Wall Street Indexes closed lower on Friday due to concerns over rising inflation and the trade war. January's nonfarm payroll data showed an increase of 143,000 jobs, lower than the previous month's 307,000 and the estimated 155,000. The unemployment rate dropped to 4% from 4.1% in the previous month. However, hourly wages rose by 0.5%, higher than the estimate and the previous month's 0.3%, triggering inflation concerns. The Michigan Consumer Sentiment Index for February dropped to 67.8, down from 71.1 in the previous month and below the forecast of 71.3, indicating growing pessimism among consumers about the economy. A concerning sign was that survey respondents expect the inflation rate to reach 4.3%, 1% higher than the previous month, marking the highest level since November 2023. Negative sentiment was also fueled by Trump’s statement about plans to impose retaliatory tariffs on U.S. trade partners, which could mean the U.S. would raise its tariff rates to match those imposed on it.

Economic data from the U.S. to be released this week include CPI, PPI, and retail sales. Domestically, key economic data to be released includes motorcycle sales, consumer confidence index, retail sales, and car sales.

The JCI closed lower by 1.93% at 6,742 on Friday, February 7, 2025. The energy sector stocks saw the biggest correction, while the financial sector stocks posted the largest gains. Foreign investors recorded a net sell of IDR 513.87 billion, including transactions in the non-regular market. Today, the JCI is expected to move within the support range of 6,700/6,660 and resistance range of 6,780/6,830. Stock picks: BBCA, BBRI, BRIS, ICBP, UNTR, ISAT, TLKM, INDF.

This report is prepared strictly for private circulation only to clients of PT Waterfront Sekuritas Indonesia. It is purposed only to person having professional experience in matters relating to investments. The information contained in this report has been taken from sources which we deem reliable. No warranty (express or implied) is made to the accuracy or completeness of the information. All opinions and estimates included in this report constitute our judgments as of this date, without regards to its fairness, and are subject to change without notice. However, none of PT Waterfront Sekuritas Indonesia and/or its affiliated companies and/or their respective employees and/or agents makes any representation or warranty (express or implied) or accepts any responsibility or liability as to, or in relation to, the accuracy or completeness of the information and opinions contained in this report or as to any information contained in this report or any other such information or opinions remaining unchanged after the issue thereof. We expressly disclaim any responsibility or liability (express or implied), its affiliated companies and their respective employees and agents whatsoever and howsoever arising (including, without limitation for any claims, proceedings, action, suits, losses, expenses, damages or costs) which may be brought against or suffered by any person as a results of acting in reliance upon the whole or any part of the contents of this report and neither PT Waterfront Sekuritas Indonesia, its affiliated companies or their respective employees or agents accepts liability for any errors, omissions or misstatements, negligent or otherwise, in the report and any liability in respect of the report or any inaccuracy therein or omission there from which might otherwise arise is hereby expresses disclaimed. This document is not an offer to sell or a solicitation to buy any securities. This firms and its affiliates and their officers and employees may have a position, make markets, act as principal or engage in transaction in securities or related investments of any company mentioned herein, may perform services for or solicit business from any company mentioned herein, and may have acted upon or used any of the recommendations herein before they have been provided to you. © PT Waterfront Sekuritas Indonesia 2025