[Good Morning Market] US Stocks Hit Record Highs... Domestic Market Eyes on 'Commercial Act Amendment'

The New York Stock Exchange has reached a new all-time high, rebounding from the shock of President Donald Trump's tariff policy. This week, the domestic stock market is expected to be influenced by both internal and external issues, including tariff negotiations and the amendment to the Commercial Act.

On June 27 (local time), the S&P 500 index closed at 6,173.07, up 32.05 points (0.52%) from the previous trading day, setting a new record high at the close. This is the first time since February 19, four months ago. The Nasdaq index also hit a new all-time high, rising 105.54 points (0.52%) to 20,273.46, while the Dow Jones Industrial Average ended the session at 43,819.27, up 432.43 points (1.00%).

The market gained momentum on expectations of easing tariff tensions. U.S. Treasury Secretary Scott Besant stated in a foreign media interview that trade negotiations could be concluded by September 1, which is Labor Day in the United States. He explained that the U.S. is close to reaching agreements with 10 out of its 18 major trading partners. Although President Trump declared a halt to negotiations at one point due to Canada's introduction of a digital tax, which triggered a wave of sell-offs, the major indices rebounded before the close, reflecting the market's optimism for a resolution to the trade conflict.

Additionally, the U.S. core Personal Consumption Expenditures (PCE) price index, an inflation indicator, continued its upward trend in May, exceeding market expectations. It rose 0.18% month-on-month and 2.68% year-on-year. At the same time, both personal income and consumer spending declined, raising concerns about weakening demand. The market interpreted this as increasing the likelihood that the Federal Reserve would keep interest rates unchanged, fueling expectations for accommodative policy.

By sector, gains were led by technology stocks. Nvidia rose 1.76%, pushing its market capitalization past $3.8 trillion, while Nike surged 15% as its earnings outlook exceeded expectations. In contrast, Palantir fell 9.37% due to concerns over weakening defense industry demand.

This week, the domestic market is expected to be driven by external factors such as speeches by central bank governors at the European Central Bank (ECB) Forum (Sintra Forum) and U.S. employment data, as well as internal factors including the passage of the amendment to the Commercial Act and whether foreign investors will resume net buying. Lee Sunghoon, a researcher at Kiwoom Securities, analyzed, "Since the amendment to the Commercial Act is a core pledge of the current administration, its passage is highly likely, and the content will now be key." He added, "Given that it is also linked to the foreign investor supply environment, it will have a significant impact on the direction of the KOSPI."