The U.S. stock market closed higher as investor sentiment in AI-related stocks rebounded following news of Anthropic's initial public offering (IPO) plans. The decline in international oil prices and stabilization of Treasury yields also positively influenced investor sentiment. On the 27th, the domestic market is expected to attempt a recovery, buoyed by the strength of U.S. semiconductor stocks. However, with the Federal Open Market Committee (FOMC) meeting and major tech and semiconductor earnings reports scheduled for this week, caution is warranted due to potential volatility.
On the 26th (local time), the Dow Jones Industrial Average rose by 146.42 points (0.28%) to close at 52,361.58. The S&P 500 increased by 53.09 points (0.70%) to finish at 7,676.77, while the tech-heavy Nasdaq Composite gained 214.04 points (0.83%) to end at 26,169.38.
AI-related stocks led the market's rise. Anthropic's filing for an IPO with the U.S. Securities and Exchange Commission (SEC) revived expectations for AI monetization. Nvidia rose by 2.39%, Broadcom by 2.33%, and Micron by 2.98%. The Philadelphia Semiconductor Index also climbed by 2.82%, marking its largest increase since September 21.
Anthropic's revenue for the first half of the year surged by 1,304% compared to the same period last year, highlighting the growth potential of AI businesses. However, concerns about funding burdens arose as Meta announced plans to raise up to $95 billion to expand its AI data centers and cloud infrastructure. While investor sentiment in AI stocks is recovering, the key question remains whether increased investment will translate into actual profitability improvements.
International oil prices fell amid expectations of reduced tensions in the Middle East following visits by high-ranking officials from Saudi Arabia, Pakistan, and Turkey to Iran. West Texas Intermediate (WTI) crude for December delivery settled at $101.76 per barrel, down $1.51 (1.46%). Brent crude for December delivery closed at $115.81 per barrel, down $0.91 (0.78%). Despite the decline, oil prices remain high, and concerns about supply disruptions due to Middle Eastern geopolitical tensions persist.
This week, the FOMC's regular meeting on the 27th and 28th (local time) will take place, along with the release of the U.S. Personal Consumption Expenditures (PCE) price index for September and third-quarter GDP growth figures, as well as earnings reports from major tech companies. The market will focus not only on the interest rate decision but also on the Federal Reserve's comments regarding future monetary policy and whether increased AI investment leads to improved corporate earnings and cash flow.
The domestic market is also expected to attempt a rise, supported by the rebound in U.S. AI and semiconductor stocks. As of 8:12 a.m., in the NXT pre-market, shares of Samsung Electronics (2.58%), SK Hynix (3.61%), SK Square (4.03%), LG Energy Solution (2.13%), Samsung Electro-Mechanics (3.31%), Hyundai Motor (1.91%), KB Financial (1.22%), and Samsung Life Insurance (2.23%) are all rising.
Han Ji-young, a researcher at Kiwoom Securities, stated, "Following the disclosure of Anthropic's IPO filing, the easing of concerns over AI monetization and SpaceX's push for a $40 billion GPU leasing contract contributed to a day of gains centered around AI stocks like Micron and Nvidia. The improvement in the performance of these AI models and the expansion of their customer base reaffirm that they are translating into increased service revenue, alleviating some concerns over AI monetization."
However, the potential for increased investment in AI companies to lead to funding burdens remains a variable. One researcher noted, "As time goes on, the market will react more sensitively to the profitability and cash flow improvements of AI companies than before. In the short term, the sustainability of AI investment will likely be determined by the upcoming results from hyperscalers, impacting the short-term recovery potential of domestic and international semiconductor and AI stocks."
The KOSPI closed down over 1% the previous day, finishing in the 5,400 range. One researcher remarked, "The stock price instability of U.S. AI stocks, which had acted as a catalyst for market correction, is calming, and the KOSPI earnings consensus remains intact without significant damage. At this point, rather than further reducing stock exposure, it is advisable to prioritize maintaining existing positions that reflect the potential for price resistance improvement and stock price recovery."
* This article has been translated by AI.
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