Wall Street and oil prices tread water as investors eye SK Hynix, Middle East tensions

By Nell Mackenzie and Pete Schroeder

LONDON/WASHINGTON, July 10 (Reuters) - Global stocks roseate connected Friday but Wall Street opened successful mixed territory, arsenic AI-related enthusiasm implicit the marketplace debut of South Korean spot bellwether SK Hynix led investors to brushwood disconnected tit-for-tat ‌attacks betwixt the U.S. and Iran.

The Dow Jones Industrial Average was up 0.16% successful aboriginal trading, to 52,572.69, portion the S&P 500 was ‌mostly flat, climbing conscionable 0.06% to 7,548.32. The Nasdaq Composite was down 0.25%, to 26,141.32.

While the renewed back-and-forth attacks person further eroded the fragile three-week-old U.S.-Iran ceasefire, markets person mostly taken developments ​in the Middle East successful their stride, though lipid prices and their inflationary interaction are backmost connected investors' radar.

INVESTORS RESILIENT TO GEOPOLITICAL RISKS

European shares were muted connected Friday, with the pan-European STOXX 600 up 0.17%, remaining connected way for a play nonaccomplishment that could drawback a four-week winning streak. MSCI's gauge of stocks crossed the globe was up 0.22%.

Japan's enslaved marketplace and currency lurched higher aft Finance Minister Satsuki Katayama said connected Friday the authorities wants to research ‌ways to promote pension funds, including the Government ⁠Pension Investment Fund, to summation their holdings of home fiscal assets. The output connected benchmark U.S. 10-year notes roseate 1.22 ground points to 4.551%.

Brent crude futures were acceptable for a 5% week-on-week rise, the strongest play show since aboriginal May. ⁠But astatine $76.25 per barrel, down 0.1% connected the day, Brent has fixed up astir of the gains it picked up erstwhile the struggle began astatine the extremity of February. U.S. crude fell 0.39% to $71.80 a barrel.

"Oil prices person besides remained remarkably calm contempt the struggle spilling implicit (once again) into immoderate neighbouring countries," said BMO Senior ​Economist ​Carl Campus successful a note. "While determination are respective factors that could beryllium helping forestall ​a bigger surge ... possibly it's simply a reflection of ‌the underlying optimism regarding ongoing talks."

Attention is connected SK Hynix's U.S. marketplace debut Friday aft the steadfast priced its American Depositary Receipts astatine $149 connected Thursday, raising astir $26.5 billion, indicating beardown capitalist appetite to summation vulnerability to the AI proviso chain.

The blockbuster offering, which volition concern caller factories and instrumentality to conscionable surging AI spot demand, is acceptable to beryllium the world's second-biggest stock merchantability aft SpaceX's record-breaking IPO past month. SK Hynix's U.S.-listed shares were indicated to leap 20% successful their Nasdaq debut pursuing its $26.5 cardinal stock sale, signalling beardown enthusiasm successful semiconductor stocks contempt a caller pullback.