In-depth: Global market wrap-up

It's time now for an in-depth look at the global markets this afternoon.
And for that, I'm joined on the line by Mr. Daniel Yoo, global strategist at Yuanta Securities.
Mr. Yoo, thank you as always for coming on.
Thank you.
Stocks on Wall Street closed a little lower to start the week because of worries about a spike in oil prices. Korean stocks, though higher for the day. What's happening there?
US retail trade rose 0.4 percent from a month earlier in August 2019, following a revised 0.8 percent increase in July and beating market expectations of 0.2 percent.
US business investories up higher than expected.
Business inventories in the United States increased 0.4 percent from the previous month in July of 2019, after showing no growth in June and above market expectations of 0.3 percent. Stocks rebounded at wholesalers (0.2 percent vs -0.1 percent) and at retailers (0.8 percent vs -0.2 percent) while inventories at manufacturers advanced faster (0.5 percent vs 0.1 percent). Year-on-year, business inventories rose 4.8 percent.
US consumer sentiment beats forecasts
The University of Michigan's consumer sentiment for the US rose to 92 in September 2019 from 89.8 in the previous month and above market consensus of 90.9, a preliminary estimate showed. The uptick was across both current and expected economic conditions.
Oil price jumped more than 14% due to the attack on Saudi Arabia oil production facility.
Oil prices have surged the most in 11 years after the attack in Saudia Arabia. Is this going to continue, or is it something that'll be resolved relatively soon?
Oil prices spiked Monday after a devastating attack on the heart of Saudi Arabian oil production over the weekend shocked markets and could disrupt the global supply of crude for some time.
US oil futures jumped 14.7%, settling at $62.90 a barrel. It was the biggest spike since January 2009. Futures of Brent crude, the global benchmark, settled up 14.6% at $69.02 a barrel.
Gasoline futures, meanwhile, were up more than 13%, which isn't boding well for American drivers.
Prices initially surged as much as 18% but retreated after US President Donald Trump said on Sunday night that he had authorized the use of oil from the country's emergency oil supply. Trump said oil from the Strategic Petroleum Reserve, or SPR, would be used "to keep the markets well-supplied." The US reserve is the largest backup pool of oil.
Shale gas production will be large enough to keep the oil price stable. In any case, it is negative news for Korea as Korea imports 100% of oil demand.
The Korean government is taking this quite seriously as are Korean businesses, since, for oil, we depend entirely on imports. What effect might this have on the economy and what can we do about it?
Oil price rise 10% rise in oil price has 0.4% decline in GDP and 0.5% in GNI, and 0.3% decline in consumption.
Inflation impact is high
Need to focus more on other energy source, including alternative energy.
Alright Mr. Yoo. Thank you for y