[Good Morning Market] U.S. Stocks Rise on Earnings Hopes... Korea Eyes Samsung Results

Market Closes Higher on Weaker Oil Prices
Momentum to Vary Depending on Samsung Electronics’ Q2 Results

The U.S. stock market closed higher, buoyed by expectations for the second-quarter earnings season and a decline in oil prices. In Korea, analysts expect a rebound attempt following recent market corrections, with the momentum of any upward movement likely to depend on Samsung Electronics' earnings results.

On July 6 (local time) at the New York Stock Exchange (NYSE), the S&P 500 index rose by 54.19 points to close at 7,537.43, while the Dow Jones Industrial Average ended up 0.29% at 53,055.91. The tech-heavy Nasdaq Composite climbed 1.12% to 26,121.16.

Despite increased volatility in semiconductor stocks such as Micron (up 0.91%) and SanDisk (down 0.03%), the U.S. market finished higher, supported by optimism for second-quarter earnings, a decline in oil prices following the OPEC+ (Organization of the Petroleum Exporting Countries and non-OPEC coalition) decision to increase output, and limited upward pressure on interest rates.

On the 6th, employees at the Hana Bank headquarters dealing room in Jung-gu, Seoul were monitoring the stock market and exchange rates. On the same day, the KOSPI opened at 8,186.82, up 98.48 points (1.22%) from the previous session, while the KOSDAQ index started at 866.40, down 2.01 points (0.23%). 2026.7.6 Photo by Jo Yongjun

In addition, major "Magnificent 7" (M7) stocks such as Meta (up 3%), Alphabet (up 2.5%), Tesla (up 6.8%), and Nvidia (up 0.4%) were strong. Other semiconductor stocks excluding Micron and SanDisk, including Broadcom (up 3.7%) and AMD (up 6.6%), also surged, leading to improved resilience in tech stock prices. Han Ji-young, a researcher at Kiwoom Securities, stated, "Such resilience in stock prices will depend on the results of the second-quarter earnings season."

Han further emphasized that, as Samsung Electronics is set to kick off the global semiconductor sector’s earnings, the company’s preliminary second-quarter results will set the tone for the early part of the earnings season. "On July 7, the Korean stock market is expected to attempt a rebound, supported by the strength of the U.S. market, easing oil price pressures, and rising hopes that a bottom has been confirmed following recent corrections," Han said. "The momentum of the intraday rebound will depend on Samsung Electronics' preliminary second-quarter results," he added.

After the earnings announcement, the key focus will be whether there is follow-up buying, driven by the release of Cellon shares and the market’s ability to overcome sector-related noise. Han added, "Whether the KOSPI, including semiconductors, can regenerate profit momentum during the remainder of the earnings season will determine the strength of the market's recovery."

This content was produced with the assistance of AI translation services.