New York Stock Market Indices Rise Together; Focus Shifts to Fed Chair's Speech

All three major indices closed higher.

With the S&P 500 and Nasdaq continuing their strong performance, the New York stock market concluded both the first half of the year and the second quarter with record-high results.

By sector, the technology sector rose nearly 2% amid positive news of surging semiconductor prices, while the industrial sector also climbed over 1%, supporting the overall upward trend of the indices.

Optimism spread in the New York stock market last night due to solid economic indicators and progress regarding risks stemming from the Middle East.

The number of job openings in the U.S. for May stood at 7.594 million, exceeding market expectations, and the consumer confidence index for June also showed an upward trend.

Although concerns about the Federal Reserve's prolonged tight monetary policy were raised in some quarters due to robust labor market indicators, they did not dampen the stock market rally.

Regarding the situation in the Middle East, while uncertainty remains as the Iranian Foreign Ministry denied the possibility of direct negotiations with the U.S. amid reports that both countries had sent delegations to Doha, Qatar, concerns over armed conflict have subsided for now, stimulating a preference for risk assets.

As oil shipments through the Strait of Hormuz recovered rapidly, international oil prices continued to decline, and in the foreign exchange market, the dollar hit a 13-month high in the wake of the yen's weakness.

Among major stocks, Nvidia and Apple rose by over 2%, with large big-tech companies leading the rise across the indices.

In particular, driven by expectations of an improvement in the semiconductor industry, SanDisk surged by over 10%, and the Philadelphia Semiconductor Index also closed up 3.92%.

Having finished the first half of the year on a high note with record-breaking prices, the New York stock market is now focusing on the Federal Reserve Chair's speech scheduled for tonight, Korea Standard Time.
※ Please note: This article was translated by AI and may contain errors.