S&P 500 Approaches Record High as SK Hynix IPO Raises $26.5B, Investors Eye Fed Testimony and CPI

According to BlockBeats, on Friday July 11, U.S. equities surged despite geopolitical tensions, with the S&P 500 approaching record highs and semiconductor play SK Hynix raising $26.5 billion in its U.S. IPO, marking the largest foreign company IPO in American stock market history. The rally followed a week in which escalating U.S.-Iran tensions ended a three-week ceasefire, driving oil prices higher and reigniting inflation concerns.

Looking ahead, investors will focus on next week's macroeconomic data releases—including June CPI and PPI—and Federal Reserve Chair Powell's congressional testimony before the House Financial Services Committee and Senate Banking Committee, where markets hope for clarity on interest rate guidance despite Powell's recent signal of reduced forward guidance.