Finance

South Korean semiconductor giant SK Hynix successfully completed the largest-ever U.S. share sale by a foreign company, raising approximately $26.5 billion. Shares of the high-bandwidth memory manufacturer surged 13% on their first day of trading, signaling robust global demand for the hardware essential to AI infrastructure.

Delta Air Lines reported a significant $1.44 billion quarterly profit, though its shares fluctuated as high fuel costs and a cautious outlook tempered investor sentiment. Meanwhile, PepsiCo noted a slight earnings miss, pointing to tightened domestic consumer budgets as rising energy prices impact household spending.

Treasury yields trended higher as investors weighed the possibility of further interest rate hikes to combat stubborn inflation, with the 10-year yield reaching 4.57%. Recent Federal Reserve reports emphasize a continued focus on price stability, leading many market participants to anticipate that borrowing costs may remain elevated longer than previously expected.