U.S. Closing

Tesla #PMISlow #PepsiCo

NASDAQ 15,696(+1.59%)
10-year U.S. bond interest rate 4.6060% (-0.17%)
USD index 105.684p (-0.41%) NDF 1,373 KRW (-4)

The U.S. stock market, which has been adjusted about 10% since April 11, seems to be recovering quickly this week. Major big tech companies have successfully rebounded. In particular, Nvidia, which plunged 10% last week for no reason, almost made up for the drop, rising 9% over the past two days. Semiconductor companies such as Meta, ASML, and Texas Instruments rose sharply.

One of the most important issues today is Tesla’s earnings announcement. Sales fell 9% and net profit fell 55%, but it is soaring by 12% after-hours. Since the stock price has fallen 40% this year alone, low-priced purchases appear to flow in after the earnings announcement. Expectations for what Musk will say also seem to be contributing to the rise in stock prices. When will Model 2 be released? Stock prices are expected to depend on price and production.

The S&P Global April PMI preliminary was released. It fell below the baseline at 49.9 and is a sign that the economy is slowing. Interest rates and the dollar fell as the Fed’s expectations for a rate cut grew. PepsiCo’s earnings beat expectations, but its shares also fell on good results as it worried about slowing consumption among low-income earners due to inflation.

Concerns about the Fed’s tightening due to the overheated economy and geopolitical risks pulled the market down in April, but it is recovering again toward the end of the month. Our market was also strong on the previous day, focusing on leaders with good performance such as semiconductors, defense, and power facilities. You can look forward to SK Hynix’s performance this week.