Finance

The tech sector saw significant activity as South Korean memory chip giant SK Hynix surged 13% in its Wall Street debut on Friday. Investor enthusiasm for artificial intelligence hardware also bolstered established players, with Meta rising 6% on news of internal AI chip production and Nvidia gaining 4%. This momentum helped the S&P 500 navigate a choppy session where several other sectors, including materials and financials, finished in the red.

A semi-annual monetary policy report released by the Federal Reserve highlighted that price pressures 'stepped up' this spring, largely driven by energy costs related to the ongoing conflict with Iran and the rapid buildout of AI infrastructure. While the Fed has maintained interest rates between 3.5% and 3.75%, the report's hawkish tone has led investors to adjust expectations for potential rate hikes later in 2026. New Fed Chair Kevin Warsh is scheduled to provide further testimony to Congress regarding these findings next week.

As of July 11, 2026, the cryptocurrency market is experiencing a period of cooling momentum with Bitcoin trading around the $64,000 level. Analysts point to a challenging mix of high interest rates, a strong dollar, and intense competition for capital from high-performing AI stocks as primary factors weighing on digital asset prices. Sentiment remains cautious, with market fear and greed indicators leaning toward a fearful reading amid shifting global liquidity.