Mixed Sentiment on Wall Street Ahead of U.S. Listing of SK Hynix

Barry Adams
09 Jul, 2026
New York City

In early trading, stocks in New York traded mixed, and bond yields edged higher amid escalating tensions in the Middle East. 

The S&P 500 Index increased 0.1%, and the tech-focused Nasdaq Composite edged down a fraction as investors debated future rate outlook. 

West Texas Intermediate crude oil prices edged up 0.9% to $74.21 a barrel, and the Brent crude oil price increased 0.95% to $78.74 a barrel after the U.S. and Iran continued their bombing campaigns. 

Iran struck the U.S. military bases in Bahrain, Kuwait, and Qatar, and the U.S. CENTCOM conducted its second wave of strikes targeting 90 military installations along the coast of Iran. 

Despite the surge in crude oil prices, market averages in Japan and South Korea halted their two-day slide amid a recovery in tech stocks following the strong interest in the U.S. listing of SK Hynix. 

The South Korean company's U.S. listing on Friday oversubscribed by seven times, according to a Reuters report.

 

U.S. Movers

Levi Strauss declined 4.4% to $23.32 despite the denim maker reporting better-than-expected revenue and earnings in the fiscal second quarter and raising its guidance and dividend. 

Revenue in the quarter ending in May increased to $1.6 billion from $1.4 billion, net income advanced to $87.3 million from $67.0 million, and diluted earnings per share rose to 22 cents from 17 cents a year ago. 

The company revised its net revenue growth range estimate higher to between 7.0% and 7.5% from the previous range between 5.5% and 6.5%. 

The company revised adjusted diluted earnings per share to a range between $1.46 and $1.52 from the previous estimate between $1.42 and $1.58.

Levi Strauss hiked its quarterly cash dividend by 14% to 16 cents per share, payable on August 5 to shareholders on record on July 22.