The stock market notched a winning week as the S&P 500 rose 1.2% for the period ending July 10, 2026, bolstered by a broad rally in technology shares that extended investor enthusiasm for artificial intelligence and semiconductor stocks.
The benchmark index closed at 7,575.39 on Friday, while the tech-heavy Nasdaq Composite added more than 1% for the week. The Dow Jones Industrial Average fell 0.5% over the same period, underperforming the broader market.
Technology stocks led the gains throughout the week, with major names like Nvidia rising around 4% on Friday alone. Meta Platforms emerged as a standout performer, jumping about 6% on the final day of trading to post its best weekly gain since early 2024, with a nearly 15% advance for the five-day period, according to CNBC. Bank of America maintained its buy rating on Meta and noted that an internal memo reviewed by Reuters suggests the company is improving its artificial intelligence cost structure through custom silicon chip development.
The rally was underpinned by renewed optimism around AI and chip stocks, which have benefited from the ongoing buildout of artificial intelligence infrastructure. South Korean chipmaker SK Hynix made its U.S. debut on the Nasdaq on Friday, opening at $170 and rising roughly 14% in its first trading session. The company’s American depositary receipts were priced at $149, raising $26.5 billion to fund expansion plans including new factories and equipment.
The week’s strength in chip stocks reflected broader market appetite for companies positioned to benefit from the AI investment cycle. Chip equipment makers and memory manufacturers have surged this year on massive demand for computing capacity. Micron Technology has already surged more than 200% year to date, while Lam Research, Marvell Technology, and Intel have all more than doubled, according to CNBC’s reporting.
The market gains came as geopolitical tensions eased slightly, with President Donald Trump signaling that Iran called to make a deal. Cooling oil prices provided additional support for equities on Friday, as investors weighed renewed hopes for diplomatic resolution of U.S.-Iran tensions.
Eric Parnell, chief market strategist at Great Valley Advisor Group, cautioned that while AI enthusiasm remains strong, risks loom ahead. “There’s been so much euphoria around the AI boom going all the way back to the summer of 2023,” Parnell said, as quoted by CNBC. “We’re clearly in a boom phase right now, but I do have genuine concerns about some sort of bust coming in the second half of the year.”
Sources
- CNBC — S&P 500 weekly gain of 1.2%, Friday close, Nvidia and Meta performance, SK Hynix debut, and analyst commentary
- Investopedia — S&P 500 weekly performance data and closing price confirmation
- MarketWatch — Index performance and weekly gains confirmation
