The Dow Jones and S&P 500 indices closed lower, while the Nasdaq Composite closed slightly higher, following the release of U.S. inflation data for January, which exceeded expectations. January inflation was recorded at 0.5% MoM and 3% YoY, both above the forecast of 0.3% MoM and 2.9% YoY. Core inflation was 0.4% MoM and 3.3% YoY, also surpassing expectations. As a result, the 10-year U.S. Treasury yield rose to 4.66%. Several technology stocks, including Amazon and Alphabet, weakened. Consumer stocks and bank stocks, which are vulnerable to a slowdown in consumer spending and weaker economic conditions, also saw declines. A positive factor was the comment from House Speaker Mike Johnson, stating that the White House is considering tariff exemptions for products such as pharmaceuticals and automobiles. Meanwhile, crude oil prices weakened due to an increase in U.S. oil reserves and the Fed's hawkish remarks, indicating a slower pace of interest rate cuts.

The JCI closed higher by 1.74% at 6,645 on Wednesday, February 12, 2025. All sectors rose, with the infrastructure sector posting the largest gains. Foreign investors recorded a net sell of IDR 208.21 billion, including transactions in the non-regular market. Today, the JCI is expected to move within a support range of 6,600/6,580 and a resistance range of 6,700/6,740. Stock picks: BBNI, BBRI, JSMR, UNTR, BRPT, TPIA, TLKM, PGAS, BREN.

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