(Morning) The US market yesterday was mixed with ups and downs as positions were adjusted ahead of the central bank meeting | Market Overview | Moneyクリ MoneyX Securities' investment information and media useful for money.

【US Stock Market】New York Market

NY Dow: 44,837.56 ▼64.36 (7/28)

NASDAQ: 21,178.59 △70.27 (7/28)

1. Overview

The previous day's US Stock Market had mixed results. The Dow Jones Industrial Average opened trading at $44,946, up $45. Although it started slightly higher, it soon turned lower, leading to a directionless day. Midway through, there were moments of an upward turn due to relief from the tariff agreement, but with major tech earnings announcements scheduled for tomorrow and the upcoming FOMC meeting, profit-taking and position adjustments led to a decline in the latter half of the day. Ultimately, it closed down $64 at $44,837.

On the other hand, there was buying in semiconductors and the Nasdaq Composite Index, which has a high proportion of tech stocks, also rose by 70 points to 21,178 points, marking its fourth consecutive increase. The S&P 500 Index rose by 1 point to close slightly higher at 6,389 points, ending six consecutive days of gains. Both indices have reached new highs.

2. Economic Indicators, etc.

There were no major economic indicators released.

3. Sector Trends

In the S&P 500 sectoral stock price index, 3 out of the 11 sectors rose. Energy increased by more than 1%, while information technology and consumer discretionary services saw slight gains. On the other hand, 8 sectors declined, with real estate, materials, and utilities falling by more than 1%, while other sectors experienced declines of less than 1%.

4. Individual Stock Trends

In the Dow average component stocks, 14 out of 30 stocks rose. Nike [NKE], which saw an upgrade in investment ratings by analysts, rose by more than 3%, while NVIDIA [NVDA], Boeing [BA], and IBM [IBM] each rose by more than 1%. The largest decline was seen by Travelers Companies [TRV], which fell by more than 2%. Additionally, a total of six stocks, including Amgen [AMGN] and Verizon Communications [VZ], fell by more than 1%.

Outside of the Dow average constituents, Tesla [TSLA], which signed a large contract with South Korea's Samsung Electronics in the semiconductor sector, saw a rise of 3.0%. The semiconductor sector also remained strong, with Advanced Micro Devices [AMD] rising by 4.3% after reports of target price increases from some brokerage firms. In contrast, Cisco Systems [CSCO] fell by 1.1% due to a downgrade in investment rating, which served as a selling factor.

5. Exchange Rates, Interest Rates, etc.

The US long-term interest rate rose by 0.02% to 4.41% from the previous day. The dollar-yen exchange rate is hovering around the mid-148 yen range on the morning of the 29th.

VIEW POINT: Today's Perspective

The US Stock Market the previous day saw mixed results, with selling in major stocks. On the other hand, tech stocks continued to perform steadily. Additionally, the USD/JPY exchange rate remained in the 148 yen range, which is considered supportive for the Japanese market compared to the previous day. However, with the central bank meeting approaching, it is difficult to expect buying in Japanese tech stocks ahead of their earnings announcements, and a day with heavy upper resistance is anticipated.

(Monex Securities Financial Intelligence Department Keita Yamaguchi)