Finance

South Korean memory-chip maker SK Hynix achieved the largest-ever U.S. share sale by a foreign company, raising $26.5 billion in its Nasdaq listing. The stock surged as much as 19% during its first trading day before finishing with a 13% gain, revitalizing the market's enthusiasm for artificial intelligence infrastructure.

U.S. crude oil futures settled lower on Friday at approximately $71.41 per barrel, providing a slight reprieve for markets despite a 4% increase over the full week. Investors are closely monitoring the dissolution of a ceasefire between the U.S. and Iran, which has sparked fears of persistent inflation and influenced expectations for the Federal Reserve's upcoming policy decisions.

Market focus is shifting toward the upcoming corporate earnings season, with major institutions like JPMorgan Chase, Bank of America, and Citigroup scheduled to report next week. Analysts expect aggregate earnings growth of 23.4% for S&P 500 companies this quarter, a significant increase from earlier projections that sets a high bar for corporate performance.