Dow and Nvidia hit all-time highs on high performance expectations… Will the KOSPI also make a new record this time? [Investment 360]

Dow Jones industrial average surpasses 43,000 for the first time in history
NVIDIA market capitalization reaches $340 billion in the middle of trading… trailing Apple, the largest market cap company closely
KOSPI recovers to the 2620s with simultaneous increase of Samsung Electronics and SK hynix,

An image of employees working at the New York Stock Exchange (NYSE). [AFP],
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, ‘New York stock market soared ahead of the 3rd quarter earnings announcement. For the second day in a row, the New York stock market continued its strong performance with Dow Jones Industrial Average and NVIDIA reaching new all-time highs. The market is being driven by high expectations for the performance of major companies, especially leading the market with large tech stocks.’,
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, ‘On the 14th (US Eastern Time), Dow Jones Industrial Average on the New York Stock Exchange closed at 43,065.22, up 201.36 points (0.47%) from the previous session. The Standard & Poor’s (S&P) 500 index rose by 44.82 points (0.77%) to 5,859.85, while the Nasdaq Composite index closed at 18,502.69, up 159.75 points (0.87%) from the previous session.’,
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, ‘The US markets were open for trading despite the Columbus Day holiday, as the bond market remained closed. Although trading volume was lower than usual due to the holiday, investors showed a preference for buying stocks with positive earnings expectations.’,
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, ‘In particular, the Dow Jones Industrial Average broke through the 43,000 mark for the first time in history. The market was largely influenced by the strong performance and higher earnings outlook announced by JP Morgan Chase and Wells Fargo last week. Bank earnings are considered a leading indicator by Wall Street for assessing the performance of the quarter. On the 15th, Bank of America, Goldman Sachs, Johnson & Johnson, and on the 16th, Morgan Stanley and United Airlines will report their 3rd quarter earnings.’,
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, ‘John Stoltzfus, Chief Investment Strategist at Oppenheimer, stated, “Despite uncertainty surrounding policy proposals from presidential candidates in an election year and heightened geopolitical risks in the Middle East, the S&P 500 has hit a record high for the 45th time this year, demonstrating economic resilience and healthy profit growth” and indicated, “This suggests that there is room for further market upside.”’,
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, ‘However, with the US presidential election just three weeks away and concerns such as surging US Treasury yields, there are still unstable factors, leading to a growing sense of caution that the market may not easily continue its upward trend.’,
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Leader in artificial intelligence (AI) chips, NVIDIA [Reuters],
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, ‘Meanwhile, tech stocks also showed strength. In particular, NVIDIA, which owns the AI chip Blackwell, closed at a record high with a 2.43% increase. Its market capitalization exceeded $340 billion during trading and closed at $330.86 billion. It is closely following the current top market cap company, Apple.’,
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, ‘NVIDIA’s stock price rose to $139.60 during the trading session before slightly retreating. Its all-time high was set on June 20th at $140.76. NVIDIA’s stock price has risen by 186.63% since the beginning of this year.’,
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, ‘Following that, Apple (1.65%), Microsoft (0.68%), Alphabet (1.05%), and other major tech stocks also closed higher.’,
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, ‘As US semiconductor stocks surged, attention was drawn to domestic semiconductor stocks. The Korean stock market rose to the 2620s as Samsung Electronics recovered to the 60,000-won level. SK hynix also closed at 187,500 won, up 0.81%.’,
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, ‘In particular, there has been interest in SK hynix following foreign media reports on the sell-out of the 12-month allocation of NVIDIA’s new AI chip Blackwell on October 12th (local time), reflecting expectations for strong AI demand. It is now speculated how this sudden rise of NVIDIA will affect SK hynix.’,
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, ‘Lee Kyung-min, a researcher at Daishin Securities, said, “With the news that the 12-month allocation of NVIDIA’s Blackwell chip has already been sold out, shares related to NVIDIA’s HBM (high-bandwidth memory) value chain, such as SK hynix and Hanmi Semiconductor, showed strength,” adding, “With inflows of bargain hunters to Samsung Electronics, semiconductor sector led the KOSPI’s rise.”‘,
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, ‘Kim Woon-ho, a researcher at IBK Investment & Securities, stated, “Recent stock prices overly reflected concerns about the growth potential of artificial intelligence (AI),” and added, “Even considering the slowdown in AI server investment and HBM growth rate, there should be no concerns about future earnings improvement next year.”‘,
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