Finance

South Korean memory giant SK Hynix raised $26.5 billion in its American depositary receipt offering, marking one of the largest foreign debuts in U.S. market history. The company began trading on the Nasdaq under the symbol SKHYV on July 10, 2026, providing a fresh vehicle for investors to capitalize on high-bandwidth memory demand for AI infrastructure. The offering was reportedly oversubscribed by more than seven times, reflecting robust institutional interest despite recent tech sector pullbacks.

Investors are preparing for a pivotal second-quarter earnings season where S&P 500 profit growth is projected to rise by over 23%. Expectations are particularly steep for the technology sector, with analysts forecasting a 65% surge in earnings driven by continued AI capital expenditures. While these strong fundamentals provide a baseline for the market, analysts warn that such lofty benchmarks leave little room for error, as seen in the recent negative reaction to modest misses from companies like PepsiCo and Levi Strauss.

U.S. Treasury yields eased on July 9, 2026, after a sharp two-day spike triggered by rising oil prices and concerns over a potential new inflationary cycle. The 10-year Treasury note yield moved toward 4.56%, down from recent highs, as oil prices retreated despite ongoing conflicts in the Middle East. Markets are currently pricing in at least one Federal Reserve rate hike before the end of 2026, as officials remain split on the necessity of further restrictive policy.