CNBC — 2026-07-10#
Lead Story#
South Korean memory chip giant SK Hynix made a massive splash on the Nasdaq Friday, opening at $170 after pricing its American depositary receipts at $149 to raise $26.5 billion. The $1 trillion company’s highly anticipated U.S. listing has sent shockwaves through the semiconductor sector, sparking a real-time capital rotation out of domestic rivals like Micron.
Markets & Economics#
Markets are experiencing a notable disconnect, with the S&P 500 up nearly 10% in the first half of the year driven heavily by AI enthusiasm, while underlying GDP growth remains a tepid 1.9%. In the energy sector, global oil demand is projected to decline by 1 million barrels per day in 2026 for the first time since 2020, as the IEA warns of severe disruptions from the ongoing conflict in the Strait of Hormuz. Despite President Donald Trump declaring the U.S.-Iran ceasefire “over,” oil prices edged lower on Friday with Brent crude easing to $76.30 following reports of continued “technical talks” between Washington and Tehran.