Weekly jobless claims rose, pushing the number of unemployed to a 10-month-high and raising hopes that the FFR hike would soon slow down. The tech-heavy Nasdaq rose more than 100 points, or led to an appreciation in Wall Street. Amid a high inflation and interest rates era, data shows that US Initial Jobless Claims ended Dec. 3, had as many as 230K claims (+1.8% Wow), with Continuing Claims ending on Nov. 26 rose to 1.7 claims, the highest level since Feb. 2022. On the other hand, economists digest this relatively biased unemployment claims data happened, as it approaches the holiday season, and companies tend to temporarily close or slow hiring, which may indicate that the US labor market remains solid.

Consumer optimism trimmed the JCI decline. Although Indonesia’s Consumer Confidence Index in Nov. slightly decreased to 119.1 (vs. Oct. 120.3) amid efficiency policy sentiment among several startups, this level is still far from the optimistic area (>100). The consumer optimism survey was mainly supported by the productive age of 20-30, who are confident with income expectations and employment availability. Yesterday, JCI briefly depreciated to the level of 6,683 points before finally closing at the level of 6,804 or only facing 15 points weakening on a daily basis. Amid several sentiments, NHKSI Research projects that JCI this weekend has the opportunity to move bullish in the short term.

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