[New York Stock Market Briefing] Tech stocks led by Apple surge... Nasdaq hits record high

On the 8th (local time), all three major New York stock indexes closed higher. Following Apple’s announcement on the 6th of its massive $100 billion (approximately ₩140 trillion) investment plan in the U.S., the strong momentum lifted not only the Nasdaq but also contributed to raising all three major indexes.

On this day at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average (DJIA) closed at 44,175.61, up 206.97 points (0.47%) from the previous session. The S&P 500 index rose by 49.45 points (0.78%) to 6,389.45, while the tech-heavy Nasdaq Composite finished at 21,450.02, up 207.32 points (0.98%). The Nasdaq Composite reached an all-time high.

Apple, which contributed to the rise of all three Nasdaq indexes, soared 4.24% on the day.

Despite concerns about the global economic impact after the implementation of reciprocal tariffs at 13:01 on the 7th (Korean time), the New York stock market continued its bullish trend centered on tech stocks, buoyed by expectations of semiconductor tariff exemptions.

On the 6th, President Donald Trump stated that while he would impose a 100% tariff on imported semiconductors, companies manufacturing within the U.S. would be granted exceptions.

Additionally, the Fed’s nomination of Steven Mnuchin, a ‘Trump loyalist’ and White House National Economic Council Director, as a new board member boosted optimism for an early rate cut and contributed to improving investment sentiment.

Rick Meckler, partner at Cherry Lane Investments, said, "There are certainly investors who, as the Fed moves to cut rates, believe you shouldn’t fight the Fed," adding, "With continued uncertainty over tariffs and the possibility of tariff decisions being quickly reversed, there aren’t many investors willing to go short."

Shin Yong-hyun, Hankyung.com reporter yonghyun@hankyung.com