On the afternoon of the 30th (Korean time), the three major indices of the New York Stock Exchange rebounded across the board, riding an upward trend.

The Dow Jones Industrial Average is trading at 51,805.69, up 211.55 points (0.41%) from the previous session. The S&P 500 is at 7,382.26, up 65.86 points (0.90%), and the Nasdaq Composite Index is at 24,884.49, jumping 441.55 points (1.81%). The Russell 2000, representing small and mid-cap stocks, also rose 16.32 points (0.56%), joining the rebound.

However, the real story of this market session lies in its 'direction.' On the previous day, the 29th, when the U.S. Federal Reserve (Fed) froze its benchmark interest rate, the New York Stock Exchange actually plunged sharply. What deserves attention is that the force that turned the market around in just one day was not monetary policy, but rather the earnings results from Big Tech companies that poured in on the same day.

■ 'Capacity to Sustain AI Investment' Becomes the New Yardstick for Big Tech

The real driving force behind the rebound on the 30th came from the earnings of major tech stocks announced earlier that morning. Microsoft and Meta Platforms sequentially disclosed their second-quarter earnings (Microsoft's fiscal fourth quarter) after the market close on the 29th. The market's reaction to the two companies went in completely opposite directions, and in the process, a new standard emerged that divides 'Big Tech capable of sustaining AI investment' from 'Big Tech that is not.'

■ Apple and Amazon Earnings to Determine the Direction

Big Tech earnings season is not over yet. Apple and Amazon are scheduled to report their earnings after the market close today. Whether the mixed reactions seen with Microsoft and Meta will expand into a broader directional trend for large-cap stocks centered on cloud and AI, or remain limited to company-specific differences, will likely be further determined by the earnings of these two companies.

[This article was written for informational purposes and does not constitute investment advice or a recommendation to buy or sell any specific stock. Stocks may exhibit high volatility due to changes in supply and demand. The final decision and responsibility for investments lie with the investor. AI provided partial assistance.]