Finance

South Korean semiconductor giant SK Hynix saw its shares soar 13% during its record-breaking debut on the Nasdaq. The company raised over $26 billion in the largest-ever U.S. listing by a foreign entity, further fueling investor optimism surrounding the artificial intelligence sector.

In its July 10 semi-annual monetary policy report to Congress, the Federal Reserve noted that inflation has stepped up this spring, driven by tariffs and energy costs related to geopolitical conflicts. The report indicates that personal consumption expenditures are running at approximately double the central bank's 2% target, suggesting interest rates may remain elevated for longer.

The energy sector outperformed all others this week with a 3.4% gain, closely followed by a 3.3% rise in technology shares. In contrast, basic materials and healthcare were the worst-performing sectors, experiencing declines of 2.5% and 1.7%, respectively.