SK Hynix landed on the U.S. stock market, rising nearly 13% on the first day
On July 10, Eastern Time, the three major U.S. stock indexes collectively closed higher. As of the close, the Dow rose 0.29%, the Nasdaq rose 0.29%, and the S&P 500 rose 0.42%. This week, the Dow fell 0.50%, the Nasdaq rose 1.74%, and the S&P 500 rose 1.23%.
On July 10, Eastern Time, the three major U.S. stock indexes collectively closed higher. As of the close, the Dow rose 0.29%, the Nasdaq rose 0.29%, and the S&P 500 rose 0.42%. This week, the Dow fell 0.50%, the Nasdaq rose 1.74%, and the S&P 500 rose 1.23%. As the focus of the market, SK Hynix officially landed on Nasdaq in the form of American depositary receipts. The issue price was set at US$149 per share. The opening price on the first day of listing was US$170. It once touched US$177 during the session and finally closed up 12.76%, corresponding to a market value of US$1.22 trillion. On Friday local time, Apple sued OpenAI for stealing trade secrets, accusing the company of systematically obtaining and using Apple's confidential information through former employees, recruitment methods and supplier relationships to help it accelerate its entry into the consumer hardware business. SK Hynix closed up 12.76% on its first day of listing in the US On July 10, Eastern Time, the three major U.S. stock indexes continued their gains. As of the close, the Dow Jones Industrial Average rose 149.60 points to close at 52637.01 points, an increase of 0.29%; the Nasdaq Index rose 74.72 points to close at 26281.61 points, an increase of 0.29%; the S&P 500 Index rose 31.75 points to close at 7575.39 points, an increase of 0.42%. This week, the Dow fell 0.50%, the Nasdaq rose 1.74%, and the S&P 500 rose 1.23%. As the focus of the market, SK Hynix officially landed on Nasdaq in the form of American depositary receipts, closing up 12.76% on the first day, corresponding to a market value of US$1.22 trillion. At the same time, Micron Technology closed down 1.24% on the day, with a market value of US$1.11 trillion. Chey Tae-won, chairman of South Korea's SK Group, said in an interview with the media on Friday that SK Hynix is willing to issue more shares in the U.S. market in the future if the investment returns perform well and the stock price remains stable. Cui Taiyuan also mentioned that the company can provide memory as a service to help solve the memory bottleneck problem related to artificial intelligence. SK Hynix CEO Kwak Noh-jung also said on Friday that the company's analysis shows that the memory shortage may continue beyond 2030. AI trading returns to the main line. Meta rose by about 6% in a single day, and its cumulative increase this week exceeded 14%. Recently, the research organization SemiAnalysis stated in its latest report that building a large model that is truly at the forefront of the world requires three major elements: data, talent, and computing power. The agency believes that Meta is expected to surpass Google in the next six months and join the first echelon of cutting-edge AI, forming a "three-legged confrontation" with OpenAI and Anthropic. Memory chips strengthened, with SanDisk rising 3.10%, Seagate Technology rising 2.78%, and Western Digital rising 0.78%. The trends of large technology stocks were divergent. Nvidia rose 4.03% and its market value returned to US$5 trillion. Apple, Google and Amazon fell slightly. The Philadelphia Semiconductor Index bottomed out and fell 0.06%, AMD and Applied Materials rose more than 2%, and Marvell Technology fell more than 3%. Popular Chinese concept stocks had mixed gains and losses, with the Nasdaq China Golden Dragon Index closing down 0.23% and rising 3.53% this week. As of the close, Alibaba rose 1.07%, Pinduoduo fell 0.87%, NetEase fell 4.39%, JD.com rose 1.66%, Baidu rose 0.02%, Ctrip rose 3.31%, Li Auto rose 1.6%, Bilibili fell 0.78%, and NIO rose 0.1%. The Federal Reserve releases its semi-annual Monetary Policy Report On Friday local time, the Federal Reserve released its semi-annual Monetary Policy Report. This report is the first report by the new Federal Reserve Chairman Kevin Warsh since he took office, and is also the debriefing material Warsh will submit to Congress for a hearing next week. The report noted that inflation has increased over the past year. But other measures of inflation, including the so-called "truncated mean" measure, have fallen over the past year. The report also specifically added a note on this indicator: "The trimmed average inflation indicator is usually a better predictor of future overall inflation trends than the core PCE, but it may also give misleading signals when the distribution structure of price changes changes."
This observation is consistent with Warsh's previous view that policymakers need to broaden their focus on inflation measures. The Fed has established five working groups led by outside experts, including one to explore an inflation framework. The report notes that price stability is critical to a sound and stable economy, and the Committee is prepared to take strong action to ensure that long-term inflation expectations remain stable. The latest report points out that the boom in artificial intelligence is affecting the economy, and businesses adopting new technologies may increase productivity. But the report also highlights that consumer prices for computers, electronics and software have soared this year, reflecting new demand for semiconductors and other materials related to building artificial intelligence. The report also included an analysis of Fed policymakers' forecast record, finding that those forecasts were affected by uncertainty — a conclusion consistent with Warsh's call for less forward guidance. Apple sues OpenAI for stealing trade secrets On Friday local time, Apple sued OpenAI for stealing trade secrets, accusing the company of systematically obtaining and using Apple's confidential information to help it accelerate its entry into the consumer hardware business. In the lawsuit, Apple requires OpenAI to stop such practices and destroy all confidential materials, while redesigning upcoming products to ensure that they do not contain any Apple technology. The lawsuit also names two former Apple employees. Among them, Tang Tan, chief hardware officer of OpenAI, was separately named as a defendant. He once served as Apple's vice president of product design and was responsible for leading the design of iPhone, smart watches, AirPods and other products. The other is Chang Liu, Apple’s former senior system electrical engineer, who switched jobs to join OpenAI in January this year. OpenAI, which plans an initial public offering (IPO) in the coming months, has already poached a number of employees from Apple. According to the lawsuit, more than 400 former Apple employees have joined OpenAI. (
This observation is consistent with Warsh's previous view that policymakers need to broaden their focus on inflation measures. The Fed has established five working groups led by outside experts, including one to explore an inflation framework. The report notes that price stability is critical to a sound and stable economy, and the Committee is prepared to take strong action to ensure that long-term inflation expectations remain stable. The latest report points out that the boom in artificial intelligence is affecting the economy, and businesses adopting new technologies may increase productivity. But the report also highlights that consumer prices for computers, electronics and software have soared this year, reflecting new demand for semiconductors and other materials related to building artificial intelligence. The report also included an analysis of Fed policymakers' forecast record, finding that those forecasts were affected by uncertainty — a conclusion consistent with Warsh's call for less forward guidance. Apple sues OpenAI for stealing trade secrets On Friday local time, Apple sued OpenAI for stealing trade secrets, accusing the company of systematically obtaining and using Apple's confidential information to help it accelerate its entry into the consumer hardware business. In the lawsuit, Apple requires OpenAI to stop such practices and destroy all confidential materials, while redesigning upcoming products to ensure that they do not contain any Apple technology. The lawsuit also names two former Apple employees. Among them, Tang Tan, chief hardware officer of OpenAI, was separately named as a defendant. He once served as Apple's vice president of product design and was responsible for leading the design of iPhone, smart watches, AirPods and other products. The other is Chang Liu, Apple’s former senior system electrical engineer, who switched jobs to join OpenAI in January this year. OpenAI, which plans an initial public offering (IPO) in the coming months, has already poached a number of employees from Apple. According to the lawsuit, more than 400 former Apple employees have joined OpenAI. (