Traders work at the New York Stock Exchange on June 29, 2026.
NYSE
The S&P 500 rose on Friday, bolstered by a couple Big Tech names, to notch a weekly gain.
The broad market index ended the day up 0.42% at 7,575.39, while the tech-heavy Nasdaq Composite added 0.29% to close at 26,281.61. The 30-stock Dow Jones Industrial Average increased 149.60 points, or 0.29%, to settle at 52,637.01.
Nvidia supported the S&P 500’s move higher, rising around 4%. Meta Platforms was another bright spot in tech, as the stock jumped about 6%. With a nearly 15% gain this week, it saw its best weekly performance since early 2024. That’s after Bank of America maintained its buy rating of the name and said an internal memo that was reviewed by Reuters suggests that Meta is potentially improving its artificial intelligence cost structure.
The S&P 500 recorded a more than 1% advance on the week. The Nasdaq also finished the period higher, notching a gain of more than 1%. The Dow, on the other hand, fell 0.5% this week.
South Korean chipmaker SK Hynix made its U.S. debut Friday, opening at $170 on the Nasdaq and last trading up roughly 13%. The American depository receipts of the company, which exploded higher this year on the massive demand for memory, were priced at $149 each. Some traders worry the new offering may compete for investor funds with U.S. memory stocks like Micron Technology.
Ahead of Friday’s debut, South Korean stocks led gains in the Asia-Pacific equity markets. The Kospi added 2.5% on Friday, while Japan’s Nikkei 225 closed 1.2% higher. Mainland China’s CSI 300 closed 1.96% lower, dragged by the technology and industrials sectors. Elsewhere, the pan-European Stoxx 600 index closed just above the flatline.
While chip stocks have seen some pressure recently, they’ve had a massive run-up this year. In 2026, Micron has already surged more than 200%. Lam Research, Marvell Technology and Intel have all more than doubled year to date.
“There’s been so much euphoria around the AI boom going all the way back to the summer of 2023,” said Eric Parnell, chief market strategist at Great Valley Advisor Group. “We’re clearly in a boom phase right now, but I do have genuine concerns about some sort of bust coming in the second half of the year.”
The moves come after U.S. stocks rallied on Thursday, aided by cooling oil prices after President Donald Trump said that Iran called to make a deal. Qatar and Pakistan are trying to bring Washington and Tehran back into negotiations, officials from the countries told MS Now.
An administration official said the two sides will continue “technical talks” even following air attacks from both sides, MS Now reported Thursday, adding that the U.S. is committed to finding a solution to the Middle East conflict.
Trump had said earlier this week that the ceasefire between the U.S. and Iran was over.
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