Wall Street Today: DJIA, S&P 500, Nasdaq Comp Rise on SK Hynix's Strong Debut and META, NVDA Gains

The Dow-30, S&P 500 and Nasdaq Composite all rose Friday as South Korean semiconductor giant SK Hynix's well-received U.S. debut boosted Wall Street, which also saw Meta, Nvidia, Sandisk, Nebius and other Big Techs rise.

The $S&P 500 Index (.SPX.US)$ gained 31.75 points (0.4%) to a 7,575.39 close, while the $Dow Jones Industrial Average (.DJI.US)$ added 149.60 ticks (0.3%) to 52,637.01 and the $Nasdaq Composite Index (.IXIC.US)$ rose 74.72 points (0.3%) to 26,281.61.

The three indexes rose in part on a positive vibe for stocks that stemmed from the premiere of $SK hynix (SKHY.US)$ on the Nasdaq Composite.

The South Korean tech firm, which has long listed in Seoul, joined Wall Street at $149 a share after raising $26.5 million through U.S. stock sales.

Shares quickly rose following the stock's debut, with SKHYV rising 12.8% to $168.01. (SK Hynix will switch to the ticker $SK hynix (SKHY.US)$ on Monday.)

Enthusiasm for SK Hynix spilled over into other Big Techs.

Winners included $Meta Platforms (META.US)$, which gained 6% in a second day of strong gains on a Reuters report that the firm's in-house Iris AI chip will enter mass production in September. Reuters also said Meta plans double data-center capacity to 14 gigawatts in 2027.

Other tech gainers included $NVIDIA (NVDA.US)$ (4% better), $SanDisk (SNDK.US)$ (up 3.1%), $Lumentum (LITE.US)$ (2.1% stronger), $Advanced Micro Devices (AMD.US)$ (which added 2%) and $NEBIUS (NBIS.US)$ (1.6% firmer).

That offset losses by other tech stocks, some of which apparently eased on the theory that Sk Hynix will draw investor dollars away from other chip/semiconductor/infrastrcture stocks.

Friday's noteworthy Big Tech decliners included $Nokia Oyj (NOK.US)$ (off 3.6%), $Marvell Technology (MRVL.US)$ (3% lower), $Intel (INTC.US)$(which shed 2.4%), $Oracle (ORCL.US)$ (2.1% weaker) and $Micron Technology (MU.US)$ (down 1.2%).

Moo-vers

The "Magnificent Seven" stocks ended Friday mixed, only partly following the broader market's lead.

Four Mag-7 names rose, led by $Meta Platforms (META.US)$ and $NVIDIA (NVDA.US)$ with their aforementioned gains of 6% and 4%, respectively.

$Tesla (TSLA.US)$(up 0.3%) and $Microsoft (MSFT.US)$ (0.2% better) rose by lesser amounts.

Meanwhile, Mag-7 stocks to fall included $Amazon (AMZN.US)$ (down 0.7%), $Alphabet-A (GOOGL.US)$ (0.5% lower) and $Apple (AAPL.US)$(which gave back 0.3%).

Beyond the Mag-7, Friday's significant percentage decliners included:

-- $Bloom Energy (BE.US)$, which lost 4.8%. The fuel-cell firm has given back 30.4% since hitting an all-time high on June 25. Short-seller Hunterbrook also issued a negative report about the stock on Thursday.

-- Select U.S. space stocks, which fell on word that China's state-owned space contractor successfully recovered a carrier rocket's first stage during a test launch, putting it closer to SpaceX's capabilities. $SpaceX (SPCX.US)$ lost 4.5% on the news, while $Rocket Lab (RKLB.US)$ shed 1.8%.

Conversely, Friday's major percentage winners included:

-- $Circle (CRCL.US)$, which added 5%. The stablecoin firm rallied on word that it won U.S. regulatory approval to open its own national bank. $Coinbase (COIN.US)$, which is one of the largest distributors of Circle's $USD Coin (USDC.CC)$ stablecoin, gained 0.4% in apparent sympathy.

Disclaimer: This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Indexes are unmanaged and cannot be directly invested in. Past performance is no indication of future results. Investing involves risk and the potential to lose principal. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors' financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information regarding your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal.

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