The New York stock market opened higher on the 4th (local time) thanks to a surge in technology stocks. This appears to have been driven by a rebound buying trend following the sharp drop in the previous transaction.
As of 10:32 a.m. on this day, the Dow Jones Industrial Average on the New York Stock Exchange (NYSE) rose 417.79 points (0.97%) to 44,007.80, the S&P 500 index increased 72.61 points (1.17%) to 6,310.72, and the Nasdaq index moved up 335.02 points (1.63%) to 29,987.70.
Earlier, the market was significantly shocked by poor employment figures announced on the 1st and President Donald Trump's new tariff executive order, but today, a rebound buying trend has emerged, leading key indices to rise across the board.
Following the U.S. July employment report, which showed non-farm job growth falling short of market expectations, concerns about economic slowdown due to Trump's tariff shock grew, resulting in a sharp decline in the New York stock market. In response, President Trump abruptly fired the Director General of the Bureau of Labor Statistics (BLS) immediately after the announcement and noted, 'I will appoint a new director in a few days.'
The market is also paying attention to the revision of the 'reciprocal tariff' executive order recently signed by President Trump. The measure includes modified tariffs ranging from 10% to 41% on numerous trading partners.
This week, there are no major economic data release schedules. Accordingly, the market is focused on the progress of trade negotiations between the U.S. and China. Previously, senior officials from both countries met in Stockholm, Sweden, last week, and Scott Bessent, the U.S. Secretary of the Treasury, mentioned, 'The framework for negotiations is taking shape.'
Alongside this, the market is also focused on major corporations' earnings announcements. Palantir is set to announce earnings after the market closes today, while AMD is expected to release results on the 5th.
On this day, all sectors are showing an upward trend. Technology and communication services are up 1.6%, utilities by 1.1%, and materials by 0.7%. By individual stocks, Berkshire Hathaway's operating profit for the second quarter has decreased by 4% compared to the previous year due to poor performance in its insurance underwriting sector, resulting in a 3% drop in its share price.