US equities edged higher on Thursday as investors turned their attention to AI opportunities ahead of SK Hynix’s upcoming US listing, while tempering concerns about escalating US‑Iran tensions.
The Nasdaq Composite rose 0.2%, while the S&P 500 and the Dow Jones Industrial Average each gained about 0.1% following a mixed close on Wednesday.
Investors assessed the recent escalation in US‑Iran hostilities, which included fresh attacks on Thursday and a fragile truce being tested. The conflict intensified when the United States conducted airstrikes on roughly 90 Iranian sites, prompting Iran to strike facilities in countries allied with the United States in the Middle East.
Crude oil edged higher on Thursday morning, building on Wednesday’s gains as markets weighed a tentative path toward Middle East stability, yet largely disregarded the heightened hostilities.
Attention is shifting to AI‑related investments ahead of SK Hynix’s Nasdaq debut on Friday. The South Korean memory chip leader plans to price its US offering on Thursday, with demand expected to reach seven times the number of shares available. The IPO arrives as investors evaluate the recent sell‑off in chip stocks that has cast doubt on the AI rally.
On the macro front, the latest weekly report on initial jobless claims was largely unchanged from the previous week, providing another data point as investors assess the outlook for interest rates. At the same time, PepsiCo’s latest earnings showed that American consumers are tightening budgets amid economic concerns, even though the company’s revenue exceeded expectations.
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