Jan 29, 2026 Market Update: Fed Holds Rates as Expected; Memory Semiconductor Rally Continues, Led by Micron and Intel

[26.01.29.시황] 연준, 예상대로 금리 동결…마이크론, 인텔 등 메모리 반도체 랠리 지속[월가 뉴스레터]
Watch on YouTube ↗  |  January 28, 2026 at 22:03  |  41:26  |  3PRO TV (삼프로TV)
Speakers
Park Myung-sung — Global Market Strategist

Summary

Host Yeo Do-hoon and global market analyst Park Myung-sung review the Fed's expected rate hold, mixed mega-cap earnings, and a continuing memory semiconductor rally. Park highlights weak-dollar tolerance, surging gold and silver, geopolitical oil risk, and selective strength in AI infrastructure, nuclear, and US equities, while flagging Palantir valuation risk and several headline-only moves.

  • Fed held rates as expected; two officials voted for a cut.
  • Mega-cap earnings were mixed: Meta and Tesla rose after hours while Microsoft fell on cloud growth and AI cost concerns.
  • Memory and semiconductor names rallied, led by Seagate, Micron, Intel, and ASML on strong 2028 demand commentary.
  • Gold and silver surged as Trump tolerated dollar weakness and Bessent signaled no intervention.
  • Oil rose on Trump's Iran ultimatum; nuclear names gained on a fuel-supply plan.
  • Park favored US equities over cash and flagged GE Vernova, Meta, Tesla, and nuclear names, while warning on Palantir valuation.
  • SpaceX IPO timing, Circle, Bitcoin, and quantum moves were treated as headlines rather than clear trades.
Ideas
Park Myung-sung Global Market Strategist 3:18
AI capex flows to chips, servers.
Park argues that the market's dominant frame remains that big tech must spend heavily on AI, and that this capex flows to semiconductor and server companies, keeping the AI supply chain leadership intact.
SMH AI-SECTOR MED
Park Myung-sung Global Market Strategist 4:31
Semiconductor rally led by memory.
Park says the semiconductor rally remains powerful, led by memory: Seagate jumped after cloud customers discussed 2028 demand growth and supply stability, suggesting a seller's market beyond prior 2027 expectations; Micron, Intel, ASML and equipment names also rallied with short covering, and AI-demand sustainability has pushed back bubble fears.
MU INTC STX SNDK WDC ASML HIGH
Park Myung-sung Global Market Strategist 5:32
Nuclear fuel policy supports uranium names.
Park says nuclear stocks are worth watching again after the Department of Energy announced a plan to strengthen nuclear fuel supply; the policy catalyst lifted Centrus Energy and Cameco.
LEU CCJ MED
Park Myung-sung Global Market Strategist 6:19
Weak-dollar policy bias persists.
Park says Trump's tolerance of a weak dollar and Bessent's message that the U.S. is not intervening mark a weaker-dollar bias that eases financial conditions and supports nominal assets; the sharp fall has paused but the policy signal remains dollar-negative.
USD MED
Park Myung-sung Global Market Strategist 6:53
Gold and silver surge on weak dollar.
Park highlights that with Trump explicitly tolerating dollar weakness and Bessent only verbally checking the dollar's fall, gold surged 6% to $5,400 and silver jumped 10%; he says precious metals and minerals are among the only assets rising, with Tether buying gold because it now looks safer than the dollar.
GLD SILVER HIGH
Park Myung-sung Global Market Strategist 7:13
Iran risk lifts oil, watch sentiment.
Park flags that Trump's ultimatum to Iran and broader geopolitical uncertainty pushed WTI to $63; the level is not historically threatening, but the short-term spike can unsettle market sentiment.
WTI MED
Park Myung-sung Global Market Strategist 10:08
Meta can monetize AI capex via ads.
Park views Meta positively: its EPS beat, the capex increase is acceptable because 2026 operating profit is expected to exceed 2025, and AI capex should be monetized through advertising; the after-hours stock rose, which he finds understandable.
META MED
Park Myung-sung Global Market Strategist 11:13
Tesla robotaxi and Optimus are key.
Park says Tesla's earnings are less important than robotaxi/Optimus progress and XAI stake handling; he notes Tesla already proved strong free cash flow, so the key is whether its investment plans stay on track.
TSLA MED
Park Myung-sung Global Market Strategist 24:54
US equities favored over cash.
Park argues that with the Fed holding and the dollar weak, liquidity conditions support asset prices; he says flows have to go into US equities and that cash is not the place to be, even as he notes the S&P 500's 7,000 milestone.
SPY MED
Park Myung-sung Global Market Strategist 29:12
Gas turbine demand supports GE Vernova.
Park says fading AI-bubble fears reinforce the need for gas turbines and data-center power; GE Vernova posted undeniably strong earnings and rallied.
GEV MED
Park Myung-sung Global Market Strategist 31:39
Palantir valuation risk, RBC downside.
Park says Palantir remains under pressure because RBC warned it could fall 70% after earnings due to persistent valuation concerns; he says the risk is already being reflected ahead of next week's results.
PLTR MED
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This 3PRO TV (삼프로TV) video, published January 28, 2026, features Park Myung-sung discussing SMH, AI-SECTOR, MU, INTC, STX, SNDK, WDC, ASML, LEU, CCJ, USD, GLD, SILVER, WTI, META, TSLA, SPY, GEV, PLTR. 11 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Park Myung-sung  · Tickers: SMH, AI-SECTOR, MU, INTC, STX, SNDK, WDC, ASML, LEU, CCJ, USD, GLD, SILVER, WTI, META, TSLA, SPY, GEV, PLTR