Finance

South Korean memory chip giant SK Hynix saw its shares soar 13% during its first day of trading on the Nasdaq, representing a massive $26.5 billion U.S. debut. The heavy trading volume, which saw over 100 million shares change hands, provided a significant boost to the broader technology sector and reinforced market confidence in AI-related hardware.

The yield on the 10-year Treasury note ended the week around 4.56%, remaining relatively stable as lower oil prices helped mitigate immediate inflation concerns. Market participants are closely monitoring upcoming consumer price data and the leadership of new Federal Reserve Chair Kevin Warsh for signals regarding future interest rate hikes.

Meta Platforms emerged as a top performer among mega-cap tech stocks, gaining 15% over the past week following reports that it intends to produce its own AI chips. This surge helped offset mixed performances from other major technology players and contributed significantly to the Nasdaq's positive momentum.