SK Hynix's First Day of Trading in the U.S. and Meta's Surge: The Market Bet on AI on Friday
On the day of its U.S. debut, SK Hynix's stock rose nearly 13% / Photo: X / SK Hynix
Major U.S. market indices closed higher on Friday, July 10. The market was buoyed by South Korean memory chipmaker SK Hynix’s U.S. market debut, as well as gains in the “Magnificent Seven” giants—Nvidia and Meta Platforms—whose stocks had previously lagged the market. Investors reacted only mildly to the escalating tensions in the Strait of Hormuz throughout the week, and Friday was no exception. Oil prices fell slightly amid statements from the White House that negotiations would continue, despite the end of the ceasefire.
Details
— The S&P 500 broad-market index rose 0.4% on July 10 and gained 1.23% for the week.
— The Nasdaq Composite technology index rose 0.3% on Friday and jumped 1.7% for the week.
— The Dow Jones Industrial Average, a "blue-chip" index, rose 0.3% on the day but remained down 0.5% for the week.
— The Russell 2000 Small- and Mid-Cap Index fell 0.4% on Friday and also posted a weekly decline of nearly 0.6%.
— Brent crude oil futures fell 0.3% on July 10, dropping to $76 per barrel. North American WTI traded 0.7% lower at $71.6 per barrel.
This news story is being updated.
This article was AI-translated and verified by a human editor
