New York stock market rises for a second straight day... SK hynix soars 13%
- Input
- 2026-07-11 05:31:48
- Updated
- 2026-07-11 05:31:48
The New York stock market extended its gains on the 10th local time. SK hynix's American Depositary Receipt (ADR), which began trading that day, surged 13%.
Big Tech stocks were mixed, and semiconductors were generally weak except for SK hynix and NVIDIA.
Investor sentiment improved after U.S. President Donald Trump said the ceasefire with Iran was over, but that both sides had agreed to continue talks.
Continued gains
The three major indexes rose for a second consecutive day.
The Dow Jones Industrial Average closed at 52,637.01, up 149.60 points, or 0.29%, from the previous session, while the Standard & Poor's 500 rose 31.75 points, or 0.42%, to 7,575.39.
The Nasdaq ended the session at 26,281.61, up 74.72 points, or 0.29%.
On a weekly basis, the market showed a mixed picture.
The Dow, made up of 30 blue-chip stocks, fell 0.50%.
However, the tech-heavy S&P 500 and Nasdaq posted weekly gains of 1.23% and 1.74%, respectively.
The Cboe Volatility Index (VIX), known as Wall Street's fear gauge, fell 0.82 points, or 5.18%, to 15.02.
Semiconductors struggle despite SK hynix's 13% surge
SK hynix, which entered Nasdaq through an ADR listing, started trading at $170 and closed at $168.01. That was 12.76% above the offering price of $149.
At one point during the session, SK hynix climbed to $177, or 18.8% above the offering price, but it gave back some of those gains and ended its first trade with a 13% surge.
SK hynix raised $26.5 billion through the offering.
As SK hynix made its Nasdaq debut, U.S. chipmakers struggled amid a shift in capital toward the Korean company.
Intel fell $2.70, or 2.40%, to $109.84, while memory rival Micron dropped $12.95, or 1.31%, to $978.69.
By contrast, AMD closed at $557.99, up $11.27, or 2.06%.
The iShares Semiconductor ETF (SOXX) slipped $0.43, or 0.07%, to $581.27, ending slightly lower.
NVIDIA jumps 4%
Big Tech stocks were mixed, with market leader NVIDIA surging 4%.
NVIDIA jumped $8.15, or 4.02%, to $210.93, while Tesla rose $1.21, or 0.30%, to $407.76.
Meta Platforms, which has been strengthening its artificial intelligence strategy, surged $37.83, or 5.99%, to $669.31, and Microsoft closed at $385.10, up $0.74, or 0.19%.
By contrast, SpaceX plunged $6.86, or 4.51%, to $145.30. That is still 7.6% above the offering price of $135, but 3.1% below the opening price of $150 on its first day of trading last month.
Palantir Technologies fell $2.25, or 1.74%, to $126.79.
dympna@fnnews.com Song Kyung-jae Reporter