[Global Finance] SK Hynix rose significantly after landing on Nasdaq. The three major stock indexes in the New York stock market all rose for the 10 th day
Xinhua Finance, New York, July 10 (Reporter Liu Yanan) As the market's concerns about conflicts in the Middle East were eased and SK Hynix rose significantly after its listing on the Nasdaq exchange, the three major stock indexes of the New York stock market rose on the 10th.
Xinhua Finance, New York, July 10 (Reporter Liu Yanan) As the market's concerns about conflicts in the Middle East were eased and SK Hynix rose significantly after its listing on the Nasdaq exchange, the three major stock indexes of the New York stock market rose on the 10th. As of the close of the day, the Dow Jones Industrial Average rose 149.60 points from the previous trading day to close at 52637.01 points, an increase of 0.29%; the S&P 500 stock index rose 31.75 points to close at 7575.39 points, an increase of 0.42%; the Nasdaq Composite Index rose 74.72 points to close at 26281.61 points, an increase of 0.29%. In terms of sectors, ten of the eleven major sectors of the S&P 500 index rose and one fell. The materials sector and communication services sector led the gains with gains of 1.12% and 0.92% respectively, while the medical sector fell 0.81%. Jerry Chen, a senior analyst at the foreign exchange brokerage Jiaqiang Group, said that despite the recent high fluctuations in U.S. stocks, the AI bull market is not over yet. The financial reports of technology stocks in late July may bring new growth opportunities to the three major indexes. Wall Street expects the S&P 500's third-quarter net profit to increase by 24% year-on-year. Christopher Wood, an analyst at Jefferies Group, an American investment bank, said on the 9th that although the market is experiencing some artificial intelligence-related fatigue, chip companies are expected to continue to rise and the outlook for computing power demand has not begun to decline. The Federal Reserve's semi-annual report submitted to Congress on the 10th stated that U.S. inflation has risen further this spring due to the impact of tariffs, higher energy costs driven by conflicts in the Middle East, and a wave of artificial intelligence construction that has pushed up price pressures since last year. The report stated that the job market has stabilized, demand and supply are generally balanced, and the unemployment rate of 4.2% in June remains low. A significant reduction in immigration and a continued decline in the labor force participation rate due to aging have led to slower labor supply growth. On the same day, international oil prices fell slightly, indicating that market concerns about renewed conflicts in the Middle East had been alleviated and market sentiment was supported. In terms of individual stocks, South Korean memory chip company SK Hynix raised US$26.5 billion in the US market and landed on Nasdaq on the 10th. The company's stock price opened at US$170 per American Depository Receipt that day and closed at US$168.01, a significant increase of 12.76% from the pricing of US$149. Nvidia's stock price rose significantly by 4.03% that day, the stock price of "Yuan" Platform Company rose significantly by 5.97% due to the potential for improving the cost structure of artificial intelligence, and the stock price of Space Exploration Technology Company fell significantly by 4.51% that day, closing at $145.3 per share. Stable currency issuer Circle Internet Group received approval from U.S. regulators to become a trust bank on the 10th. Its stock price opened sharply higher that day, then gave up the gains and closed up 4.97%. (