Outlook

Three Fed dissents point to a gradual, pre-emptive tightening bias rather than urgency, while the BoE raises the bar for hikes and the BoJ’s FX intervention strengthens the case for Q4 normalization.

July proved to be a very volatile month for KOSPI investors as the index suffered from massive concentration. For indications of volatility, the KOSPI has lost a quarter of its value since late June.

The era of rapid rate relief has been postponed. The Fed has bought itself time. How much it does not control: oil, bond markets, and the consumer will decide.

Global stock markets have become more concentrated—but not in every way. In recent years, a few high-profile technology companies have dominated the returns of both US and global stock indices.

Stocks ended last week down as Q2 corporate results, Middle East developments, and the chips trade took investors for a choppy ride.

Middle East peace hopes sparked strong but short-lived stock gains. Even as the path to a longer-term truce was widened by reduced geopolitical tensions, equity market excitement faltered because tech weakness spoiled the risk-on rally.

OpenAI is building a serious robotics effort, and for investors trying to understand where AI goes after software, that signal deserves close attention.

Semiconductor stocks are approaching their lower Bollinger Band. The group could continue to decline this week. even as its bullish momentum appears to have become more balanced.

Stocks rose to start the week, with the Dow hitting another record close and the Nasdaq climbing more than 1 percent as investors shook off valuation concerns that plagued AI stocks over the past few weeks.

A weekend of hostilities between the US and Iran is triggering a risk-off day on Wall Street, as climbing crude, rising rates and a strengthening greenback batter investor sentiment. The renewed attacks are generating growing worries about the feasibility of a longer-term truce.

For now, the FED's new chairman is sending the message that he will be tough on inflation — and the jobs report gives him cover to do so, even though the nonfarm payroll number came in surprisingly low.

Softer US payrolls, slowing UK activity, and resilient Japan business sentiment dominated the week. Lower oil prices and easing inflation concerns also reduced Fed hike fears.