Both the S&P 500 (SPX) and the Nasdaq 100 (NDX) are set to end the trading week on a positive note. The gains come after President Trump said that he had approved the resumption of peace negotiations following outreach from Iran.TipRanks Welcomes a New ETF – NYSE:RANK TipRanks has entered a new arena in the investing world, powering the index of an ETF based on its unique data now trading under the ticker RANK on the NYSE. RANK tracks the performance of the TipRanks US Momentum Analysts Index, a rules-based index of 50 large U.S. companies.
At the same time, Trump reiterated that the ceasefire between the two countries is over. Mediators from several countries are working to restore the ceasefire, with a Qatari team arriving in Iran this morning. Investors are grasping at the possibility of a revived ceasefire and an end to disruptions in the Strait of Hormuz, with Brent crude oil (BZ) down by nearly 1% on the day.
SK Hynix IPO Boosts AI Sector
Elsewhere, AI-related stocks are catching a bid following the massive initial public offering (IPO) of South Korean memory leader SK Hynix (SKHYV) on the Nasdaq (NDAQ) exchange. The IPO raised $26.5 billion, making it the largest listing by a foreign company on a U.S. exchange. Nvidia (NVDA), AMD (AMD), and Seagate Technologies (STX) are all trading higher.
