S&P 500, Nasdaq Rise for Second Straight Week
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- S&P 500 rose 0.4% for the week, led by gains in materials and communication services stocks.
- Nasdaq 100 advanced 0.3% on the week, extending a streak of back-to-back weekly gains for US tech-heavy equities.
- SK Hynix surged on its record US listing, a marquee event for Korean chip exposure on American exchanges during the session.
- Iran tensions resurfaced as a market overhang, shaping sentiment alongside the run-up to second-quarter earnings season.
- Materials and communication services were the week's standout sectors inside the S&P 500, while the broader index avoided any geopolitical-driven selloff.
Why it matters: Two consecutive winning weeks show risk appetite holding up despite Iran tensions and a heavy Q2 earnings calendar that hasn't even started — a notable stance from investors. The record SK Hynix debut lands as one of the largest Korean-to-US listings ever, putting a fresh AI-memory hardware name directly in front of US buyers right as the sector's demand story gets its next earnings test.
