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Informist, Monday, Jul. 13, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: US indices end up; futures fall as Iran targets US facilities

 

MUMBAI--0659 IST--US indices closed higher Friday after the debut of SK Hynix on Nasdaq boosted sentiment. Stock futures fell slightly Sunday night as investors weighed the recent exchange of heavy missile and drone assaults between the US and Iran. Tehran targeted US facilities in Qatar and the United Arab Emirates Sunday and said it had closed the Strait of Hormuz.

 

The S&P 500 ended marginally higher Friday, supported by a rally in technology stocks. The Dow Jones Industrial Average ended slightly up. Improved profit estimates have brought the S&P 500 price-to-earnings multiple to around 20 times forward earnings, down from 21 times late May, despite the index remaining close to record highs, according to a Reuters report.

 

The American Depository Receipts of South Korean chipmaker SK Hynix rose 13% on listing Friday. The company had raised $26.5 billion at $149 per ADR. The ADR pricing was at a 2.7% premium to the company's average share price in Seoul over the previous three trading sessions, according to CNBC. This indicates the enthusiasm for chip stocks is still intact even after the recent pullback due to the concerns about slower artificial intelligence spending. SK Hynix, a global leader in high-bandwidth memory chips used in AI processors, plans to use the funds raised to expand manufacturing capacity and strengthen its presence in the US market.

 

Shares of Micron have climbed 771% over the last 12 months. SK Hynix's US listing may improve its valuation by attracting more investors. Even with its dominance in chips, SK Hynix is valued at 5.8 times forward earnings, below Micron's 7 times, according to LSEG data cited in a Reuters report.

 

Meta Platforms was up nearly 6%. Delta Air Lines was down nearly 2?spite forecasting third quarter profit above expectation. Investors are now shifting their focus to the upcoming second quarter earnings season, US economic data, and June inflation figures, which could influence the US Federal Reserve's interest rate decisions. US trading volumes were relatively low as 14.5 billion shares were traded Friday compared with an average of 22.4 billion shares over the previous 20 trading sessions.

 

Following were the closing levels of major US indices Friday:

 

Index	Level	Change in %
Dow Jones Industrial Average	52637.01	0.29
NASDAQ Composite	26281.60	0.29
S&P 500	7575.39	0.42

 

(Deesha Jadhav)

 

US$1 = INR 95.32

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Shubhayan Bhattacharya

 

All prices from the National Stock Exchange, unless otherwise specified.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

All times are Indian Standard Time.

 

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