$SKHY

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Update: US Equity Indexes Rise as Diplomatic Engagements With Iran Send Crude Oil Lower

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes rose amid a broad-based rally as crude oil extended declines after Washington replaced air strikes on Iran with diplomatic engagements.The Nasdaq Composite edged up 0.3% to 26,277.4, with the Dow Jones Industrial Average up 0.3% to 52,663.4 and the S&P 500 higher by 0.4% to 7,571.1 ahead of Friday's close. All but two sectors, healthcare and energy, climbed intraday. Materials led the gainers.The CBOE Volatility Index, also known as the fear gauge, dropped 3.5% to 15.26.Talks between the US and Iran over a permanent peace deal are continuing, Bloomberg reported, citing an American official. The US is still committed to finding a diplomatic solution with Iran, the official told Bloomberg on Thursday. The official described the ongoing discussions as technical talks.A diplomat told CNN that Qatari negotiators have traveled to Iran to meet officials there. Qatari mediators are in touch with US officials, including the special envoys, Jared Kushner and Steve Witkoff, Middle Eastern broadcaster Al Jazeera reported. US Vice President JD Vance is also involved in the talks, the Al Jazeera report said.Iran had asked to continue talks, and the US had agreed, but the June ceasefire is "over," President Donald Trump said in a Truth Social post.The front-month global benchmark North Sea Brent slipped 0.2% to $76.13 a barrel, while the US West Texas Intermediate retreated 0.7% to $71.59 a barrel, extending declines from Thursday.In company news, SK Hynix (SKHY, SKHYV) jumped 13% after listing its American depositary receipts on Nasdaq, with trading volume exceeding 91 million.

Dow JonesNasdaq CompositeS&P 500$SKHY$SKHYV

US Markets41m ago

SK Hynix Shares Jump 14% in Nasdaq Debut

SK Hynix (SKHY, SKHYV) was rallying 14% on Friday as the South Korean chipmaker listed its American depositary shares on the Nasdaq in what will likely be the second-largest share sale in the US.SK Hynix opened trade at $170 and moved as high as $177, having priced its initial public offering of 177.9 million ADS at $149 apiece.Its US-listed shares were last trading at $169.68 under the symbol SKHYV, up 14% from the IPO price. The shares will switch to the SKHY ticker beginning Monday. Each ADS represents one-tenth of a common share of SK Hynix.The IPO, which would raise $26.51 billion, is expected to close on Tuesday, the company said. Last month, Space Exploration Technologies (SPCX) raised a record $85.7 billion in its IPO.SK Hynix's customers include some of the major technology names, such as Nvidia (NVDA) and Apple (AAPL), CNBC reported. The IPO was more than seven times oversubscribed, according to Bloomberg News.Baillie Gifford, Coatue Management and Situational Awareness Partners received approximately $5 billion in SK Hynix's ADRs, $2 billion short of their indicated maximum demand, Bloomberg News reported.The company's revenue for the quarter ended March 31 surged 198% annually to 52.576 trillion South Korean won ($34.51 billion) while earnings per share increased to 56,670 won from 11,411 won a year earlier.Price: $168.90, Change: $+19.90, Percent Change: +13.36%

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US Markets1h ago

Update: Equity Markets Rise Intraday as Traders Track Middle East Developments

(Updates with latest market prices and developments.)US benchmark equity indexes were higher intraday and oil prices dropped as traders tracked conflicting messaging around the Iran war.The S&P 500 and the Dow Jones Industrial Average were up 0.3% each at 7,565.9 and 52,635 after midday Friday. The Nasdaq Composite rose 0.2% to 26,264.7. Among sectors, materials paced the gainers, while healthcare saw the steepest decline.West Texas Intermediate crude oil was down 1.1% at $71.29 per barrel intraday, while Brent fell 0.6% to $75.83.US crude futures were on track for their first weekly advance following four consecutive weekly declines. Brent prices were headed for their second straight weekly rise.President Donald Trump said Friday that the US agreed to continue negotiations with Iran, although he reiterated that their ceasefire is over.Hostilities between the two countries resumed in recent days, weeks after they signed a memorandum of understanding to end their war.Qatari negotiators travelled to Iran, seeking to de-escalate the situation in a trip planned in coordination with the US, CNN reported Friday, citing a diplomat with knowledge of the visit."With oil prices softening following the mid-week spike, traders appear to view the latest tensions as a challenge to the ceasefire rather than a complete breakdown," Saxo Bank said in a report Friday. "Traffic through the Strait of Hormuz remains low, with no large commodity-laden vessels seen transiting."The International Energy Agency on Friday projected a smaller decline in global oil demand in 2026 amid signs of a rebound in consumption as crude flows improve.US Treasury yields were higher intraday, with the two-year rate up 4.4 basis points at 4.21% and the 10-year rate rising 2.4 basis points to 4.56%.In company news, SK Hynix (SKHY, SKHYV) American depositary shares opened trade at $170 in their debut on the Nasdaq Friday, and rose to as high as $177. The South Korean memory semiconductor company priced its initial public offering 177.9 million ADS at $149 apiece.Meta Platforms (META) jumped 5%, the top gainer on the S&P 500. The Facebook parent is aiming to start the production of artificial intelligence chips from September, Reuters reported Thursday, citing an internal memo.Gold slipped 0.6% to $4,114.60 per troy ounce, while silver lost 0.9% to $60.18 per ounce.

Dow JonesNasdaq CompositeS&P 500$META$SKHY$SKHYV

Asia Markets2h ago

Update: US Equity Indexes Rise, Crude Oil Extends Declines as Diplomatic Channels Reopen for Iran Talks

(Updates with index/price moves and company/geopolitical news from the first paragraph.)US equity indexes rose on a data-light Friday, while crude oil declined as Washington replaced air strikes on Iran with diplomatic engagements, an exercise President Donald Trump appears to have ordered as retribution for the Islamic Republic hitting maritime traffic in the Strait of Hormuz.The Nasdaq Composite edged up 0.2% to 26,266.3, with the Dow Jones Industrial Average up 0.3% to 52,622.8 and the S&P 500 higher by 0.3% to 7,566.4 after midday. All but three sectors, healthcare, energy, and real estate, advanced intraday. Materials led the gainers.The CBOE Volatility Index, also known as the fear gauge, dropped 3.6% to 15.27.Talks between the US and Iran over a permanent peace deal are continuing, Bloomberg reported, citing an American official. The US is still committed to finding a diplomatic solution with Iran, the official told Bloomberg on Thursday. The official described the ongoing discussions as technical talks.A diplomat told CNN that Qatari negotiators have traveled to Iran to meet officials there. Qatari mediators are in touch with US officials, including the special envoys, Jared Kushner and Steve Witkoff, Middle Eastern broadcaster Al Jazeera reported. US Vice President JD Vance is also involved in the talks, the Al Jazeera report said.Meanwhile, President Trump said Tehran and US agreed to continue talks, but he communicated to Iran that the ceasefire is "over," Al Jazeera reported, citing a social media post from the president.The front-month global benchmark North Sea Brent retreated 0.7% to $75.79 a barrel, while the US West Texas Intermediate dropped 1.1% to $71.27 a barrel, extending declines from Thursday.Most US Treasury yields rose, with the 10-year up 1.8 basis points to 4.56% and the two-year climbing four basis points to 4.2%.In precious metal markets, gold futures fell 0.4% to $4,124.4, and silver futures declined 0.7% to $60.34.The International Energy Agency on Friday projected a smaller decline in global oil demand in 2026 amid signs of a rebound in consumption as crude flows improve."A recovery in world oil demand is underway, with consumption set to rise from its May nadir on seasonal trends and as pent-up demand is released in line with a rebound in product supplies," the IEA said in its latest monthly oil market report. "The upswing in fuel use during the peak summer travel season is set to get an additional boost from the release of pent-up demand."In company news, SK Hynix (SKHY, SKHYV) said Friday that it has listed its American depositary receipts on Nasdaq. The company said in a regulatory filing Friday that it is offering 177.9 million American depositary shares at $149 apiece, potentially raising total proceeds of $26.51 billion.Shares of Meta Platforms (META) jumped 5%, the top gainer on the S&P 500 and the Nasdaq, after a Bloomberg report cited Chief Executive Mark Zuckerberg as saying the company is considering renting out some of its artificial intelligence compute as demand for AI infrastructure surges.

Dow JonesNasdaq CompositeS&P 500$META$SKHY$SKHYV

Japan3h ago

Update: US Equity Indexes Mixed in Midday Trading While Crude Oil Extends Declines

(Updates with index/price moves and company/geopolitical news from the first paragraph.)US equity indexes traded mixed on a data-light Friday, while crude oil fell as Washington said it remains committed to finding a diplomatic solution for Iran.The Nasdaq Composite was little changed at 26,203.7 after midday. The Dow Jones Industrial Average rose 0.2% to 52,609.9, and the S&P 500 edged up 0.1% to 7,553.7.All but three sectors, health care, technology, and real estate, advanced intraday. Materials led the gainers.Talks between the US and Iran over a permanent peace deal are continuing, Bloomberg reported, citing an American official, despite two days of clashes that threatened to shatter a ceasefire. The US is still committed to finding a diplomatic solution with Iran, the official told Bloomberg on Thursday. The official described the ongoing discussions as technical talks.The front-month global benchmark North Sea Brent retreated 0.9% to $75.59 a barrel, while the US West Texas Intermediate dropped 1.3% to $71.14 a barrel, extending declines from Thursday.In company news, SK Hynix (SKHY, SKHYV) said Friday that it has listed its American depositary receipts on Nasdaq. The company said in a regulatory filing Friday that it is offering 177.9 million American depositary shares at $149 apiece, potentially raising total proceeds of $26.51 billion.

Dow JonesNasdaq CompositeS&P 500$SKHY$SKHYV

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