NEW YORK – U.S. stocks edged higher Friday as investors continued to favor companies benefiting from the artificial intelligence boom, helping Wall Street finish another week of gains despite lingering concerns about valuations and geopolitical risks.
The S&P 500 rose 0.4% to close at 7,575.39, marking its fourth weekly gain in the past five weeks. The Dow Jones Industrial Average added 149.60 points, or 0.3%, to finish at 52,367.01, while the Nasdaq Composite advanced 0.3% to 26,281.61.
Technology shares remained a key driver of the market’s performance as investors maintained confidence in companies tied to AI infrastructure and semiconductor demand.
AI leaders continue to attract investors
South Korean memory chipmaker SK Hynix made a strong debut on the Nasdaq after raising about $26.5 billion through the sale of American depositary shares priced at $149 each.
The stock surged 13.1% by the close of trading after beginning trading around midday.
Shares of SK Hynix listed in Seoul have climbed 634% over the past year as demand for advanced memory chips used in artificial intelligence systems has accelerated.
The rapid rise of AI-related stocks has generated substantial profits for semiconductor companies but has also fueled debate over whether valuations have outpaced the industry’s long-term earnings potential. Investors continue to weigh whether massive spending on chips and data centers will ultimately produce sufficient productivity gains and corporate profits.
Nvidia provided the biggest boost to the S&P 500 on Friday, climbing 4% as enthusiasm for AI investments remained strong.
Earnings season becomes the next market focus
Attention is increasingly shifting toward the upcoming corporate earnings season, with investors looking for evidence that company profits can support stock prices that remain near record highs.
Delta Air Lines reported quarterly profit and revenue that exceeded analysts’ expectations, saying strong travel demand—including from business customers—helped offset higher fuel costs during the April-to-June quarter.
The airline also issued a summer profit outlook whose midpoint topped analysts’ forecasts.
Despite the results, Delta shares fell 1.8% after entering Friday with a year-to-date gain of 28.2%.
Several of the nation’s largest financial institutions are scheduled to report quarterly results next week, including Bank of America, Citigroup, JPMorgan Chase, Goldman Sachs and Wells Fargo, with multiple earnings releases expected on Tuesday.
Circle and WD-40 post notable gains
Circle Internet Group gained 5% after announcing it had received U.S. regulatory approval to establish a bank operating as Circle National Trust.
Chief Executive Officer Jeremy Allaire said the approval “marks a defining step in bringing blockchain technology and digital assets into the core of the U.S. financial system.”
WD-40 shares jumped 10.6% after the company reported quarterly profit that exceeded analysts’ expectations.
Oil eases as markets monitor Middle East tensions
Oil prices retreated slightly after earlier gains driven by concerns over potential disruptions to global crude supplies stemming from the conflict involving Iran.
Brent crude, the international benchmark, fell 0.4% to $76.01 per barrel. Although the price remained above the roughly $72 level seen at the start of the week, it stayed well below previous conflict-driven highs approaching $120 per barrel.
Investors continue to monitor the possibility that prolonged fighting could disrupt shipping through the Strait of Hormuz, a vital route for global oil exports.
President Donald Trump said on social media that the United States had agreed to continue talks with Iran while also stating that “the Cease Fire is OVER!”
Treasury yields edge higher
U.S. Treasury yields rose modestly, reflecting ongoing concerns about inflation and energy prices.
The yield on the benchmark 10-year Treasury note increased to 4.56% from 4.54% on Thursday.
Higher bond yields have weighed on global financial markets because they can increase borrowing costs and raise expectations that the Federal Reserve and other central banks may keep interest rates elevated or tighten monetary policy further if inflation remains persistent.
Global markets mixed
Stock market performance outside the United States was mixed.
South Korea’s Kospi index climbed 2.5%, while Japan’s Nikkei 225 advanced 1.2%. In contrast, Shanghai’s main stock index declined 1%.
This report is based on reporting by The Associated Press.
Article Topics: U.S. Stocks | Wall Street | Artificial Intelligence | Nvidia | SK Hynix | Corporate Earnings | Financial Markets
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