[New York Opening] Early Gains... S&P 500 Surpasses 7,000 for the First Time Ever

AFP Yonhap News

On the 8th (local time), the New York Stock Exchange opened higher across all three major indices ahead of the U.S. Federal Reserve's interest rate decision. The S&P 500 index led the rally by surpassing the 7,000 mark for the first time in history.

As of 9:30 a.m. Eastern Time, the Dow Jones Industrial Average opened at 49,143.74, up 0.29% from the previous session. The S&P 500 index started at 7,001.05, up 0.32%, crossing the 7,000 threshold for the first time ever. The tech-heavy Nasdaq index began trading at 23,965.03, up 0.62%.

The early gains were driven by heightened expectations for semiconductor technology stocks, fueled by growing demand for artificial intelligence (AI). ASML, a Netherlands-based semiconductor equipment company listed in the U.S., reported record-high orders before the market opened and raised its 2026 earnings outlook, sending its stock up nearly 5% in pre-market trading. After the market closes, major technology companies such as Tesla, Microsoft, and Meta are also scheduled to release their earnings reports.

Additionally, the Federal Open Market Committee (FOMC) is expected to announce its U.S. interest rate decision at 4 a.m. Korea Standard Time, which is anticipated to have a significant impact on the market. This FOMC meeting marks the first announcement of the Fed's interest rate policy for 2026, drawing attention as investors look for guidance on the direction of U.S. monetary policy throughout the year.