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Today’s Global Economic Outlook: Key Insights into the U.S. Stock Market Boom, Easing Trade Tensions, and Big Tech Earnings Analysis
U.S. Stock Market and Key Economic Indicator Trends
Today, the U.S. stock market is showing strength, with NASDAQ up 1.78% and gains in both the Dow and S&P indices.
The S&P 500 is expected to rise for the longest streak in 9 days since 2004.
The non-farm payrolls report confirmed a higher-than-expected increase in jobs.
The average hourly wage growth rate was announced at 0.2%, lower than the expected 0.3%, which is interpreted as a potential easing of inflationary pressures.
China-U.S. Trade Negotiations and Tariff Issues
China is prepared to respond to U.S. trade restrictions and demands sincerity from the U.S.
The fact that both countries want the other to make concessions first reduces market anxiety.
China has implemented tariff exemptions on 131 items of U.S. imports, totaling $40 billion (approximately 60 trillion Korean won).
China’s sincerity is evident in the trade negotiations, including the review of restrictions related to fentanyl.
Asian Currency Appreciation and Dollar Weakness
Major Asian currencies have strengthened due to the prospects of tariff negotiations between the U.S. and China.
In particular, the Taiwan dollar rose by 5%, the Korean won strengthened by about 3%, and other currencies, including the yuan, gained strength.
The dollar exchange rate fell from 1,400 won to 1,300 won, marking a weakening of the dollar.
Big Tech and Tech Stock Earnings Analysis
Microsoft and Meta have shown resilience in responding to tariffs, while Apple and Amazon have faced difficulties due to tariff burdens.
Apple’s stock price has fallen sharply due to its reliance on overseas production and mentions of additional tariff-related costs (approximately $900 million).
Amazon’s AWS cloud division’s performance was somewhat lackluster, causing disappointment in future guidance.
Nvidia showed positive momentum, rising 2.94%, due to expectations related to AI and news of compliance with semiconductor export regulations.
Summary
The U.S. stock market is showing high gains, challenging the longest winning streak in the S&P 500.
Key economic indicators suggest the possibility of easing inflation with a higher-than-expected increase in jobs and lower wage growth.
The easing of trade tensions between China and the U.S. and China’s large-scale tariff exemptions are acting as positive signals for the market.
Asian currencies strengthened due to expectations of U.S. negotiations, and in Big Tech earnings reports, Apple and Amazon struggled with tariff burdens, while Nvidia recorded gains due to AI tailwinds.
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