Finance

South Korean memory-chip giant SK Hynix made a significant impact during its Wall Street debut, with its U.S.-listed shares surging 13% to close at $170. The high-profile listing raised over $26 billion and reinvigorated confidence across the broader semiconductor industry. This performance helped push the S&P 500 near all-time record highs as investors anticipate the upcoming quarterly earnings season.

The yield on the benchmark 10-year U.S. Treasury note settled at 4.56% on July 10, 2026, while the 2-year note ended at 4.21%. Yields had previously spiked earlier in the week due to escalating tensions between the U.S. and Iran, which raised fears of renewed inflationary pressure. However, yields edged slightly lower toward the weekend as oil prices eased and traders looked ahead to June's consumer price index data.

Global oil prices eased on Friday, with West Texas Intermediate futures closing down 0.93% at $71.41 per barrel and Brent crude dropping to $76.01. Despite recent missile strikes and renewed hostilities between the U.S. and Iran, market participants were comforted by official statements regarding a commitment to finding diplomatic solutions. Lower energy costs are helping to calm immediate inflation concerns that had troubled the bond market earlier in the week.