Time now for an in-depth look at the market news this afternoon.
And for that, I'm joined on the line by Dr. Song Soo-young, Professor of Business at Chung-Ang University.
Professor Song, good afternoon. Thanks for coming on the program.
Stocks in New York rose sharply overnight as headline inflation came down in the U.S. in July to 8-and-a-half percent. Still extraordinarily high, but there are hopes that it's peaked. The S&P 500 up more than two percent, the Nasdaq close to three percent. What's the story in the global markets?
Korean stocks getting a big boost today as well. Both main indices up more than one percent. The KOSPI finally closing above 25-hundred points. Samsung Electronics trying to get back to 60-thousand won a share but not quite. Strength in electronics companies, games and entertainment, banks. Tell us about the domestic market.
Oil prices are now back to the level they were before Russia invaded Ukraine. We were at around 125 dollars a barrel at the peak, but now back to about 92 dollars for WTI. Still, a rebound in the market today as demand rises for gasoline. So where do you see oil prices going from here?