Finance

South Korean memory chip manufacturer SK Hynix successfully launched the largest-ever U.S. listing for a foreign company, raising $26.5 billion in its share offering. The stock surged 13% on its first day of trading, reflecting intense investor demand for firms positioned to benefit from the ongoing artificial intelligence infrastructure expansion.

As the second-quarter reporting season begins, analysts anticipate S&P 500 earnings to grow by more than 23% year-over-year, largely driven by the technology sector. Early reports from companies like Delta Air Lines and WD-40 have already exceeded expectations, though experts warn that high valuations leave little room for error as mega-cap tech results approach.

Brent crude prices eased to approximately $76 per barrel, paring recent gains as market concerns regarding direct military conflict between the U.S. and Iran began to moderate. The stabilization in energy costs has provided some relief to inflationary fears, allowing Treasury yields to settle near 4.54% after a period of heightened volatility.