[Good Morning Stock Market] US Stocks Close Mixed, Domestic Market Expected to Trade in a Box Range

While the US stock market closed mixed, the domestic stock market is expected to continue its range-bound movement ahead of the inflation data release and the inauguration of Donald Trump's second administration.

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On the 13th (local time) at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average rose 358.67 points (0.86%) from the previous trading day to close at 42,297.12. The S&P 500, centered on large-cap stocks, increased by 9.18 points (0.16%) to 5,836.22, while the tech-heavy Nasdaq fell 73.53 points (0.38%) to close at 19,088.10.

The three major indices started lower as the impact of fading expectations for interest rate cuts continued. However, short-term overselling led to bargain buying, helping the S&P 500 reverse an intraday decline of over 1% into gains. The Nasdaq also reduced its intraday loss by 1.4 percentage points.

By sector, consumer staples, technology, communication services, and utilities declined, while the other sectors rose. Energy and materials surged more than 2%, and healthcare, industrials, and real estate increased by over 1%.

Among individual stocks, the large tech group known as the 'Magnificent 7 (M7)' all closed lower except Tesla, which rose 2.17%. Apple, Nvidia, and Meta fell more than 1%, while Microsoft, Amazon, and Alphabet were relatively flat.

Major components of the Philadelphia Semiconductor Index, TSMC and ARM, dropped around 3%, and ASML fell over 1%. Micron Technology declined more than 4%.

US pharmaceutical company Moderna plunged over 16% after significantly lowering its sales forecast for this year.

The domestic stock market is expected to maintain a range-bound trend reflecting macroeconomic uncertainties. Ji-won Kim, a researcher at KB Securities, said, "The 10-year US Treasury yield is at 4.8%, and expectations for Federal Reserve (Fed) rate cuts have weakened, dampening investor sentiment. With economic indicators such as the US Producer Price Index (PPI) and Consumer Price Index (CPI) upcoming, along with the start of Trump's second administration, the market is reflecting uncertainty. We expect the domestic stock market to continue its range-bound movement for the time being."