Micron Surges 11% on Hopes for End of Conflict; Global Oil Prices Fall

[Anchor]

The three major New York stock indices all rose following remarks by President Trump. Notably, shares of Micron, which are closely linked to the Korean stock market, jumped by more than 11%. Global oil prices saw a significant decline.

Here is the report from New York correspondent Kim Beom-joo.

[Reporter]

Financial markets were shaken once again by President Trump's remarks, which suggested that an agreement with Iran has effectively been reached.

Early in the trading session, the three major New York stock indices remained flat following news that U.S. wholesale prices rose 6.5% from a year ago, marking the largest increase in three and a half years.

However, the indices began to surge after President Trump's remarks at 1:30 p.m. local time. The Nasdaq closed up 2.5%, while the Dow and S&P 500 rose 1.86% and 1.75%, respectively.

[Donald Trump/U.S. President: It's a great thing. The Dow is up 1,000 points. It means investors like the deal. If they didn't like it, the stock market would have gone down.]

In particular, shares of semiconductor and high-tech companies, which are heavily influenced by inflation and interest rates, saw significant gains.

As the price of Brent crude oil futures fell 4%, bringing global oil prices below $90 per barrel, expectations spread that the Federal Reserve might not raise interest rates as inflation also eases.

In fact, expert forecasts that interest rates will remain at this level for the rest of the year jumped from 32% yesterday (June 11) to 46% today (June 12).

Driven by hopes that the burden on artificial intelligence and technology companies—which rely on large-scale borrowing for investment—will decrease, the Philadelphia Semiconductor Index, which tracks semiconductor-related companies, surged 7.9%.

Shares of Micron, one of the world's top three memory chipmakers and a company closely tied to the Korean stock market, jumped 11.6%.

However, there remains a possibility that the gains made today could be reversed if President Trump's assurances do not materialize.

(Reported by Kim Beom-joo | Video by Lee Hee-hoon | Video Editing by Choi Jin-hwa)
※ Please note: This article was translated by AI and may contain errors.