Wall Street Rally Led by Tech Stocks; Micron Set as Key Variable

The Personal Consumption Expenditures (PCE) price index for August and Micron's earnings report are scheduled to be released on the 30th, followed by the September employment report on October 2.

Last weekend, the three major U.S. stock indices closed higher across the board.

The Nasdaq recovered the 27,000 mark, and the S&P 500 rose 0.51%.

Last week, the U.S. stock market showed strength centered on tech stocks, despite a mixed phase where a surge in Treasury yields and expectations for the resumption of U.S.-Iran negotiations clashed.

Meta Platforms' next-generation AI agent, Muse, elicited an explosive response from the market, leading a rally in AI-related stocks, while the Philadelphia Semiconductor Index also surged 6.3%.

Meanwhile, major economic indicators are set to be released this week.

Beginning with the Job Openings and Labor Turnover Survey (JOLTS) to be released on the 29th, the August PCE price index monitored by the Federal Reserve, along with the September ADP private employment report and second-quarter GDP growth rate, will be unveiled on the 30th.

Subsequently, the Institute for Supply Management (ISM) manufacturing index for September will be released on October 1, and the employment report will be unveiled on October 2 to gauge the state of the U.S. labor market.

In particular, Micron, which will release its fourth-quarter scorecard on the 30th, is a core variable.

It will be possible to determine whether the demand for memory semiconductors, essential for expanding AI infrastructure, continues to show a solid trend.

Meanwhile, Nike is expected to face a leadership test amid negative news regarding the departure of key executives ahead of its earnings release.

On the 29th, the U.S. JOLTS report will allow observers to check for signs of a slowdown in the labor market.

This has been a report from New York stock markets.
※ Please note: This article was translated by AI and may contain errors.