Wall Street stock markets closed the weekend trading session on Friday, July 10, 2026, on a positive note, driven by the dominance of technology companies. The S&P 500 index rose 0.42 percent to 7,575.39, followed by the Nasdaq Composite, which climbed 0.29 percent to 26,281.61, while the Dow Jones Industrial Average gained 149.60 points to reach 52,637.01.
The impressive performance was triggered by a 4 percent surge in Nvidia shares and a 6 percent jump in Meta Platforms. Market optimism regarding Meta was fueled by a buy recommendation from Bank of America, which highlighted cost efficiency in artificial intelligence (AI) development. Overall, the technology sector led the S&P 500 and Nasdaq to weekly gains of more than 1 percent.
On the other hand, the market was buzzing with the Nasdaq debut of South Korean semiconductor maker SK Hynix. Its shares soared 13 percent from the initial offering price of US$149 to US$170. However, analysts are beginning to caution about a potential shift in capital flows that could affect the performance of U.S. chipmakers such as Micron Technology, which has recorded significant gains so far this year.
Eric Parnell, Chief Market Strategist at Great Valley Advisor Group, stated that although the market is currently in a booming phase due to AI euphoria, he predicts the possibility of a major correction in the second half of 2026. In addition to technology factors, index movements were also influenced by a drop in global oil prices following positive signals regarding a potential peace deal between the United States and Iran, mediated by Qatar and Pakistan.
