Stocks Rise Before Earnings as SK Hynix to Debut: Markets Wrap
(Bloomberg) — Wall Street traders drove stocks higher in the countdown to the earnings season, with the market also getting ready for SK Hynix Inc.’s debut after a blockbuster share sale.
In the final stretch of a week of gains for equities, the S&P 500 edged up. While most of its companies rose, semiconductor firms lost steam after a solid run. American depositary receipts of the giant South Korean memory chipmaker are indicated to open 17% above their offering price after it raised $26.5 billion in the largest-ever US listing by a foreign company.
Oil steadied as talks between the US and Iran over a permanent peace deal are continuing, according to a American official, despite two days of clashes that threatened to shatter an already fragile ceasefire. The comments are likely to ease fears of a return to all-out war.
“The muted stock market reaction to the re-escalation of Iran tensions this week is prime evidence that the market is looking past geopolitical tensions,” said Clark Bellin at Bellwether Wealth. “While the stock market is gearing up for another strong earnings season, expectations are higher.”
This earnings season is about justifying the premium valuations investors have already assigned to these companies, according to Kenny Polcari at SlateStone Wealth.
“The street has priced in exceptional earnings growth, and now management teams have to prove those expectations were warranted,” he said.
Corporate Highlights:
Delta Air Lines Inc. reaffirmed its full-year profit guidance and said strong demand for premium, corporate and international travel helped offset the highest quarterly fuel expense in its history. Boeing Co. formally opened its fourth 737 Max assembly line near Seattle on Friday, as the US planemaker looks to cash in on its growing backlog, though output from the factory will initially be at a low rate. EasyJet Plc received a fresh offer from private equity firm Apollo Global Management for 715 pence a share that beats a rival proposal from Castlelake LP, a surprise twist in the takeover saga that sets up a possible bidding war between the two US investment funds. Circle Internet Group Inc. received approval to start a national digital-currency trust bank to support its stablecoin business, widening its remit to include institutional custody services while consolidating oversight under a single federal trust charter. Some of the main moves in markets:
Stocks
The S&P 500 rose 0.2% as of 10:02 a.m. New York time The Nasdaq 100 was little changed The Dow Jones Industrial Average rose 0.1% The Stoxx Europe 600 rose 0.2% The MSCI World Index rose 0.2% Philadelphia Stock Exchange Semiconductor Index fell 0.6% Currencies
The Bloomberg Dollar Spot Index was little changed The euro fell 0.1% to $1.1418 The British pound was little changed at $1.3403 The Japanese yen rose 0.4% to 161.79 per dollar Cryptocurrencies
Bitcoin rose 1.9% to $64,460.5 Ether rose 3.2% to $1,803.08 Bonds
The yield on 10-year Treasuries was little changed at 4.55% Germany’s 10-year yield declined one basis point to 3.07% Britain’s 10-year yield declined one basis point to 4.88% Commodities
West Texas Intermediate crude fell 0.6% to $71.63 a barrel Spot gold fell 0.6% to $4,100.78 an ounce ©2026 Bloomberg L.P.
