Wall Street opens as SK Hynix debuts, oil forecasts eyed
Business
Wall Street kicked off Friday pretty calmly: S&P 500 futures barely budged, Nasdaq-100 dipped a bit, and the Dow inched up.
But all eyes are on South Korean chip giant SK Hynix, making its big Nasdaq debut, while investors also keep an eye on new oil demand forecasts.
SK Hynix $26.5B IPO, IEA forecast
SK Hynix just pulled off the biggest-ever US IPO by a foreign company, raising $26.5 billion with demand far outpacing supply. This has boosted excitement around tech and chip stocks.
On the flip side, the International Energy Agency now predicts global oil demand will drop by one million barrels per day in 2026 due to disruptions caused by the Iran conflict, something that could shake up energy markets going forward.