[Click eStock] "Tech Stocks Lead Nasdaq Rally Amid AI Benefits"

Mirae Asset Securities analyzed in its AI Daily Global Market Briefing report on the 7th that "technology stocks led by AI benefits showed strength, driving the Nasdaq's rise."

The U.S. stock market closed mixed amid fluctuations in major indices. The S&P 500 index ended trading at 5975.38, up 0.6%, while the Nasdaq index rose 1.3% to 19,864.98. However, the Dow Jones Industrial Average fell 0.1% to close at 42,706.56, and the Russell 2000 index also declined by 0.2%.

The market was influenced by Taiwan's Foxconn announcing record-high earnings due to AI server demand, leading to strength in technology stocks. In particular, big tech stocks such as Nvidia and Broadcom rose more than 2%, leading the rally, while the blue-chip group lost momentum amid selling pressure.

Lisa Cook, a member of the U.S. Federal Reserve Board, raised concerns about the high valuations of stocks and corporate bonds, warning of the possibility of a significant decline triggered by negative factors or psychological shifts. This acted as a source of market uncertainty. Among key economic indicators, S&P Global's U.S. services PMI for December recorded a strong figure of 56.8, providing a positive outlook for economic recovery. However, the manufacturing PMI showed contraction at 49.4, indicating that improvement is still needed.

Additionally, the market is closely watching the upcoming release of the Federal Open Market Committee (FOMC) December minutes, as well as the December nonfarm payroll and unemployment rate announcements, monitoring potential changes in economic and interest rate policies. The European markets also started the week mixed among major countries but suggested potential recovery as overall investor sentiment improved.

FuboTV (+251%) triggered an explosive market reaction after Disney significantly increased its stake and announced a strategic integration with Hulu+Live TV. This is expected to strengthen its position as a new streaming competitor. Nvidia (+3.4%) saw its stock rise driven by expectations for next-generation AI chips and positive announcements at the CES event. Microsoft (+1.1%) enhanced its market value through plans for large-scale investment in AI data centers and collaboration with LG on Xbox cloud gaming.

On the other hand, Intel (-3.4%) declined as its CES announcements failed to impress amid Nvidia and AMD strengthening their market leadership. Micron Technology (+10%) surged sharply due to a surge in memory chip demand driven by increased AI demand. Disney (-0.1%) slightly fell as the Hulu+Live TV and FuboTV integration plan elicited mixed market reactions.

The U.S. 10-year Treasury yield remained stable at 4.62%. Meanwhile, yields in the UK and Japan rose slightly to 4.61% and 1.13%, respectively. This reflects the market’s focus on the upcoming U.S. nonfarm payroll report and Federal Reserve policy direction.

The dollar index fell 0.8% to 108.27, while the euro-dollar rose 0.7% to 1.04. This was interpreted as the dollar weakening due to potential tariff policy easing in the U.S. and concerns over U.S. economic indicators.

Meanwhile, WTI crude oil prices fell 0.7% to $73.45, showing volatile oil price movements amid international supply instability. Gold prices declined 0.1% to $2,635.96, indicating limited safe-haven demand. Alongside this, natural gas surged 10.3% in one day to $3.7, driven by increased demand due to falling temperatures and supply chain constraints. Overall, the market is positively influenced by the rebound of major technology stocks and improvements in semiconductor indicators.