The S&P 500 rose to end just short of a record high on Friday, as a blockbuster Nasdaq debut of South Korea's SK Hynix fueled optimism about memory-chip makers, while investors looked ahead to quarterly earnings season kicking off next week.
The artificial intelligence trade returned to the spotlight after SK Hynix opened 14% above its offering price at $170 in a high-profile U.S. listing. The semiconductor company raised over $26 billion on Thursday by selling American Depositary Receipts priced at $149 each. U.S. stocks added to gains after U.S. President Donald Trump said that Iran had asked to continue talks and the U.S. had agreed, but that the June ceasefire was "over."
