The S&P 500 Index ($SPX) (SPY) on Thursday closed up +0.81%, the Dow Jones Industrial Average ($DOWI) (DIA) closed up +0.27%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +1.62%. September E-mini S&P futures (ESU26) rose +0.82%, and September E-mini Nasdaq futures (NQU26) rose +1.63%.
Stock indexes settled higher on Thursday, led by a rally in chipmakers, after South Korea’s SK Hynix saw its American depositary receipts (ADRs) listing more than seven times oversubscribed, signaling strong investor demand. The US offering by SK Hynix would raise about $24.5 billion for the company, making it the second-largest by a foreign company, according to Bloomberg calculations. Strength in trucking and freight stocks also boosted the broader market after Citigroup upgraded the sector. In addition, the decline in crude oil prices lifted airline stocks and cruise line operators.
