Wall Street indices closed mixed, with the Dow Jones index declining, while the S&P 500 and Nasdaq Composite indices closed in positive territory. Several earnings reports from companies below estimates contributed negatively to the index movement. The market is awaiting the release of the nonfarm payroll data later tonight, with expectations of 169,000, down from 256,000 in the previous month. Meanwhile, the Bank of England cut its benchmark interest rate by 0.25% to 4.5% due to concerns over a weakening economy. The Bank of England also revised its economic growth forecast for this year to 0.75%, down from 1.5%. Crude oil prices continued to weaken after President Trump reiterated his statement on increasing U.S. oil production. Gold prices also declined, driven by a strengthening U.S. dollar and profit-taking actions after a multi-day rally that reached new record highs.

The JCI closed 2.12% lower at 6,875 on Thursday, February 6, 2025. The basic materials sector recorded the largest correction, while the healthcare sector was the only one to book gains. Foreign investors net sold Rp2.34 trillion, including in the non-regular market. Today, the JCI is expected to trade within the support range of 6,830/6,785 and the resistance range of 6,930/6,985. Stock picks: BREN, JPFA, MYOR, KLBF, INDF, PRDA, BBCA.

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