Wall Street stocks rose, driven by large-cap growth stocks. Nasdaq lead gains, up 1.4%; followed by the S&P500 0.9% and the Dow Jones 0.5%. Meanwhile, energy stocks weakened due to falling crude oil prices. Market participants continue to wait for the Fed meeting next week, projected to raise interest rates by 75 bps to curb high inflation. Economic data shows weekly Initial Jobless Claims rose 7,000 to 251,000, the highest since last November. This figure is higher than the market survey of 240,000.

BI 7DRRR remains at 3.50%. JCI closed down 11 points to 6,864, with the Healthcare sector down 1.2%. Then, followed by Basic Materials and Technology, which fell 0.5% each. JCI’s movement yesterday responded to BI’s still dovish attitude, amid the potential for the Fed to return to aggressive Hawkish next week. The rupiah exchange rate is trading around the IDR15,000/USD level. NHKSI Research projects that the JCI will move downward again, within a range of 6,700-6,900.

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