7DRR at the BI RDG in November. At the start of November, NHKSI Research projects JCI to move bullish.

Download full report HERE.