[Good Morning Market] 100 Days of Trump Administration: US Stocks Rally, Korean Market Expected to Stay Cautious

On April 29 (local time), marking the 100th day since the inauguration of the Donald Trump administration in the United States, all three major indices on the New York Stock Exchange closed higher. The domestic stock market is expected to remain in a wait-and-see mode as major sectors are scheduled to announce their earnings.

On the previous night at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average closed at 40,527.62, up 300.03 points (0.75%) from the previous session. The S&P 500 index rose by 32.08 points (0.58%) to 5,560.83, and the Nasdaq Composite closed at 17,461.32, up 95.18 points (0.55%). With this rally, both the S&P 500 and Dow indices extended their winning streaks to six consecutive trading days.

New York Stock Exchange. Photo by AFP

Investor sentiment was buoyed by expectations that the tariff negotiations the United States is conducting with various countries could make progress. U.S. Treasury Secretary Scott Besant stated, "We will establish 18 significant trade relationships in the coming weeks," adding, "With the exception of China, 17 are moving forward." He specifically mentioned Asian countries such as South Korea and Japan as being active participants in the negotiations.

By sector, Tesla shares rose 2.2% as board member Joe Gebbia purchased approximately 4,000 shares of the company, helping to restore investor confidence. Nvidia (0.27%) and TSMC (0.66%) also ended higher, while AMD (-0.34%) and Qualcomm (-0.50%) declined, resulting in mixed performance among semiconductor-related stocks.

On April 30, the domestic stock market is expected to display a cautious tone. This is because several major events are scheduled during the upcoming market holiday on May 1, including the release of the U.S. Institute for Supply Management (ISM) Manufacturing Purchasing Managers' Index (PMI), as well as earnings announcements from Microsoft and Meta. Approximately one-third of the companies listed on the S&P 500 index are scheduled to report earnings this week alone.

On this day, major companies representing their respective sectors, including Samsung Electronics, are set to announce their earnings, making it important to pay attention to stock price movements. In the semiconductor sector, Samsung Electronics will announce results by business division, but the outlook for the memory semiconductor market is considered more important than the results themselves. In the defense sector, Hanwha Aerospace's earnings are in focus. A key point to watch is whether the market funds that flowed into shipbuilding stocks following last week's earnings announcements will shift to the defense sector.