United States (US) fourth-quarter GDP was slightly higher to 4.1 percent from 4.0 percent - Photo: Privacy

JAKARTA (TheInsiderStories) – Good Morning! United States (US) fourth-quarter GDP was slightly higher to 4.1 percent from 4.0 percent. However, the initial jobless claims dropped by a more than expected 111,000, to 730,000 lows triggered fears of faster inflation and selloff in the Wall Street.

The unexpected data made the Dow slumped more than 1 percent and the tech-laden Nasdaq lost more 3 percent. The other triggered was the yield on the 10-year Treasury note surged above the 1.5 percent, the level not seen since February 2020 .

In the commodity market, gold settled down 1.3 percent to US$1,755.40 per troy ounce after US bond yields ran riot to the upside. While, crude oil prices hit their highest level since early January 2020 amid growing caution that the recent surge in prices will lead OPEC and Russia to open the taps again when they meet next week.

The OPEC and allies meeting to set output quotas for April is scheduled for March 4. This morning, West Texas Index crude price were up 0.1 percent to $63.30 a barrel and Brent crude futures rose 0.2 percent at $66.30 per barrel.

On Thursday, Indonesian Rupiah closed up 0.01 percent to 14.083 per US Dollar and the Jakarta Composite Index (JCI) jumped 0.62 percent to 6,289.65 compared to the previous day. For today, the analysts believed that the movement of both instruments will be determined by the US economic data.

From domestic side, the second phase of the vaccination program also support the sentiment in the financial market. One of the drivers for today is the loan growth data. The investors are also looking forward to the financial performance of the issuers during 2020.

With limited positive news, the observers sees the Rupiah will be in the range of 14,050 – 14,130 versus the American Dollar and the JCI has the opportunity to go to 6,315. Stocks to be watch for today are PT Indika Energy Tbk (IDX: INDY), PT Astra International Tbk (IDX: ASII), PT Barito Pacific Tbk (IDX: BRPT), and PT Indocement Tunggal Perkasa Tbk (IDX: INTP).

Then, PT Telkom Indonesia Tbk (IDX: TLKM), PT Bank Negara Indonesia Tbk (IDX: BBNI), PT Indofood Sukses Makmur Tbk (IDX: INDF), and PT Semen Indonesia Tbk (IDX: SMGR) stocks.

May you have a profitable Day!

Written by Linda Silaen, Please Read Our News to Get More information about Indonesia