Yahoo Finance
US stocks barely budged on Friday as SK Hynix's (SKHYV) US listing tested the AI memory trade and investors monitored traffic through the Strait of Hormuz.
The Dow Jones Industrial Average (^DJI) gained 0.2%, while the S&P 500 (^GSPC) rose 0.1%.
The tech-heavy Nasdaq Composite (^IXIC) traded near the flat line followinga winning day on Wall Street.
Stocks were little changed after SK Hynix made itsNasdaq debut, Friday's marquee event.
Shares of the South Korean memory chip maker and Nvidia (NVDA) supplier opened at $170 per share, representing a pop of over 14% from its IPO price.
The company raised $26.5 billion in its US share offering, making its US listing the largest ever by a foreign company.
Meanwhile, oil prices eased as investors continued to watch developments in the Middle East after the US and Iran launched their heaviest attacks since the ceasefire agreement was signed.
West Texas Intermediate crude futures (CL=F) hovered near $71 a barrel, while Brent crude (BZ=F), the international benchmark, traded above $75 a barrel as traffic through theStrait of Hormuz slowed again.
In corporate news, Delta Air Lines (DAL) stock fell after the airlinereported substantial fuel costsin the second quarter, offset by its premium business.
The air carrier beat Wall Street's earnings estimates and reinstated its full-year guidance.
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| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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