Daily Report | 5 August 2024
Disappointing US employment data on Friday fueled fears of a future recession, prompting investors to sell off heavily in the stock market and turn to safe-haven bonds.
Immediately Offered, SR021 Sales Projected to Reach IDR 24 Trillion
The ISM Manufacturing Index for July came in at 46.8, below the forecast of 48.2; an 8-month low and plunging into contraction territory. These two reports added to concerns about an economic slowdown even as the Federal Reserve is expected to cut interest rates next month.
Daily Report | 2 August 2024
The S&P 500 started August under heavy pressure in trading on Thursday (1/8/2024) as weaker economic data brought fears of a recession back to the fore. The Dow Jones Industrial Average plunged 669 points, or 1.6%, the S&P 500 slumped 2.8%, and the NASDAQ Composite depreciated 2.8%.
S&P Maintains Indonesia’s Credit Rating at BBB with Stable Outlook
At his press conference, Fed Chairman Jerome Powell said policymakers discussed the reasons for the rate cut, but a large majority agreed that now is not the right time; and the market assessed these central bank officials as more prepared for a rate cut in September.
Daily Report | 1 August 2024
The S&P 500 and NASDAQ posted their largest daily percentage gains since February 22; the DJIA crept up on the last trading day of July as chipmaker stocks rallied on sentiment of the Federal Reserve keeping US interest rates unchanged while hinting at possible easing in September if Inflation eases.
NAIK MARGIN FESTIVAL
NAIK MARGIN FESTIVAL
Government Receives IDR 24.68 Trillion Offers at Sukuk Auction on Tuesday (7/30)
On Tuesday, JOLTS JOB OPENINGS kicked off this week’s US labor data series, unexpectedly showing there were 8.18 million job openings created in the US in June, down from 8.23 million in May, although still above economists’ forecasts of 8 million.
Daily Report | 31 July 2024
The S&P 500 and NASDAQ indexes closed in negative territory in Tuesday’s trading, weighed down by weaker chip stocks and megacaps ahead of Q2 earnings reports from major Tech companies this week, as the Federal Reserve kicks off its two-day meeting and monitors US labor data that starts coming out one after another; while the Dow Jones Industrial Average managed to post modest gains.
Debt Ratio for First Half of 2024 Nearly 40% of GDP, Hits IDR 8,444 T
This beginning of the week will be filled by financial reports and three meetings of the world’s central banks, which could possibly make the United States and the United Kingdom open the door to interest rate cuts.
