Time now for an in-depth look at the market news this afternoon.
And for that, I'm joined on the line by Mr. Daniel Yoo, Global Strategist at Yuanta Securities.
Mr. Yoo, good afternoon. Thank you for making time today.
Let's start with the markets. Stocks in New York closed a little lower, though not as low as they were mid-session. It seems a lot of investors are worried about valuations, interest rates, and maybe a move away from tech. What's the story in the global markets?
Despite that decline on Wall Street, Korean stocks were up today, the KOSPI by about one-and-a-quarter percent. This time it looks like it was institutions maybe looking for some bargains. Tell us about the local market.
We're getting more comments on the economic recovery from officials at the Fed. The Fed's Vice Chair, Richard Clarida, says jobs are still down about 8 million from a year ago, but he also thinks the Fed can boost employment without driving prices too much higher. Where do you see Fed policy headed in the coming months?
We're seeing a little uptick in oil prices right now. Contracts for West Texas crude for next month up about 1.4 percent. What do you see happening with oil in the near term?