Investors focus on SK Hynix’s U.S. market debut as chip stocks pull back after Thursday’s Nasdaq rally.
Stocks opened lower in premarket trading Friday, reversing gains from a chip-led rally that lifted the Nasdaq the prior session. Futures pointed to mixed performance as investors awaited South Korean memory chipmaker SK Hynix’s U.S. market debut under the ticker SKHY.
The Nasdaq had climbed on Thursday amid a rebound in semiconductor shares, but premarket moves suggested profit-taking ahead of SK Hynix’s listing. Broader market sentiment remained cautious as traders assessed the impact of the new chip entrant on valuations.
No immediate market reaction was reported following the premarket declines.