US stocks opened mixed on Friday as investors turned their attention to a historic Wall Street debut. SK Hynix, the South Korean memory chip maker, listed on the Nasdaq after raising $26.5 billion in its US share offering.
That figure makes it the largest US listing ever by a foreign company. SK Hynix is a key supplier to Nvidia, and markets were watching the debut closely as a gauge of appetite for AI-related stocks.
The Dow Jones Industrial Average gained around 0.1% at the open. The S&P 500 traded roughly flat, while the tech-heavy Nasdaq Composite slipped 0.2%.
Chip stocks broadly fell ahead of the SK Hynix listing. Investors appeared cautious before the debut rather than confident, putting mild pressure on the tech sector.
Oil markets stayed unsettled as developments in the Middle East continued to draw attention. The US and Iran carried out their heaviest attacks since a ceasefire agreement was signed, raising fresh concerns about regional stability.
West Texas Intermediate crude futures hovered near $72 a barrel. Brent crude, the international benchmark, traded above $76 a barrel.
Traffic through the Strait of Hormuz, a key shipping route for global oil supply, slowed again. Analysts have noted that markets have largely adapted to disruptions there, but the slowdown continued to keep a floor under prices.
Oil futures were down slightly on the day, with West Texas Intermediate off around 0.4%.
Delta Air Lines reported second-quarter results that beat Wall Street’s earnings estimates. The airline also reinstated its full-year guidance, a sign of confidence in its business outlook.
Despite the beat, Delta’s stock fell on the day. The airline reported high fuel costs in the quarter, which weighed on investor sentiment even as its premium business helped offset the pressure.
Delta’s results added a corporate earnings angle to a busy trading session. The mix of a historic IPO, geopolitical risk, and a major airline report gave investors a lot to process on Friday morning.
The SK Hynix listing remained the headline event of the day. Whether the stock’s performance on its first day of US trading would boost or dampen broader enthusiasm for AI-linked names was the key question heading into the afternoon session.
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