Dow Jones edged down by 0.34% or 112 points, dominated by the Health sector, which reported weak sales performance, as well as a lackluster performance from the Energy sector despite rising world oil prices supported by optimism that demand from China will increase as the border opens, plus a weaker USD currency further pushing oil prices up.
Core inflation data in Dec. from the Eurozone was recorded to fall to the level of 9.2% (lower than forecasts and the previous period), although core inflation still rose by 5.2% YoY vs the previous 5%.
A line of global economic data still released last Friday, such as the UK Construction PMI (Dec.), which fell to 48.8 (lower than the forecast and previous period), and the European zone CPI (Dec.) began to fall to 9.2% YoY. However, core inflation still showed an increase of 5.2% YoY, compared to 5.0%.
The US employment data duo turned out better than expected, namely ADP Nonfarm Employment Change (Dec.) of 235K, higher than the forecast of 150K and the previous period of 182K; while Initial Jobless Claims recorded at 204K and 223K.
The US market equally contracted by around 1%, started by the Dow Jones slipping 1% or 339 points, followed by the Nasdaq minus 1.5% and the S&P500 falling by 1.2%. The US employment data duo came out better than the forecast, namely ADP Nonfarm Employment Change (Dec.) of 235K, higher than the forecast of 150K and 182K at the previous period; while Initial Jobless Claims recorded at 204K, lower than the forecast of 225K and 223K.
Perseroan adalah Bank Daerah yang merupakan perseroan terbatas yang saat ini seluruhnya dimiliki oleh Pemerintah Provinsi Sumatera Utara bersama-sama dengan Pemerintah Kota dan Pemerintah se-Kabupaten Sumatera Utara. Perseroan selalu menanamkan tekad untuk menjadi bank terkemuka di daerah melalui produk dan layanan kompetitif serta jaringan luas yang dikelola secara profesional dengan tujuan mendorong pertumbuhan Ekonomi Daerah.
All three Wall Street indexes closed higher, led by the S&P 500 gained 0.75%, the Dow Jones gained 0.4% or 133 points, and the Nasdaq gained 0.69%. The trading was volatile as the market still digested the Federal Reserve’s December Meeting Minutes result, which implied that the trend of high-interest rates would persist for some time. Moreover, the Job Openings and Labor Turnover Survey (JOLTs) data showed a figure of 10.5 million (greater than the forecast of 10 million).
The Federal Reserve December Meeting Minutes implied a trend of interest rate hikes that will still be high for some time to come, as well as job vacancy data on Job Openings and Labor Turnover Survey (JOLTs), which rose by 10.5 million (above the forecast of 10 million); this shows that labor demand remains strong, thereby reducing the possibility that the Fed will put brakes on the rate hikes, let alone cut the FFR. US Treasury yields moved in negative territory, with US10YT closing down 2.21% in Federal Reserve’s hawkish tone.
Wall Street index closed lower starting the US stock trading day of 2023, with the Dow Jones slightly weakening by 10 pts, triggered by a 12,2% and 3,7% drop in Tesla and Apple stocks, respectively. This happened after Tesla could not reach quarterly delivery estimates, and Apple hit its lowest price since June 2021 as its rates were downgraded due to production cuts in China.
