(Morning) Yesterday, the US markets saw all three major indices rebound significantly, with the Nasdaq rising over 2% | Market Overview | Manekuri Media providing investment information and financial tips from Monex Securities.

【US Stock Market】New York Market

NY Dow: 42,343.65 △740.58 (5/27)

NASDAQ: 19,199.16 △461.96 (5/27)

1. Overview

In yesterday's US Stock Market, the three major indices rebounded significantly. Following President Trump's announcement of a delay on the 50% additional tariffs against the EU, excessive concerns about trade friction receded, and improvements in US economic indicators such as the Conference Board Consumer Confidence Index boosted investor sentiment, leading to widespread buying, particularly in technology and consumer-related stocks.

The Dow Jones Industrial Average opened 245 dollars higher at 41,849 and opened at the day's low, extending gains throughout the day. It reached a high of $747 to $42,350 in late trading and finally closed at a high of $740 to $42,343, marking its first significant rebound in five days.

In addition, the S&P 500 stock index ended trading up 118 points (2.1%), marking a significant rebound after five days. The Nasdaq Composite Index, which has a high proportion of tech stocks, also ended trading up 461 points (2.5%) at 19,199 points, showing a significant rebound.

2. Economic Indicators, etc.

U.S. durable goods orders fell 6.3% month-on-month in May, beating market expectations (-7.9%) but significantly worsening from the previous month (-7.6%). Core durable goods orders, which exclude volatile transportation equipment, rose 0.2 percent, beating market expectations (0.0 percent) and the previous result (-0.2 percent). The Conference Board's Consumer Confidence Index came in at 98.0 in May, well above market expectations (87.0) and the previous result (85.7), indicating an improvement in consumer sentiment. S&P Case-Shiller home prices in 20 cities rose 4.07% year-on-year in March, down significantly from market expectations (4.50%) and previous results (4.53%).

3. Industry Trends

In the S&P 500 sectoral index, all 11 sectors rose. Among them, consumer discretionary goods and services rose more than 3 percent, information technology and communications services rose more than 2 percent, and capital goods and services, finance, materials, real estate and healthcare rose more than 1 percent.

4. Individual Stock Trends

In the Dow Jones Industrial Average, 28 out of 30 stocks saw an increase in their sectors. In particular, Nike [NKE] rose over 4%, while NVIDIA [NVDA] rose over 3%. American Express [AXP], Goldman Sachs [GS], Amgen [AMGN], Apple [AAPL], Amazon.com [AMZN], Walt Disney [DIS], Caterpillar [CAT], Microsoft [MSFT], Home Depot [HD], and Honeywell International [HON] all rose by more than 2%.

Apart from the Dow average constituent stocks, major stocks and tech stocks were solidly performing, with Tesla [TSLA] increasing by 6.9%, Cloudstrike Holdings [CRWD] up by 3.7%, Broadcom [AVGO] rising by 3.0%, Alphabet [GOOGL] up by 2.6%, Meta Platforms [META] increasing by 2.4%, ServiceNow [NOW] up by 2.3%, and Netflix [NFLX] rising by 2.2%.

On the other hand, credit score provider Fair Isaac [FICO] fell 11.3%, making it the worst decliner in the S&P 500 index constituents. The company's stock price has been falling since Federal Housing Finance Authority (FHFA) Director General Bill Palthe expressed concern about the company's pricing and expressed support for a more cost-effective credit valuation option, but it fell further after Parthe said on the 27th that he was "not yet satisfied with FICO." PDD Holdings [PDD], which operates China's online retailer TEM, plunged 13.6% in its first-quarter earnings after reporting weaker-than-expected revenue growth due to the impact of the U.S.-China trade tension.

5. Exchange Rates and Interest Rates

The US long-term interest rate ended trading at 4.44%, which is 0.07% lower than the previous day. The dollar-yen is fluctuating in the low 144 yen range.

VIEW POINT: Today's Perspective

In yesterday's US Stock Market, the three major indices rebounded significantly. Following this trend, today's Japanese market is also expected to start with a substantial rise, with the Nikkei average likely expanding its gains by recovering the psychological threshold of 38,000 yen. On the other hand, after the buying frenzy subsides, it is anticipated that there may be a downturn due to profit-taking sales and adjustments in positions, especially with NVIDIA's earnings announcement scheduled for early morning on the 29th (Thursday) Japan time.

(Monex Securities Financial Intelligence Department, Kōsuke Oka)