Finance

South Korean memory-chip manufacturer SK Hynix successfully launched the largest-ever U.S. listing by a foreign corporation, raising approximately $26.5 billion. The company's ADRs surged 13% on their first day of trading at the Nasdaq, reflecting intense investor appetite for critical infrastructure components in the AI sector.

Megacap technology stocks provided significant upward pressure on market indexes, with Meta Platforms jumping approximately 6% for its best weekly performance in two years. Nvidia also supported the advance by rising 4%, while other 'Magnificent Seven' names helped the S&P 500 approach record highs even as broader market breadth remained narrow.

Treasury yields trended higher as the Federal Reserve signaled a continued commitment to its 2% inflation target in its semi-annual monetary policy report. While most traders expect interest rates to remain steady at the next meeting, persistent inflationary pressures and strong labor data have kept the possibility of additional rate hikes in 2026 on the table.