[Edaily Reporter kyoungeun kim ] On the 9th (local time), all three major indices on the New York Stock Exchange closed higher. Semiconductor stocks showed broad strength, driven by Micron’s announcement that it would expand its investment in the U.S. to $250 billion, coupled with reports that China is moving to allow the purchase of NVIDIA’s H200 chips. Although military clashes between the U.S. and Iran continued for a second consecutive day, the market reacted calmly, focusing on the possibility of resumed negotiations.
SK hynix(000660)On that day, [Company Name] finalized the offering price for its ADR public offering on the U.S. Nasdaq at $149 per share. With a total value of $26.5 billion, this marks the largest IPO by a foreign company in U.S. history. The offering was a success, with institutional demand exceeding the offering volume by more than seven times.
The June FOMC minutes revealed growing concerns about inflation within the Fed. According to CME FedWatch, the probability of at least one interest rate hike this year is now priced in at the high 80s.
Here are the news items to watch before the market opens on the 10th.

◇ S&P 500 up 0.81%… Led by semiconductor and AI stocks
- On the 9th (local time), the Standard & Poor’s (S&P) 500 index closed at 7,543.64, up 0.81% from the previous trading day. The Nasdaq Composite Index rose 1.3% to 26,206.89, while the Dow Jones Industrial Average closed up 0.27% at 52,487.41.
- The Philadelphia Semiconductor Index (SOX) rose 3.1%. Micron surged 4.5% and SanDisk jumped 7.6%. Reports that the Chinese government is considering a plan to allow domestic AI companies such as Alibaba and DeepSeek to purchase NVIDIA H200 chips on a limited basis triggered buying across the AI semiconductor sector.
-Jeff Bookbinder of LPL Financial said, “AI will remain the most important investment theme driving the market in the second half of this year,” but added, “Going forward, the market’s new evaluation criterion will be not who invests the most money, but who actually generates returns from AI investments.”
◇Micron Expands U.S. Investment to $250 Billion… “40% of DRAM to Be Produced in the U.S.”
-At an event near Syracuse, New York, Micron announced it is expanding its investment plan for U.S. semiconductor production facilities from the previous $200 billion to $250 billion (approximately 377 trillion won). The additional $50 billion will be invested in the construction of advanced memory production facilities in New York, Idaho, and Virginia. The company aims to establish a system where 40% of its DRAM production is handled in the U.S. by 2035.
- Sanjay Mehrotra, CEO of Micron, emphasized, “This investment will create more than 90,000 jobs.” U.S. Secretary of Commerce Howard Rutnick attended the event and remarked, “Micron is at the heart of the U.S. policy to expand semiconductor manufacturing.”
-At the event, Secretary Luttnik stated, “Although Micron might not like it, I want to bring its competitors— SamsungElectronics(005930)and SK hynix(000660)—to the U.S. to build factories.” He mentioned that he is discussing plans to expand investment in the U.S. with the executives of both companies.
◇SK hynix ADR Offering Price Set at $149… Largest-Ever U.S. IPO by a Foreign Company
- On the 9th (local time), SK hynix set the offering price for its ADRs for its Nasdaq listing at $149 per share. The offering consists of 177.9 million ADRs, with a total value of approximately $26.5 billion (about 40 trillion won). This surpasses Alibaba’s 2014 IPO ($25 billion) to become the largest-ever U.S. IPO by a foreign company.
-The offering price was set approximately 2.9% higher than the closing price on the Korean stock market that day, marking a successful instance of “premium pricing.” The offering was a hit, with institutional demand exceeding the offering volume by more than seven times. Demand was led by global long-term investment funds, technology-focused funds, sovereign wealth funds, and global investment institutions specializing in Asia.
-The funds raised are scheduled to be invested in new production facilities and equipment to meet growing demand for AI memory.
◇Oil Prices Fall Despite Two Consecutive Days of U.S.-Iran Airstrikes… “Manageable Conflict”
- U.S. Central Command (CENTCOM) announced that it carried out additional airstrikes for two consecutive days in response to Iran’s attacks on commercial vessels in the Strait of Hormuz and nearby waters. The temporary ceasefire appears to be effectively crumbling.
-However, with President Trump stating that “Iran wants to negotiate” and reports of mediation efforts by Qatar and Pakistan emerging, the market is placing more weight on the possibility of a shift toward negotiations rather than an escalation into full-scale war. WTI fell 2.1% to $71.94 per barrel, while Brent crude dropped 2.4% to $76.12.
Elias Hadad of BBH analyzed that the market is viewing this situation as a “managed escalation” that will not cause a major shock to the overall economy.
◇FOMC Minutes: “Growing Inflation Concerns”… Market Pricing in an 80% Chance of a Rate Hike
- The June FOMC minutes released the previous day revealed growing concerns about inflation within the Fed. According to CME FedWatch, the probability of at least one rate hike this year is currently priced in at the high 80% range.
The 10-year Treasury yield is trading around 4.54%. In the 30-year Treasury auction held the previous day, the winning yield reached its highest level in nearly 20 years, suggesting that long-term Treasury investors are demanding higher yields.
John Williams, President of the New York Fed, stated that he does not expect energy prices to continue rising despite the situation in the Middle East, but he avoided commenting on the decision at this month’s FOMC meeting. Initial jobless claims came in at 215,000, below the forecast of 218,000, confirming the strength of the labor market. In contrast, existing home sales in June fell 2.4% from the previous month to an annualized rate of 4.09 million units, falling short of the forecast of 4.20 million units.