The New York Stock Exchange closed higher last night, reflecting optimism about a potential ceasefire, and the domestic pre-market is also trending upward. This seems to be in anticipation of President Donald Trump’s upcoming address.
As of 8:27 a.m. on Tuesday, about 642 stocks in the Next Trade pre-market were up 1.67%.
Samsung Electronics and SK Hynix, which surged the previous day, gained 1.85% and 2.80% respectively, rebounding to $142.50 and $682.50. SK Hynix briefly reached about $701.25 in pre-market trading.
Other major blue-chip stocks, including Hyundai Motor (up 2.46%) and Hanwha Aerospace (up 3.75%), continued their upward momentum from yesterday.
Wall Street extended its rally for a second day, buoyed by hopes of a possible ceasefire in the conflict in Iran. The Dow Jones Industrial Average rose 0.48%, while the S&P 500 and Nasdaq Composite gained 0.72% and 1.16%, respectively.
The Philadelphia Semiconductor Index climbed 2.82%, driven by gains in SanDisk (up 9.03%), Micron (up 8.88%), and AMD (up 3.33%).
Kim Seok Hwan, an analyst at Mirae Asset Securities, said that despite mixed signals from Iran that have caused intraday volatility, the presence of conciliatory messages has significantly eased concerns about a rapid escalation and provided a sense of relief to the market.
On Wednesday, President Donald Trump claimed via his social media platform Truth Social that the leader of Iran’s new regime had just requested a ceasefire from the United States. However, Iranian officials swiftly denied the assertion, calling it false.
President Trump is set to deliver an address to update the public on the latest developments regarding the situation in Iran.
Han Ji Young, an analyst at Kiwoom Securities, said market volatility is expected to increase following the speech, as investors closely watch movements in oil prices and U.S. futures markets.