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On the 31st, the domestic stock market is expected to show a stock-specific trend amid an overall cautious atmosphere.

On the 30th (local time), the U.S. stock market closed mixed ahead of the Federal Open Market Committee (FOMC) results. On the New York Stock Exchange (NYSE) that day, the Dow Jones Industrial Average closed at 38,467.31, up 133.86 points (0.35%) from the previous session. The S&P 500 index fell 2.96 points (0.06%) to 4,924.97, and the Nasdaq index closed down 118.14 points (0.76%) at 15,509.90.

Looking at major stocks, there was generally limited movement ahead of earnings announcements from key companies such as Google Alphabet and Microsoft. Major big tech companies including Apple (-1.93%), Google (-1.16%), Microsoft (-0.28%), Amazon (-1.40%), and Meta (-0.24%) saw slight declines. Nvidia (0.4%) and Tesla (0.3%) closed higher.

After the market closed that day, Microsoft and Alphabet released their earnings. Microsoft reported Q4 2023 revenue of $62.02 billion, an 'earnings surprise' exceeding market consensus (average securities firm forecast). On the other hand, Alphabet's results fell short of expectations, with advertising revenue at $65.5 billion slightly below the forecast of $65.8 billion, and total revenue of $86.31 billion. On the 1st, earnings announcements from Meta, Amazon, and Apple will follow.

The FOMC regular meeting results will be released on the 31st. The Federal Reserve (Fed) is expected to keep interest rates unchanged at this first monetary policy meeting of the year, and market attention is focused on whether there will be any discussion about the timing of rate cuts. Han Ji-young and Kim Ji-hyun, researchers at Kiwoom Securities, said, "The January FOMC is less likely to provide the momentum for a stock rally like in December, but since already lowered expectations have been partly reflected, the market is expected to digest a neutral outcome." They added, "The domestic stock market will generally show a stagnant trend and is expected to exhibit a stock-specific trend reflecting individual issues."

The previous day, the domestic stock market closed below the 2,500-point level due to simultaneous selling by individuals and foreigners. Han Ji-young and Kim Ji-hyun of Kiwoom Securities noted, "From an industry perspective, attention should be paid to the stock price trends of IT sectors such as semiconductors and artificial intelligence (AI), as well as economically sensitive sectors." They added, "The fact that the earnings events of the Magnificent 7, the global leading stocks, have started off unevenly is expected to increase supply-demand volatility for related stocks in the domestic market."