IHSG Potentially Sideways Today

Jakarta: The Samuel Research Team projects that the Composite Stock Price Index (IHSG) or Jakarta Composite Index (JCI) will be unstable in today's trading. These conditions should be watched out for, but on the other hand stock investors can take advantage of them seeking profits while still controlling risk.
 
"This morning the Nikkei gained 0.95 percent and the Kospi weakened 0.41 percent. We estimate that the JCI will potentially go sideways today, in line with mixed sentiment from global and regional market movements," said the Samuel Research Team, quoted from their daily research, Monday, July 24, 2023.
 
Meanwhile, US stocks ended mixed on Friday local time (Saturday morning Indonesia time), as investors weighed mixed corporate earnings results. The Dow Jones Industrial Average rose 2.51 points, or 0.01 percent, to 35,227.69. The S&P 500 added 1.47 points, or 0.03 percent, to 4,536.34.

Meanwhile, the Nasdaq Composite index lost 30.50 points, or 0.22 percent, to 14,032.81. Six of the 11 primary S&P 500 sectors ended in the green, with utilities and healthcare leading gains by gaining 1.50 percent and 1.01 percent, respectively.
 
Meanwhile, the communications and industrial services sector led the decline by 0.50 percent and 0.46 percent respectively. Then, investors are eyeing more income from well-known companies. CSX shares fell 3.71 percent after the transportation giant missed second-quarter earnings expectations.
 
American Express shares fell 3.92 percent after posting lower-than-expected earnings. Interpublic Group was the S&P 500's worst performer, falling 13.32 percent after the advertising firm slashed its growth forecast.
 
The company's second quarter earnings have been mixed so far. About 75 percent of S&P 500 companies that have reported second-quarter earnings have topped analyst expectations, according to FactSet data, even though the overall earnings outlook is not favorable to analysts.
 
On top of that, Investors are now looking forward to more corporate earnings and the Federal Reserve's policy meeting next week. Edward Moya, senior market analyst at Oanda, said the Fed is expected to resume rate hikes at its July 26 meeting.
 
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