U.S. stocks rose on Friday as Wall Street’s interest in artificial intelligence winners continued to drive market activity. The S&P 500 climbed 0.4% to 7,575.39, marking its fourth winning week in the last five. The Dow Jones Industrial Average added 149.60 points to close at 52,367.01, while the Nasdaq composite rose 74.72 points to 26,281.61.
AI Market Trends and Debuts
Nvidia served as a significant driver for the S&P 500, rising 4% during the session. Meanwhile, South Korean memory chip manufacturer SK Hynix made a strong Nasdaq debut. After raising approximately $26.5 billion by selling American depositary shares at $149 each, the stock jumped 13.1% by the end of the day. While surging demand for computer memory has bolstered profits, some investors remain concerned that high valuations for AI-related stocks may not be supported by future productivity and profit growth.
Corporate Earnings and Regulatory News
Wall Street is currently shifting its focus toward the upcoming spring earnings season. Delta Air Lines reported profit and revenue that exceeded analyst expectations, citing strong demand from corporate travelers, though its stock fell 1.8% on the day. WD-40 also saw its stock jump 10.6% following a quarterly profit report that topped expectations.
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In other market news, Circle Internet Group rose 5% after receiving U.S. regulatory approval to operate as a bank under the name Circle National Trust. CEO Jeremy Allaire stated that the move represents a defining step in integrating blockchain technology and digital assets into the U.S. financial system.
Bond Yields and Commodities
Treasury yields ticked higher, with the 10-year Treasury yield rising to 4.56% from 4.54% late Thursday. Rising yields, influenced by inflation concerns and oil prices, continue to be a point of pressure for global financial markets. International Brent crude oil dipped 0.4% to $76.01 per barrel, as markets monitor potential disruptions to global oil flows amid conflict in the Middle East.
