"US-China talks went well" New York stocks rise…S&P & Nasdaq hit record highs [Morning Briefing]

◆ Major U.S. indices gain on one comment from Trump

Former U.S. President Donald Trump gave a positive assessment of the U.S.-China trade talks, saying they were "very well done," and on the 15th local time New York stock market's major indices closed higher. The Dow Jones Industrial Average rose 0.11% from the previous session to 45,883.45, the S&P 500 rose 0.47% to 6615.28, and the Nasdaq rose 0.94% to 22,348.75. The S&P 500 and the Nasdaq both closed at all-time highs. Investors also continued to expect the U.S. central bank (the Fed) to cut the benchmark interest rate at the FOMC (Federal Open Market Committee) meeting to be held on the 16th–17th.

◆ Tesla stock at eight-month high…'Musk effect'

Tesla shares jumped on the 15th local time, reclaiming the $400 range for the first time in eight months. Intraday, the stock rose as high as $425.7 before narrowing gains and closing at $410.26, up 3.62% from the previous close. Tesla shares have risen for five consecutive trading days, recording their highest close since January 23 this year. The rise was attributed to CEO Elon Musk's large-scale stock purchase. It was reported that Musk bought about $1 billion worth of Tesla shares, the largest ever, and he posted an image of Tesla's sharp share price rise chart on X (formerly Twitter), writing, "It became $420 as predicted."

◆ Google market cap tops $3 trillion…fourth company ever

On the 15th local time, Google surpassed a market capitalization of $3 trillion. Google's shares rose 4.3% from the previous session to $251.76, marking a closing record. Its market cap swelled to $3.04 trillion. This makes Google the fourth company in history to reach a $3 trillion market cap since its 2004 listing, after Apple, Microsoft, and Nvidia. Google's shares have risen more than 30% year-to-date and more than 70% from the April low. Analysts say the biggest positive factor was the court's refusal in the antitrust lawsuit to accept the remedies demanded by the U.S. Department of Justice, such as selling Chrome.

◆ Former Prime Minister Han Duck-soo, indicted for 'abetting insurrection', first trial today

The trial of former Prime Minister Han Duck-soo, who was indicted on charges including abetting the December 3 emergency martial law related to former President Yoon Suk-yeol, begins today (the 16th). It is a first pretrial conference, a procedure to confirm the positions of the defendant and the prosecution and set plans for evidence investigation ahead of the formal trial, so the defendant is not required to attend. Special Prosecutor Jo Eun-seok's team previously indicted Han without detention on charges including abetting the ringleader of the insurrection and perjury. The court will conclude the preparatory hearing with arguments that day and begin the first formal trial on the 30th.

◆ Mostly cloudy nationwide with showers…hot during the day

Today, Tuesday, the country will be mostly cloudy with showers in most areas. Expected rainfall is 5–60 mm in the Seoul, Incheon and Gyeonggi areas, and 5–40 mm in other rainy regions. Daytime highs will rise to 27–33°C, and tropical nights may occur mainly along the coast. Fine dust levels are forecast to be 'Good' or 'Moderate' across all regions.

Bonggu Kim, Hankyung.com reporter kbk9@hankyung.com