New Delhi: US stock markets traded in a narrow range on Friday, with the Dow Jones Industrial Average and Nasdaq remaining largely flat as investors assessed fresh corporate developments, while the S&P 500 stayed on course to post another weekly gain.
The Dow Jones Industrial Average rose over 120 points, or about 0.23%, while the S&P 500 gained around 0.13%. The Nasdaq also hovered near the flatline as investors awaited the upcoming earnings season and monitored developments across the technology sector.
A key highlight of the session was the Wall Street debut of South Korean memory chip giant SK Hynix. The company’s American depositary shares surged in their first trading session, reflecting strong investor appetite for artificial intelligence-related semiconductor companies. The listing marked one of the biggest foreign stock market debuts in the US and reinforced optimism surrounding AI infrastructure spending.
The successful debut also triggered a wave of interest in exchange-traded funds linked to the chipmaker, as investors looked to capitalise on the growing demand for high-bandwidth memory chips used in advanced AI systems.
Despite the positive sentiment around AI stocks, trading across the broader semiconductor sector remained mixed. While Nvidia extended gains, several memory-related companies witnessed profit booking as investors rotated between AI beneficiaries.
Investor focus is gradually shifting towards the upcoming quarterly earnings season, which is expected to provide clearer signals about corporate profitability amid elevated market valuations and ongoing geopolitical uncertainties. Analysts are also closely monitoring developments in interest rates, inflation and global economic growth.
The S&P 500 is on track to register another weekly advance, supported by resilient corporate earnings expectations and continued enthusiasm around artificial intelligence-related companies. Meanwhile, easing concerns over oil prices also helped improve investor sentiment during the session.
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