The domestic stock market is facing a challenging period due to concerns over shrinking artificial intelligence (AI) investment following the U.S. midterm elections. Next week, several key variables will influence market movements, including the U.S. Consumer Price Index (CPI), earnings from AI cloud company Coreweave, and the expiration of KOSPI 200 options.
The U.S. CPI, set to be released on the afternoon of the 10th (Korean time), will be closely watched as an indicator of interest rate prospects. In September, the CPI rose 3.7% year-over-year, while the core CPI increased 2.6%. Lee Kyung-min, a researcher at Daishin Securities, noted that if prices exceed expectations, the Federal Reserve may hike interest rates further, burdening the stock market. Conversely, a price slowdown could stabilize U.S. Treasury yields and help growth stocks rebound.
Coreweave, a U.S. AI cloud company, will hold its third-quarter earnings briefing on the 11th (Korean time). Investors will focus on whether the company's data center operations lead to expected sales. Kim Se-hwan, a researcher at KB Securities, highlighted risks such as delays in power connections or data center completions, which could delay sales and increase interest costs.
The KOSPI 200 monthly option is scheduled to expire on the 12th. Market volatility is expected as investors adjust their positions. Analysts warn that if foreigners continue selling and program sales overlap with the expiration, the index could fall significantly. However, some advise monitoring supply and demand trends on the next trading day to assess the market's direction.