Dow Rises as S&P 500 Nears Record; SK Hynix Boosts Chips

U.S. stock indexes closed higher on Friday as the S&P 500 finished just shy of a record and investors prepared for the start of second‑quarter earnings next week. The Dow Jones Industrial Average added 148.28 points to 52,635.69. The S&P 500 rose 0.38% to 7,572.36 and the Nasdaq Composite increased 0.25% to 26,273.21. For the week the S&P finished roughly 1% higher and the Nasdaq rose more than 1%; the Dow ended the week slightly lower.

SK Hynix’s Nasdaq listing supported semiconductor shares. The South Korean memory‑chip maker opened on Nasdaq near $170, about 14% above its American depositary receipt offering price of $149, after raising more than $26 billion in one of the largest share sales on record. The listing lifted investor demand for memory‑chip names amid recent sector volatility.

Large technology stocks contributed to gains. Nvidia advanced more than 3% and Meta Platforms climbed about 6%. Chipmakers remain among the top performers this year: Micron Technology has gained more than 200% in 2026, while Lam Research, Marvell Technology and Intel have each more than doubled year to date.

Developments in the Middle East were monitored for their potential effect on energy prices and inflation after renewed military exchanges between the United States and Iran earlier in the week. President Donald Trump stated Iran had requested to continue negotiations and that the United States had agreed, while also saying the June ceasefire was over. Officials from Qatar and Pakistan are working to facilitate talks, and U.S. officials indicated technical discussions would continue despite recent actions. Oil prices eased after those diplomatic signals.

Analysts and investors are awaiting corporate results due to start next week, when major U.S. banks will report. LSEG I/B/E/S data show S&P 500 earnings are expected to rise about 24% from a year earlier for the quarter, with much of the growth concentrated in technology companies. The S&P 500’s forward price‑to‑earnings ratio eased to around 20 times expected earnings from about 21 times in late May.

International markets were mixed on Friday. South Korea’s Kospi gained 2.5% and Japan’s Nikkei 225 rose 1.2%, while China’s CSI 300 fell 1.96% on weakness in technology and industrial stocks. Europe’s Stoxx 600 closed largely unchanged. Market participants will also watch next week’s U.S. inflation report and testimony by Federal Reserve Chair Kevin Warsh before the House Committee on Financial Services for further signals on the interest rate outlook.