Yen Stabilizes After Intervention Slide as Australian Dollar Hits Eight-Week High 
Gold Prices Rise as Fed Rate Hike Bets Ease 
Canada, US Hold Fresh Trade Talks as August 19 Tariff Deadline Nears 
Asian Stocks Rise as AI Chip Rally Lifts South Korea, Japan 
Australia Housing Crisis Deepens as Worker Shortages Delay Homebuilding 
Goldman Sachs Sees US Stock Buybacks Outpacing Equity Issuance as AI Funding Rises 
European Stocks Flat as Oil Prices Rise, US CPI in Focus 
KOSPI Rebounds 20% as Samsung, SK Hynix Lead South Korea Stock Rally 
S&P 500, Nasdaq Slip as Oil Jumps on Iran Tensions 
UK Retail Sales Rise as World Cup and Heatwave Boost Food, Pubs and Clothing 
Wall Street Slips as Oil Prices Surge 5% on Iran-Hormuz Uncertainty 
Gold Price Hits Two-Month High as Investors Await US Inflation Data 
Asian Currencies Steady Ahead of US CPI as Oil Prices Rise 
Asian Currencies Steady as Markets Await U.S. Inflation Data 
Singapore Raises 2026 GDP Growth Forecast as AI Demand Fuels Economy 
Australia Sets New Minimum Pay, Insurance Rules for Gig Workers 
England Drought Expands to 71% as Heatwave Deepens Water Crisis 
Wall Street ended higher on Friday, led by the blockbuster Nasdaq debut of South Korean memory chip giant SK Hynix, while investors largely shrugged off renewed U.S.-Iran tensions and shifted their attention to next week’s key U.S. inflation reports.
The S&P 500 gained 0.4% to close at 7,573.79, the Nasdaq Composite advanced 0.3% to 26,281.61, and the Dow Jones Industrial Average added 0.3% to 52,637.09. For the week, the S&P 500 rose 1.2%, the Nasdaq climbed 1.7%, while the Dow slipped 0.5%.
SK Hynix made history with the largest U.S. listing ever by a foreign company, raising $26.5 billion after pricing its American depositary shares at $149. The stock opened at $170 and finished 12.8% higher at $168.01. The company is a global leader in DRAM and high-bandwidth memory (HBM) chips, which are in high demand for artificial intelligence applications. Nvidia, one of SK Hynix’s biggest HBM customers, gained 4%, while rival Micron Technology fell 1.2%.
Analysts said SK Hynix’s successful debut dominated market sentiment. Interactive Brokers chief strategist Steve Sosnick noted that investors remained largely unfazed by President Donald Trump’s remarks that the ceasefire with Iran was over, focusing instead on continued diplomatic talks between Washington and Tehran.
Geopolitical tensions escalated after U.S. strikes on Iranian military targets prompted retaliatory attacks on U.S. bases. However, mediation efforts by Oman and Pakistan helped reassure investors that both sides remain open to negotiations, easing concerns about a broader regional conflict.
Attention is now turning to June’s U.S. Consumer Price Index (CPI) on Tuesday and Producer Price Index (PPI) on Wednesday. Economists expect inflation pressures to moderate following a decline in gasoline prices, although food costs may remain elevated. Federal Reserve officials continue to monitor inflation risks tied to tariffs, AI-driven demand, and Middle East developments.
Among individual stocks, Meta Platforms surged 6% after unveiling a new AI model, introducing a paid developer strategy, and reports that it plans to begin production of a custom AI chip in September while significantly expanding its computing infrastructure. Delta Air Lines slipped 1.8% despite reporting quarterly earnings above expectations, as investors remained concerned about higher fuel costs.
