FX.co ★ US Stocks Rise as SK Hynix Soars in Debut

US stock indices ended higher on Friday ahead of the upcoming earnings season, with SK Hynix surging in its US market debut. The S&P 500 climbed 0.4%, the Nasdaq 100 gained 0.3%, and the Dow Jones Industrial Average added 150 points. American depositary receipts of SK Hynix jumped 15% above their offering price after the company raised $26.5 billion in the largest-ever US listing by a foreign issuer.

Performance among peer chipmakers was mixed: Nvidia rose 4% and AMD advanced 2%, while Broadcom slipped 0.3% and Intel fell 2.4%. In the tech services space, Meta gained 6% after research firm SemiAnalysis released a positive report on the company’s AI compute business.

Financials and other traditional sectors also drew support as oil prices paused their recent rebound, easing worries about another potential Federal Reserve rate hike. JPMorgan edged up 0.3%, while Mastercard and Bank of America each added 0.7%. In the industrial and manufacturing segment, Applied Materials rose 2.4%, and Caterpillar climbed 1.5%.