**◆ ‘Shutdown Lift’ Hopes Boost New York Stock Market**
The major indices of the New York stock market closed with gains. On the 10th local time, the Dow Jones Index rose by 0.81% to 47,368.63, the S&P 500 Index increased by 1.54% to 6,832.43, and the Nasdaq Index jumped 2.27% to 23,527.17. AI and semiconductor-related stocks, including Palantir, which had previously dropped due to the “AI bubble theory,” showed a recovery, with Palantir surging nearly 9%. The expectation that the U.S. federal government will soon lift the shutdown, ahead of the holiday shopping season like Thanksgiving and Christmas, has been reflected in the market, suggesting that future consumer demand, including travel, will not be hit hard and may improve.
**◆ U.S. Central Bank Divided on Further Rate Cuts**
There is a division within the U.S. Federal Reserve regarding the need for further interest rate cuts. After already reducing rates twice this year by 0.25 percentage points to a range of 3.75-4.00%, attention is on whether there will be another cut in December. St. Louis Fed President Alberto Musalem expressed skepticism about further rate cuts, while San Francisco Fed President Mary Daly called for a more flexible approach. Fed Governor Steve Miron, appointed by President Trump, stated that “further easing is essential” and reiterated the call for a 0.5 percentage point cut next month, with the market increasingly anticipating an additional rate cut in December.
**◆ ‘Bull Market’ Sees Market Cap of Top 5 Conglomerates Surge**
As the domestic stock market continues its “bull run,” there is a noticeable concentration on large-cap stocks, with the top five conglomerates accounting for more than half of the total market capitalization. An analysis by Leaders Index of 368 listed companies affiliated with large business groups showed that the total market capitalization increased by 82.4% from 1,661.7387 trillion won at the beginning of the year (January 2) to 3,030.5177 trillion won as of the 3rd of this month. The market cap share of the top five groups—Samsung, SK, Hyundai, LG, and HD Hyundai—increased by 6.3 percentage points from 45.9% to 52.2%. Particularly, in the atmosphere of a semiconductor supercycle, the share prices of Samsung Electronics and SK hynix surged, and the market cap share of Samsung and SK groups approached 40% of the total. Hyundai Motor moved from 4th to 3rd place in market cap, swapping positions with LG.
**◆ People Power Party to Protest Prosecution’s Abandonment of Appeal in Daejang-dong Case**
The People Power Party plans to visit the Supreme Prosecutors’ Office and the Ministry of Justice today (11th) to protest the prosecution’s decision to abandon the appeal in the Daejang-dong case. It is reported that they will demand the resignation of Minister of Justice Jeong Sung-ho, accusing him of “exerting external pressure.” In connection with this, People Power Party leader Jang Dong-hyuk strongly criticized, saying, “If the president was informed and condoned it, it would be grounds for impeachment. No one believes that the Minister of Justice was unaware or uninvolved in blocking the appeal of such a case.” The People Power Party held a parliamentary meeting to discuss follow-up measures, including the promotion of a standing special prosecutor.
**◆ Sub-zero Cold Expected on Commute… Large Day-Night Temperature Differences**
On this Tuesday, temperatures in some regions will drop to below freezing, leading to chilly weather during the morning commute. The added wind will lower the perceived temperature further, with a day-to-night temperature difference of about 15 degrees, requiring careful attention to health management. The weather is expected to be partly cloudy at times, clearing gradually in the afternoon, with daytime temperatures forecasted to be between 13 and 18 degrees, and fine dust levels predicted to be ‘good’ or ‘moderate’ nationwide.