Time now for an in-depth look at the market news on this Friday, and for that, I'm joined on the line by Mr. Daniel Yoo, Global Strategist at Yuanta Securities.
Mr. Yoo, good afternoon. Thanks for coming on today.
On Wall Street, stocks closed higher on Thursday. Still not enough to recover from last week's losses, though. Fed Chair Jerome Powell said the day before that even if rates rise, the U.S. economy will be strong in the second half of the year. A recession, he said, is not inevitable. What do you make of Powell's remarks and what's happening in the global markets?
Korean stocks strongly higher today, but they've taken a real beating lately. A few of the top names like Kakao and Naver up 6 percent today. A bigger rebound on the KOSPI, which was down sharply yesterday. The currency, though, holding at around 13-hundred to the dollar. Tell us about the domestic market.
Oil prices coming way down from their recent high. West Texas was at 122 dollars a barrel just a few weeks ago, now down to about 104. Dubai crude from 117 down to 102. Where do you see oil prices going?