Wall Street Ends Higher as Investors Turn to Earnings
SK Hynix raised about $26.5 billion, and its ADRs were indicated to open 18% above the offer price as chip stocks stayed mixed.
- On Friday, July 10, 2026, Wall Street indexes steadied as investors awaited the Nasdaq debut of South Korean chipmaker SK Hynix, which raised about $26.5 billion by selling American Depositary Receipts priced at $149 apiece.
- Geopolitical risks kept investors on edge after Iranian armed forces launched attacks on U.S. military infrastructure in the Gulf on Thursday, following U.S. strikes on Iran's southern coastal and eastern provinces.
- While Meta Platforms shares rose 6.1%, lifting the communication services sector, semiconductor stocks faced pressure as Micron Technology eased 1.6% on Friday following a 4.5% gain in the previous session.
- Research director Kathleen Brooks of XTB noted the offering is oversubscribed, stating "once it starts trading, it could lift the entire chip sector as we move into the weekend."
- Upcoming June inflation data will offer insight into the Federal Reserve's policy path, while Fed Chair Kevin Warsh is scheduled to testify before the House Committee on Financial Services next week.
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17 Articles
SK hynix rises nearly 13% in debut on Wall Street as demand for memory chips soars amid AI frenzy
NEW YORK — Shares of South Korean memory chipmaker SK hynix rose 12.8 percent as they made their debut on Wall Street, at a time when demand for chips is surging thanks to the frenzy around artificial intelligence. The company is already one of the largest in South Korea, along with Samsung Electronics, and is a member of the Kospi index. Even with a recent pullback, the country's Kospi index is up 77 percent so far this year and SK hynix shares…
Memory chip giant SK Hynix jumps nearly 13% in Wall Street debut as AI frenzy powers biggest initial share sale in the U.S. by a foreign company
SK Hynix priced its American depositary receipts, or ADRs, at $149 each Thursday. They opened Friday at $170 and closed at $168.01.
The action of South Korean memory chip giant SK hynix jumped by almost 20% during the first few minutes of its rating on Wall Street on Friday, a fanfare reception for its first day at the New York Stock Exchange.
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