US Stocks Post Second Week of Gains Driven by AI Optimism; SK Hynix Jumps in Record US Debut

US equities closed higher for a second consecutive week on July 10, fueled by investor enthusiasm for artificial intelligence (AI)-related shares, despite renewed Middle East tensions. The S&P 500 rose 0.4%, and the Nasdaq 100 advanced 0.3%. South Korea's SK Hynix Inc. saw its shares jump 13% above their offer price in its US debut, raising $26.5 billion in the largest-ever US initial share sale by a foreign company. Easing oil prices also helped temper inflation concerns.