Finance

South Korean memory chip giant SK Hynix launched its U.S.-listed shares on the Nasdaq, raising approximately $26.5 billion in the largest foreign listing in American history. The stock surged 13% on its first day of trading, signaling robust investor appetite for the AI supply chain. This blockbuster offering followed shortly after SpaceX's record-breaking IPO, further highlighting the massive capital deployment toward AI infrastructure.

Oil prices experienced significant fluctuations this week after President Trump announced the end of a ceasefire with Iran, leading to fresh U.S. strikes on Iranian targets. Brent crude futures initially jumped over 5% to reach $78.02 a barrel before paring some gains to settle in the low $70s. This geopolitical instability has heightened inflationary concerns, even as energy remains one of the top-performing sectors for the year to date.

The Federal Reserve, led by new Chair Kevin Warsh, has reiterated a shift toward pure data dependence while holding interest rates in the 3.50% to 3.75% range. Officials are closely monitoring sticky services inflation and recent energy shocks, noting that further rate hikes remain a possibility if inflation does not trend toward the 2% goal. Market participants are now focused on upcoming June inflation data to gauge the likelihood of a restrictive policy path for the remainder of 2026.